Fastenal Co. (FAST)

Index:

Nasdaq 100

$ 42.46
   
  • Change Today:
    $0.50
  • 52 Week High: $50.39
  • 52 Week Low: $35.56
  • Currency: US Dollars
  • Shares Issued: 573.32m
  • Volume: 7,016,424
  • Market Cap: $24,343m
  • RiskGrade: 106

Fastenal misses on Q3 expectations, shares decline

By Conor Coyle

Date: Tuesday 11 Oct 2016

LONDON (ShareCast) - (ShareCast News) - Industrial supplies manufacturer Fastenal published weaker-than-expected results on Tuesday for its third quarter of 2016, with profits lower as a result of weakness in its core segment.
The Minnesota-based company has been affected by the slowdown in the construction industry, and shares were declining ahead of the open.

A rise in revenues to $1.01bn was predicted by analysts and this expectation was met, but Fastenal reported earnings of 44 cents per share for $126.9m, which was below the 47 cents per share for $136.5m a year earlier.

"Business conditions in the third quarter of 2016 looked very similar to those in the first half of 2016," Fastenal said in a statement.

"Daily sales growth remained slow at 1.8% in the third quarter of 2016, versus growth of 1.9% and 1.6%, respectively, in the first and second quarters of 2016."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Fastenal Co. Market Data

Currency US Dollars
Share Price $ 42.46
Change Today $ 0.50
% Change 1.19 %
52 Week High $50.39
52 Week Low $35.56
Volume 7,016,424
Shares Issued 573.32m
Market Cap $24,343m
RiskGrade 106

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 11
Sell 2
Strong Sell 0
Total 17
neutral
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