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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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 |
Strong Buy | 4 |
Buy | 0 |
Neutral | 11 |
Sell | 2 |
Strong Sell | 0 |
Total | 17 |
Time | Volume / Share Price |
16:00 | 2,432,701 @ $42.46 |
15:59 | 300 @ $42.46 |
15:59 | 100 @ $42.46 |
15:59 | 137 @ $42.46 |
15:59 | 213 @ $42.46 |
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