Fastenal matches 3Q profit expectations, tops revenue forecasts

MarketsAssociated Press

Fastenal Co. (FAST) on Friday reported third-quarter net income of $133.3 million.

On a per-share basis, the Winona, Minnesota-based company said it had a profit of 45 cents.

Continue Reading Below

The results matched Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 45 cents per share.

The maker of industrial and construction fasteners posted revenue of $980.8 million in the period, surpassing Street forecasts. Analysts expected $978.9 million, according to Zacks.

Fastenal shares have declined almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 4 percent. The stock has declined almost 5 percent in the last 12 months.

_____

This story was generated automatically by Automated Insights using data from Zacks Investment Research. Full Zacks research report: FAST

_____

Keywords:Fastenal,Earnings Report