Fastenal Earnings: FAST Stock Flies 16% Higher on Q3 Beat

FAST beat EPS and revenue estimates for Q3

Fastenal (NASDAQ:FAST) earnings for the suppler of goods’ third quarter of 2019 has FAST stock heading higher on Friday. This is due to its per-share earnings of 37 cents for the quarter. This beats out Wall Street’s estimate of 35 cents. Revenue of $1.38 billion was also a boon to FAST stock by coming in above analysts’ estimate of $1.37 billion.

Fastenal Earnings: FAST Stock Flies 16% Higher on Q3 Beat
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Now let’s take a closer look at the most recent Fastenal earnings report.

  • EPS for the quarter was up 8.80% YoY from 34 cents.
  • Revenue comes in 7.82% higher than $1.28 billion in the third quarter of 2018.
  • Gross profit was $651.10 million, which represents a 5.70% increase from $615.80 million in the same period of the year prior.
  • Operating income of $281.90 million was up 7.40% from $262.30 million during the same time last year.
  • The Fastenal earnings report also has net income coming in at $213.50 million, which is up 8% from $197.60 million.

Fastenal had this to say in its most recent earnings report.

“We returned $126.2 in dividends to our shareholders in the third quarter of 2019, compared to $114.8 in dividends in the third quarter of 2018. We did not repurchase any of our common stock in either period.”

Fastenal also recently announced a dividend for holders of FAST stock. This dividend is 22 cents per share and is payable on Nov. 22, 2019. Shareholders must be on record Oct. 25, 2019 to receive this dividend.

FAST stock was up 16.50% as of Friday afternoon. The stock is also up 20.65% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/fastenal-earnings-q3-boost-fast-stock/.

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