Time New York: Sun 24 Jun 11:10 am  |  Save 15% on H&R Block Online


Fastenal (FAST) Beats Q2 Earnings & Revenue Estimates


Fastenal Company FAST is a national wholesale distributor of industrial and construction supplies. It distributes its products through company-owned stores mostly located in North America. The company has gradually grown from a fastener distributor to a full-line industrial supplier.

Investors should note that the recent earnings estimate for FAST has been moving upward in the last 30 days. However, Fastenal has delivered negative earnings surprises in two of the last four quarters, making an average negative surprise of 0.80%.

Currently, FAST has a Zacks Rank #2 (Buy), but that could definitely change following Fastenal’s earnings report which was just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: FAST reported EPS of 52 cents per share, beating the Zacks Consensus Estimate of 50 cents.

Fastenal Company Price and EPS Surprise

Fastenal Company Price and EPS Surprise | Fastenal Company Quote

Revenues: FAST reported revenues of $1,121.5 million, which surpassed our consensus estimate of $1,110 million.

Key Stats to Note: Fastenal’s average daily sales increased 10.6% in the quarter.

Stock Price Movement: Shares rose 3.2% in pre-market trading, at the time of writing.

Check back later for our full write up on this FAST earnings report later!

More Stock News: 8 Companies Verge on Apple-Like Run

Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.

A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.