Fastenal Rises In Pre-market On Better-than-expected Quarterly Results

Shares of Fastenal Company (FAST), a wholesale distributor of industrial and construction supplies, were up more than 3% in the pre-market on Wednesday after reporting better-than-expected fourth-quarter results.

Net earnings in the fourth quarter increased to $231.2 million or $0.40 per share from $196.1 million or $0.34 per share in the same quarter a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.38 per share.

Net sales for the quarter jumped 12.8% year-over-year to $1.532 billion. The consensus estimate was for $1.51 billion.

Fastenal stock closed Tuesday’s trading at $58.39, down 1.37%. It is currently at $59.35, up 1.64%.

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