Fastenal's stock drops after profit and revenue miss, raised prices fail to offset inflation [MarketWatch]
Fastenal Company (FAST)
Last fastenal company earnings: 4/14 06:50 am
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US:NASDAQ Investor Relations:
investor.fastenal.com
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Source: MarketWatch
Fastenal's stock drops after profit and revenue miss, raised prices fail to offset inflation A previous item incorrectly reported the last time the stock traded at current levels. It has been corrected. Shares of Fastenal Co. FAST, -5.60% dropped 4.6% toward a 6-month low, after the industrial and construction supplies distributor reported second-quarter earnings and revenue that missed expectations. Net earnings fell to $204.6 million, or 36 cents a share, from $211.2 million, or 37 cents a share, in the year-ago period, below analyst consensus expectations of 37 cents a share, according to FactSet. Sales rose 7.9% to $1.37 billion, just shy of the FactSet consensus of $1.38 billion. The company said economic activity slowed during the quarter relative to the sequential first quarter. Gross profit as a percentage of sales fell 180 basis points to 46.9%. "While we successfully raised prices as one element of our strategy to offset tariffs placed to date on products sourced from Chi
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FAST
News
- Fastenal (NASDAQ: FAST) is now covered by analysts at UBS Group AG. They set a "neutral" rating on the stock.MarketBeat
- Fastenal Names New Executive Vice President of Strategy and CommunicationsBusiness Wire
- Fastenal (NASDAQ: FAST) had its price target raised by analysts at Morgan Stanley from $72.00 to $76.00. They now have an "equal weight" rating on the stock.MarketBeat
- Fastenal (NASDAQ: FAST) had its "buy" rating re-affirmed by analysts at Stifel Nicolaus. They now have a $86.00 price target on the stock, up previously from $80.00.MarketBeat
- Fastenal (NASDAQ: FAST) had its price target raised by analysts at Robert W. Baird from $67.00 to $80.00. They now have a "neutral" rating on the stock.MarketBeat
FAST
Earnings
- 10/11/24 - In-Line
FAST
Sec Filings
- 11/15/24 - Form 4
- 11/14/24 - Form 4
- 11/13/24 - Form 144
- FAST's page on the SEC website