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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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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News
- Understanding Fastenal (FAST) Reliance on International Revenue [Yahoo! Finance]Yahoo! Finance
- Fastenal Company (FAST) Is a Trending Stock: Facts to Know Before Betting on It [Yahoo! Finance]Yahoo! Finance
- Fastenal Company (NASDAQ:FAST) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Fastenal (NASDAQ: FAST) had its price target lowered by analysts at Loop Capital from $71.00 to $66.00. They now have a "hold" rating on the stock.MarketBeat
- Fastenal (NASDAQ: FAST) had its price target raised by analysts at HSBC Holdings plc from $59.00 to $64.00. They now have a "hold" rating on the stock.MarketBeat
FAST
Earnings
- 4/11/24 - Miss
FAST
Sec Filings
- 4/18/24 - Form 4
- 4/16/24 - Form 10-Q
- 4/11/24 - Form 8-K
- FAST's page on the SEC website