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Fastenal Q1 Earnings and Revenues Lag Estimates

Fastenal (NASDAQ: FAST) came out with quarterly earnings of $0.52 per share, missing the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -1.89%. A quarter ago, it was expected that this maker of industrial and construction fasteners would post earnings of $0.45 per share when it actually produced earnings of $0.46, delivering a surprise of 2.22%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Fastenal, which belongs to the Zacks Building Products - Retail industry, posted revenues of $1.9 billion for the quarter ended March 2024, missing the Zacks Consensus Estimate by 0.98%. This compares to year-ago revenues of $1.86 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Fastenal shares have ...