FAST - Fastenal's stock declines after revenue misses estimates
2023-07-13 08:39:10 ET
- Fastenal ( NASDAQ: FAST ) fell 1.7% to $57.74 a share in premarket trading Thursday after the industrial supplier reported Q2 sales that missed the average estimate among Wall Street analysts.
- The company’s revenue grew 5.9% from a year earlier to $1.88 billion, compared with the consensus estimate of $1.89 billion among 13 analysts surveyed.
- Net earnings grew 3.8% to $298 million, or $0.52 a share, from $287.1 million, or $0.50 a share, a year earlier. Its profit matched the estimate of $0.52 a share.
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Fastenal’s stock declines after revenue misses estimates