Fastenal Earnings: What To Look For From FAST

Industrial supplier Fastenal (NASDAQ:FAST) will be reporting results tomorrow before market hours. Here’s what you need to know.

Fastenal met analysts’ revenue expectations last quarter, reporting revenues of $1.92 billion, up 1.8% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ earnings estimates but a miss of analysts’ operating margin estimates.

Is Fastenal a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Fastenal’s revenue to grow 3.2% year on year to $1.90 billion, in line with the 2.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.51 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fastenal has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Fastenal’s peers in the industrial distributors segment, only Richardson Electronics has reported results so far. It beat analysts’ revenue estimates by 8.7%, delivering year-on-year sales growth of 2.2%.

Read our full analysis of Richardson Electronics’s earnings results here.

There has been positive sentiment among investors in the industrial distributors segment, with share prices up 7.8% on average over the last month. Fastenal is up 2.6% during the same time and is heading into earnings with an average analyst price target of $66.53 (compared to the current share price of $71).

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