Fastenal Q4 Profit Rises, Meets View - Quick Facts

Fastenal Co. (FAST) on Friday reported a 5.9 percent increase in net earnings for the fourth quarter to $178.7 million from $168.8 million in the year-ago period. Earnings per share increased 5.4 percent to $0.31 from $0.29 last year.

The company noted that adjusting for the discrete tax item that adversely affected net earnings in the year-ago period, net earnings and net earnings per share in the latest quarter would have grown by 4.0 percent and 3.4 percent, respectively.

Net sales for the quarter increased 3.7 percent to $1.28 billion from $1.23 billion in the year-ago period.

The increase was driven by higher unit sales related to the company's growth drivers, most notably contribution from industrial vending and onsite locations, compared to the prior-year period.

On average, analysts polled by Thomson Financial expected the company to report earnings of $0.31 per share for the quarter on revenues of $1.29 billion. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Philips Electronics NV were losing around 2 percent in the morning trading in Amsterdam after the Dutch consumer electronics giant on Monday trimmed its outlook for fiscal 2021 after reporting weak EBITA and sales in its third quarter. The results were hurt by supply chain challenges as well as Sleep & Respiratory Care recall. However, quarterly net profit was significantly higher. The Goldman Sachs Group, Inc. (GS) reported that its third quarter net earnings applicable to common shareholders increased 63 percent year-on-year. Net revenues were also significantly higher reflecting significantly higher net revenues in Investment Banking, Global Markets and Consumer & Wealth Management,... Butterball, LLC recalled about 14,107 pounds of ground turkey products for potential contamination with foreign materials, specifically blue plastic material, the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS) said in a statement.
Follow RTT