Fastenal Reports Mixed Results, Shares Falling (FAST)

Winona, Minnesota-based Fastenal Company FAST on Tuesday morning released financial results that missed Wall Street earnings expectations, while beating revenue expectations. Fastenal Company reported that its 4th quarter net income climbed to $65.2 million, or 44 cents per share, up from $44.5 million, or 30 cents per share, a year earlier. Fastenal Company reported that its revenues climbed 20.3% to $573.8 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 45 cents per share, on revenue of $563.29 million. Fastenal Company (FAST) ended the previous trading session at $59.89 per share and is down nearly 3.5% at $57.78 during pre-market trading. Analysts covering the company's stock have a consensus price target of $63.22 per share. Fastenal Company sells different types of industrial and construction supplies, operating approximately 2,500 stores located primarily in North America with additional locations in Asia, Europe, and Central America. Read more from Benzinga's Company news.