Fastenal Down 5% Despite Earnings Beat (FAST)

Shares of Fastenal Co. FAST are down more than 5% today, despite the company reporting better than expected earnings this morning before the bell. The company reported quarterly earnings of 54 cents per share on revenues of $640.6 million. This is up sharply from a year ago, when the Minnesota-based company reported earnings of 38 cents per share on revenues of $520.8 million. Wall Street estimates had been for 51 cents per share on revenues of $629.1 million. Fastenal Company, together with its subsidiaries, operates as a wholesaler and retailer of industrial and construction supplies.