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Fastenal (FAST) Q1 Earnings Meet Expectations, Sales Top

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Fastenal Company (FAST - Free Report) is a national wholesale distributor of industrial and construction supplies. It distributes its products through company-owned stores mostly located in North America. The company has gradually grown from a fastener distributor to a full-line industrial supplier.

Investors should note that the recent earnings estimate for FAST has been moving upward in the last 30 days. However, Fastenal has delivered negative earnings surprises in two of the last four quarters, making an average negative surprise of 0.80%.    

Currently, FAST has a Zacks Rank #2 (Buy), but that could definitely change following Fastenal’s earnings report which was just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: FAST meets expectation. The company reported EPS of 46 cents per share, in line with the Zacks Consensus estimate.

Fastenal Company Price and EPS Surprise

Revenues: FAST reported revenues of $1.05 billion, which surpassed our consensus estimate of $1.03 billion.

Key Stats to Note: Fastenal’s total average daily sales increased 6.2% in the quarter.

Check back later for our full write up on this FAST earnings report later!

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