Earnings To Watch: Fastenal (FAST) Reports Q2 Results Tomorrow - The Chronicle-Journal
Article excerpt
Highlighted: the sentence this signal was extracted from
Industrial supplier Fastenal ( NASDAQ: FAST ) will be announcing earnings results this Tuesday before market hours. Here's what to expect. Fastenal met analysts' revenue expectations last quarter, reporting revenues of $2.20 billion, up 12.4% year on year. It was a mixed quarter for the company, with EPS in line with analysts' estimates. Is Fastenal a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members. This quarter, the market is expecting Fastenal's revenue to grow 12.6% year on year, improving from the 8.6% increase it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Fastenal has missed Wall Street's revenue estimates multiple times over the last two years. Looking at Fastenal's peers in the industrial distributors segment, only MSC Industrial has reported results so far. It exceeded analysts' revenue estimates, delivering year-on-year sales growth of 7.8%. Investors in the industrial distributors segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Fastenal is up 1.1% during the same time and is heading into earnings with an average analyst price target of $47.08 (compared to the current share...
Keep reading with a free account
The rest of this article, and every signal for Fastenal, is in your free account.