Industrial supplier Fastenal (NASDAQ: FAST) will be reporting results this Monday morning. Here’s what investors should know.
Fastenal beat analysts’ revenue expectations by 0.5% last quarter, reporting revenues of $2.08 billion, up 8.6% year on year. It was a strong quarter for the company, with a decent beat of analysts’ adjusted operating income estimates and a beat of analysts’ EPS estimates.
Is Fastenal a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Fastenal’s revenue to grow 11.5% year on year to $2.13 billion, improving from the 3.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.30 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fastenal has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Fastenal’s peers in the industrial distributors segment, only Richardson Electronics has reported results so far. It beat analysts’ revenue estimates by 6%, delivering year-on-year sales growth of 1.6%. The stock traded up 11.4% on the results.
Read our full analysis of Richardson Electronics’s earnings results here.Investors in the industrial distributors segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. Fastenal is down 1.1% during the same time and is heading into earnings with an average analyst price target of $44.77 (compared to the current share price of $46.95).
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