Shares of industrial and construction supplies distributor Fastenal Company (FAST) are falling more than 4% in the morning trade on Wednesday after the company’s second-quarter sales missed analysts’ view.
Net sales for the quarter increased to $1.779 billion from $1.508 billion a year ago, but missed the average estimate of analysts polled by Thomson Reuters of $1.79 billion.
Net earnings rose to $287.1 million or $0.50 per share in the second quarter, from $239.7 million or $0.42 per share in the same quarter a year ago. The consensus estimate was for $0.50 per share.
FAST, currently at $47.97, has traded in the range of $46.58-$64.75 in the past 52 weeks.
Source: Read Full Article
Lates News:
-
Scholastic Shares Fall 20% Following Wider Loss In Q3
-
$ETH: CME Group Shows Impeccable Timing With Launch of Its Options on Ether Futures
-
Analyst Predicts 90% Likelihood of SEC Approving Bitcoin Spot ETF by January 2024 or Earlier
-
$BTC: Five Reasons Why Bitcoin Could Be a Better Store of Value Than Gold
-
Heritage Insurance Drops 10% After Projecting Catastrophe Losses