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:
-
Helen Of Troy Q1 Results Down, But Beats Estimates; Backs FY24 Outlook; Stock Up In Premarket
-
"Market Manipulation?" — Former SEC Official Reveals Factors Propelling Bitcoin’s Latest Price Ascent
-
Over 70% of Bitcoin's Circulating Supply Held by Long-Term Holders — What This Means For BTC
-
Beauty Health Company Adds 6% On Optimistic Financial Outlook
-
Cryptos Muted Amidst Anxiety Over FTX Ramifications