Fastenal Co. Q2 Profit Increases, but misses estimates

(RTTNews) - Fastenal Co. (FAST) reported earnings for its second quarter that increased from the same period last year but missed the Street estimates.

The company's earnings came in at $593.1 million, or $1.04 per share. This compares with $556.7 million, or $0.96 per share, in last year's second quarter.

Excluding items, Fastenal Co. reported adjusted earnings of $298.0 million or $0.52 per share for the period.

Analysts on average had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.5% to $3.74 billion from $3.48 billion last year.

Fastenal Co. earnings at a glance (GAAP) :

-Earnings (Q2): $593.1 Mln. vs. $556.7 Mln. last year. -EPS (Q2): $1.04 vs. $0.96 last year. -Analyst Estimate: $0.53 -Revenue (Q2): $3.74 Bln vs. $3.48 Bln last year.