Fastenal Q2 Profit Tops View - Quick Facts

(RTTNews) - Industrial and construction supplies provider Fastenal Co. (FAST) posted second-quarter net earnings of $140.4 million, or $0.48 per share, compared to $130.5 million, or $0.44 per share in the prior year period. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter rose by 5.0 percent to $997.83 million from $949.94 million in the comparable quarter last year, while 11 analysts had a consensus revenue estimate of $1.01 billion for the quarter.

The growth in net sales in the periods noted for 2015 and 2014 came mainly from higher unit sales. Net sales were impacted by minimal price changes in our non-fastener products and some price deflation in our fastener products, but the net impact was a drag on growth, according to the company.