Fastenal Q3 Profit Increases - Quick Facts

(RTTNews) - Industrial and construction supplies provider Fastenal Co. (FAST) reported that its third-quarter net earnings increased to $133.31 million or $0.45 per share, from $119.35 million or $0.40 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew to $980.81 million from $858.42 million in the prior year quarter. Wall Street expected revenues of $980.10 million for the quarter.

During the first and third quarters of 2014, the company said it purchased 200,000 and 400,000 shares, respectively, of its common stock at an average price of approximately $44.24 and $44.62, respectively, per share. It currently has authority to purchase up to an additional 1 million shares of common stock.