Fastenal misses in Q3, but cash flow is okay

Filed under: Earnings reports

Fastenal Company (NASDAQ: FAST), a company that sells supplies to the construction industry and whose colleagues include W.W. Grainger (NYSE: GWW) and MSC Industrial Direct Co. (NYSE: MSM), didn't do so well in its third quarter. According to Reuters, per-share profit missed expectations by a penny, coming in at 32 cents. Net sales, however, met expectations at $489 million.

A comparison of this year's data to last year's results also indicates a rather tepid performance. Fastenal earned 49 cents per share in the year-ago period according to the actual press release. In addition, the current quarter's top line saw a decline of well over 20%. The economy is limiting Fastenal's ability to grow, no question about that.

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Fastenal misses in Q3, but cash flow is okay originally appeared on BloggingStocks on Tue, 13 Oct 2009 18:00:00 EST. Please see our terms for use of feeds.

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