Fastenal Second-Quarter Earnings Top Estimates

Fastenal, a distributor of industrial goods and construction supplies, has reported double-digit growth in its second-quarter net earnings, driven by higher unit sales and growth in the company’s industrial vending business. Net earnings totaled $148.9 million in the quarter, up 13.2% from $131.5 million in the second quarter of 2016, according to a statement published by the company on Wednesday. Diluted net earnings per share were up 13.4% to $0.52 per share from $0.45 per share in the corresponding quarter of the prior year. That beat the $0.50 per share average estimate of analysts polled by Capital IQ.

Net sales rose to $1.12 billion from $1.01 billion in the same period last year, marginally higher than the $1.11 billion consensus estimate by analysts in a Capital IQ poll.

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