Ahead Of Fastenal Q2 Earnings

(RTTNews) - Industrial and construction supplies provider Fastenal Co. (FAST) is slated to release its second-quarter results before the bell on Tuesday, July 12, with analysts polled by Thompson Reuters expecting earnings of $0.48 per share on revenue of $1.02 billion. Analysts' estimate typically exclude certain special items.

In the last quarter...

The company reported net income of $126.2 million or $0.44 per share compared to $127.6 million or $0.43 per share in the prior year period. Net sales increased to $986.7 million from the previous year's sales of $953.3 million.

May net sales rose 6.2% year over year to $333.7 million from $314.4 million last year. Daily sales improved 1.1% to $15.9 million from $15.7 million a year ago. Unfavorable currency impacted sales by 0.5% in the month, compared to a negative impact of 0.9% last year.

To Consider...

For the past few years, the company's top-line growth was coerced by a weak economy and foreign exchange rate fluctuations - primarily Canada. This trend may reflect in the soon-to-be reported second quarter performance. In an effort to drive sales growth, Fastenal strives to make investments into the growth drivers of its business. It has also been heavily investing in vending and on-site.