Fastenal Q1 Profit Increases - Quick Facts

(RTTNews) - Industrial and construction supplies provider Fastenal Co. (FAST) reported that its first-quarter net earnings increased to $111.93 million or $0.38 per share, from $109.05 million or $0.37 per share in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.38 per share for the quarter. Analysts' estimates typically exclude special items. Net sales for the quarter rose to $876.50 million from $806.33 million in the prior year quarter. Twelve analysts had consensus revenue estimate of $869.99 million for the quarter.

The increase in net sales in the first quarter of 2014 and 2013 came primarily from higher unit sales. The growth in net sales was impacted by slight inflationary price changes in its non-fastener products and some price deflation in its fastener products, but the net impact was a drag on growth. The growth in net sales was not meaningfully impacted by the introduction of new products or services, with one exception.