Fastenal (FAST), a major distributor of industrial and construction supplies, reported $1.91 billion in revenue for the quarter ending September 2024. This represents a 3.5% year-over-year increase. The company also reported earnings per share (EPS) of $0.52, aligning with the previous year’s performance. While these headline figures might seem positive, a closer look reveals a more nuanced picture.
The reported revenue fell slightly short of the Zacks Consensus Estimate of $1.92 billion, generating a -0.26% surprise. While investors typically focus on headline numbers and their comparison to Wall Street expectations, digging deeper into key metrics can provide a more comprehensive understanding of a company’s performance.
Here’s how Fastenal performed in the recent quarter compared to analyst expectations:
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Business Days:
64 Days (met the six-analyst average estimate).*
Daily Sales:
$29.80 (slightly below the four-analyst average estimate of $29.92).*
Number of In-Market Locations:
3,583 (surpassed the 3,567 average estimate based on three analysts).*
Weighted FASTBin/FASTVend Installations:
123,193 (slightly above the 122,318 estimated by two analysts).*
Number of Active Onsite Locations:
1,986 (exceeding the 1,979 average estimate based on two analysts).*
Number of Branch Locations:
1,597 (matching the two-analyst average estimate of 1,591).*
Weighted FASTBin/FASTVend Signings:
7,281 (significantly higher than the 6,570 average estimate based on two analysts).These key metrics provide valuable insight into Fastenal’s operational performance. While some indicators exceeded expectations, others fell short, suggesting a mixed bag for the company’s future prospects.
Over the past month, Fastenal’s stock has returned +0.2%, lagging behind the Zacks S&P 500 composite’s +5.4% change. The stock currently holds a Zacks Rank #4 (Sell), indicating potential underperformance compared to the broader market in the near term. Investors will be closely watching how Fastenal navigates these mixed signals in the coming quarters to gauge the company’s long-term growth potential.
