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News Breaks
April 11, 2014
11:47 EDTFAST, GWW, HDSFastenal slips despite better than expected Q1 sales
Shares of industrial and construction supply retailer Fastenal (FAST) are lower after the company reported first quarter earnings per share which matched analysts' consensus and first quarter revenue that surpassed analysts' expectations. WHAT'S NEW: Fastenal's first quarter earnings per share of 38c mirrored analysts' consensus, while its revenue of $876.5M beat analysts' consensus of about $870M. Fastenal said that first quarter daily sales increased 8.7%. WHAT'S NOTABLE: During the company's earnings conference call, Fastenal said its business in January and February were "heavily" impacted by the winter weather. The company said it took a step back in the first quarter, but is very focused on 23% pre-tax growth. Fastenal said heavy equipment was very challenging for the company through FY13, though it is now seeing some nominal improvement in that business. If the situation is right, the company said it is open to future M&A opportunities. OTHERS TO WATCH: Other industrial products distributors include W.W. Grainger (GWW) and HD Supply (HDS). PRICE ACTION: During morning trading, shares of Fastenal slipped 95c or $1.87% to $49.75. Year-to-date, the stock is up a bit more than 4%.
News For FAST;GWW;HDS From The Last 14 Days
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October 16, 2014
07:33 EDTGWWGrainger reports Q3 US segment sales up 7%, Canada segment sales up 3%
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07:32 EDTGWWGrainger cuts FY14 EPS to $12.20-$12.30 from $12.20-$12.60, consensus $12.45
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07:31 EDTGWWGrainger reports Q3 EPS $3.30, consensus $3.29
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October 15, 2014
15:28 EDTGWWNotable companies reporting before tomorrow's open
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October 14, 2014
10:01 EDTFASTOn The Fly: Analyst Downgrade Summary
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07:24 EDTFASTFastenal downgraded to Neutral at Susquehanna
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06:57 EDTFASTFastenal downgraded to Neutral from Positive at Susquehanna
October 10, 2014
10:43 EDTFASTFastenal says will not give Q4 guidance
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10:19 EDTFASTFastenal expects "good" sequential growth going into FY15
Says believes expense growth going forward looks "much better." Believes the company has a lot of opportunity in the next 4-12 quarters to reduce working capital needed for inventory and says it is getting better at using inventory. Says margins appear more stable now than they were earlier in the year. Says if the economy stays steady, the company is in a good profit position. Aims to grow average store size and obtaining top-line growth. Says expense growth "looks good." Says there are "lots of gives and takes in margin" right now. Says Fastener growth has rebound. Says trends year-to-date in the company's overall business are "quite strong" as 2015 approaches. Says heavy equipment operations have stabilized. Says has potential to initiate share buybacks. Comments made during the company's Q3 earnings conference call.
07:47 EDTFASTFastenal cuts view of 'normal' gross profit range to 51%-52%
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06:54 EDTFASTFastenal reports July sales growth up 14.7%, August sales growth up 15%
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06:52 EDTFASTFastenal: Sales growth greatest driver of long-term operating profit gains
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06:50 EDTFASTFastenal reports Q3 EPS 45c, consensus 45c
Reports Q3 revenue $980.81M, consensus $980.1M
October 9, 2014
15:32 EDTFASTFastenal technical comments ahead of earnings
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15:24 EDTFASTNotable companies reporting before tomorrow's open
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