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News Breaks
April 11, 2014
11:47 EDTHDS, GWW, FASTFastenal 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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January 27, 2015
10:00 EDTGWWOn the Fly: Analyst Downgrade Summary
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08:21 EDTGWWGrainger downgraded at Atlantic Equities
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05:50 EDTGWWGrainger downgraded to Neutral from Overweight at Atlantic Equities
January 26, 2015
07:34 EDTGWWGrainger reports Q4 US sales up 6%, Canada sales up 3%
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07:34 EDTGWWGrainger cuts FY15 EPS to $12.60-$13.60 from $12.90-$13.80, consensus $13.48
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07:33 EDTGWWGrainger says 2014 was a 'challenging year'
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07:31 EDTGWWGrainger reports Q4 adjusted EPS $2.80, consensus $2.83
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January 22, 2015
09:41 EDTGWWGrainger initiated with a Hold at Gabelli (pre-open)
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