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July 11, 2014
11:15 EDTHDS, GWW, FASTFastenal tumbles after reporting earnings, announcing store closures
Shares of industrial and construction supply retailer Fastenal (FAST) are lower after the company reported plans to close 45 stores in its second quarter earnings release. WHAT'S NEW: Fastenal's Q2 earnings per share of 44c matched analysts' consensus estimate, while its revenue of $949.94M narrowly missed analysts' consensus of $952.45M. The company said, "Our growth in net sales was impacted by slight inflationary price changes in our non-fastener products and some price deflation in our fastener products, but the net impact was a drag on growth." WHAT'S NOTABLE: During the company's earnings conference call, Fastenal announced plans to close 45 stores in the second half of this year. The company feels "very good" with what it has done in terms of sales so far this year and believes vending opportunity will be a "big part" of the company's future. Fastenal says that it has very good sales momentum and has "great momentum" overall for the company going into the back half of the year. The company says it will to continue to work hard on its margins and hopes to structurally improve them. Overall, Fastenal said that there is "plenty of room" for the company to improve gross margins over time. The retailer aims to continue to invest heavily in distribution infrastructure and vending. During 2013 and 1H14, Fastenal incurred some short-term debt to fund CapEx and dividends. This was expected and is expected to continue throughout the remainder of FY14 and possibly FY15. 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 $2.16, or $4.5%, to $45.99. Shares of W.W. Grainger and HD Supply are down 1.7% and 0.9%, respectively.
News For FAST;GWW;HDS From The Last 14 Days
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July 30, 2015
07:27 EDTGWWGrainger downgraded on negative catalysts at RBC Capital
As noted earlier, RBC Capital downgraded Grainger to Underperform from Sector Perform. Among the reasons for the downgrade are what the firm sees as the company's increased competition, negative mix shift, low pricing power, and high vulnerability to economic shifts. Target $205.
07:24 EDTHDSHD Supply upgraded on positive catalysts at RBC Capital
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06:36 EDTHDSHD Supply upgraded to Outperform from Sector Perform at RBC Capital
July 27, 2015
10:13 EDTHDSHigh option volume stocks
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July 23, 2015
08:24 EDTHDSHD Supply 30.5M share Block Trade priced at $35.50
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07:42 EDTHDSHD Supply equity sale by private equity removes overhang, says BofA/Merrill
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July 22, 2015
16:26 EDTHDSHD Supply files to sell 30.5M shares for Bain Capital and THD Holdings
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July 21, 2015
10:01 EDTFASTOn The Fly: Analyst Initiation Summary
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July 20, 2015
16:29 EDTFASTFastenal initiated with a Sector Weight at KeyBanc
13:11 EDTFASTFastenal says Hein to step down as CEO, Oberton to re-assume CEO role
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July 17, 2015
08:03 EDTGWWGrainger reports Q2 adjusted EPS $3.27, consensus $3.05
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07:33 EDTGWWGrainger says Q2 included charges of $2M related to restructuring at Fabory
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07:33 EDTGWWGrainger cites difficult economic environment, continued sales softness
07:32 EDTGWWGrainger cuts FY15 EPS to $12.00-$12.50 from $12.25-$12.95, consensus $12.35
Cuts FY15 revenue growth to flat to 2% growth from 1%-4% growth.
July 16, 2015
16:22 EDTHDSOn The Fly: Top stock stories for Thursday
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15:02 EDTGWWNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include General Electric (GE), consensus 28c... Honeywell (HON), consensus $1.49... Synchrony Financial (SYF), consensus 62c... SunTrust Banks (STI), consensus 81c... Progressive (PGR), consensus 55c... W.W. Grainger (GWW), consensus $3.05... Kansas City Southern (KSU), consensus $1.02... JB Hunt Transport (JBHT), consensus 90c... Autoliv (ALV), consensus $1.55... Comerica (CMA), consensus 75c... First Horizon (FHN), consensus 20c.
09:07 EDTHDSHD Supply remains a top idea, says Baird
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07:47 EDTHDSHD Supply deal very positive, says SunTrust
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07:35 EDTHDSAnixter to host conference call
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07:23 EDTHDSHD Supply to host conference call
Conference call to discuss agreement to sell HD Supply Power Solutions business unit to Anixter Inc. will be held on July 16 at 8am. Webcast Link
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