The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Fastenal met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share expanded.
Gross margins shrank, operating margins grew, net margins grew.
Fastenal reported revenue of $802.6 million. The 11 analysts polled by S&P Capital IQ looked for revenue of $804.8 million on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $726.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.37. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.37 per share. GAAP EPS of $0.37 for Q3 were 12% higher than the prior-year quarter's $0.33 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 51.6%, 30 basis points worse than the prior-year quarter. Operating margin was 21.9%, 60 basis points better than the prior-year quarter. Net margin was 13.6%, 30 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $780.4 million. On the bottom line, the average EPS estimate is $0.35.
Next year's average estimate for revenue is $3.16 billion. The average EPS estimate is $1.45.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Fastenal is hold, with an average price target of $43.29.
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