The 10-second takeaway
For the quarter ended March 31 (Q1), Fastenal met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share grew.
Margins grew across the board.
Fastenal booked revenue of $806.3 million. The 10 analysts polled by S&P Capital IQ expected a top line of $817.1 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 Q1 were 8.8% higher than the prior-year quarter's $0.34 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 52.3%, 100 basis points better than the prior-year quarter. Operating margin was 21.6%, 60 basis points better than the prior-year quarter. Net margin was 13.5%, 50 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $877.3 million. On the bottom line, the average EPS estimate is $0.42.
Next year's average estimate for revenue is $3.45 billion. The average EPS estimate is $1.63.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Fastenal is outperform, with an average price target of $50.29.
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