Fastenal misses in Q3, but cash flow is okay - Steven Mallas

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Fastenal misses in Q3, but cash flow is okay
Oct 13, 2009 11:00 PM UTC

Steven Mallas

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Via BloggingStocks:

Filed under: Earnings reports

Fastenal Company (NASDAQ: FAST), a company that sells supplies to the construction industry and whose colleagues include W.W. Grainger (NYSE: GWW) and MSC Industrial Direct Co. (NYSE: MSM), didn't do so well in its third quarter. According to Reuters, per-share profit missed expectations by a penny, coming in at 32 cents. Net sales, however, met expectations at $489 million.

A comparison of this year's data to last year's results also indicates a rather tepid performance. Fastenal earned 49 cents per share in the year-ago period according to the actual press release. In addition, the current quarter's top line saw a decline of well over 20%. The economy is limiting Fastenal's ability to grow, no question about that.

Continue reading Fastenal misses in Q3, but cash flow is okay

Fastenal misses in Q3, but cash flow is okay originally appeared on BloggingStocks on Tue, 13 Oct 2009 18:00:00 EST. Please see our terms for use of feeds.

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