Why Industrial And Construction Supplies Distributor Fastenal's Shares Are Gaining Today
Portfolio Pulse from Akanksha Bakshi
Fastenal Company (NASDAQ:FAST) reported Q3 FY23 sales growth of 2.4% Y/Y to $1.845 billion, slightly missing the consensus of $1.85 billion. The company's net daily sales growth increased 4% YoY, primarily due to growth at its Onsite locations. Q3 EPS was $0.52, beating the consensus of $0.50. The company declared a dividend per share of $0.35. FAST shares are trading higher by 4.12% at $58.32 premarket on Thursday.
October 12, 2023 | 1:30 pm
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POSITIVE IMPACT
Fastenal's Q3 FY23 sales slightly missed consensus but EPS beat expectations. The company declared a dividend per share of $0.35. FAST shares are trading higher premarket.
Fastenal's Q3 sales slightly missed consensus, which could have a negative impact on the stock. However, the company's EPS beat expectations, which is a positive signal for investors. The declaration of a dividend per share of $0.35 also adds value for shareholders. The stock is trading higher premarket, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100