Fastenal Q1 EPS $0.52 Misses $0.53 Estimate, Sales $1.90B Miss $1.91B Estimate
Portfolio Pulse from Benzinga Newsdesk
Fastenal (NASDAQ:FAST) reported Q1 earnings of $0.52 per share, missing the consensus estimate of $0.53. Quarterly sales were $1.90B, slightly below the expected $1.91B. These figures represent a slight increase in sales from the previous year, but earnings per share remained unchanged.
April 11, 2024 | 10:51 am
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Fastenal's Q1 earnings and sales slightly missed analyst expectations, indicating a potential short-term negative impact on its stock price.
Missing both earnings and sales estimates, even by narrow margins, can lead to negative investor sentiment in the short term. Given that the miss was slight, the impact may be moderate but still negative as expectations were not met.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100