Investing.com - Fastenal (NASDAQ:FAST) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Fastenal announced earnings per share of $0.47 on revenue of $1.7B. Analysts polled by Investing.com anticipated EPS of $0.443 on revenue of $1.68B.
Fastenal shares are down 9% from the beginning of the year, still down 10.90% from its 52 week high of $64.75 set on December 30, 2021. They are outperforming the Nasdaq 100 which is down 14.58% from the start of the year.
Fastenal follows other major Industrials sector earnings this month
Fastenal's report follows an earnings missed by FedEx on March 17, who reported EPS of $4.59 on revenue of $23.6B, compared to forecasts EPS of $4.65 on revenue of $23.41B.
Cintas had beat expectations on March 23 with third quarter EPS of $2.69 on revenue of $1.96B, compared to forecast for EPS of $2.44 on revenue of $1.91B.
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