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Fastenal Company (NASDAQ:FAST ) Q1 2024 Earnings Conference Call April 11, 2024 10:00 AM ET Company Participants Taylor Ranta - Financial Reporting & Regulatory Compliance Manager Dan Florness - President & Chief Executive Officer Holden Lewis - Chief Financial Officer Conference Call Participants Tommy Moll - Stephens Chris Snyder - UBS Stephen Volkmann - Jefferies Jacob Levinson - Melius Research Patrick Baumann - JPMorgan Ryan Merkel - William Blair Operator Hello, and welcome to the Fastenal 2024 Q1 Earnings Results Conference Call. [Operator Instructions] A question-and-answer session will follow the formal presentation.
Fastenal's (FAST) first-quarter performance reflects the influence of adverse weather conditions and the effects of customer and product mix.
Although the revenue and EPS for Fastenal (FAST) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Fastenal Co (NASDAQ:FAST) fell over 5% in early trading after disappointing with first-quarter results on Thursday morning. Revenue climbed 1.9% to just shy of US$1.90 billion over the quarter, the construction supplier reported, though this was below Wall Street expectations for US$1.92 billion.
Fastenal (FAST) came out with quarterly earnings of $0.52 per share, missing the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.52 per share a year ago.
Fastenal reports first-quarter earnings per share of 52 cents from sales of just under $1.9 billion, missing analysts' estimates on both metrics.
Besides Wall Street's top -and-bottom-line estimates for Fastenal (FAST), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended March 2024.
Fastenal (FAST) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Fastenal (FAST) is well positioned to outperform the market, as it exhibits above-average growth in financials.
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