Proactive Investors - Fastenal Co (NASDAQ:FAST) shares moved higher before Thursday’s opening bell after the industrial supplier’s fourth quarter profit and revenue topped expectations.
The stock had added 5.2% at US$66.65.
For 4Q, Fastenal reported earnings per share of $0.46, up from $0.43 in the year-ago quarter and ahead of estimates of $0.45.
Sales increased by 3.7% year-over-year to $1.76 billion, ahead of expectations of $1.75 billion according to Zacks Consensus Estimate.
The company attributed its improved revenue to higher unit sales due to growth at its Onsite locations and the positive impact of foreign exchange.
For the full year, earnings per share of $2.02 on revenue of $7.35 billion were ahead of estimates of $2 and $7.34 billion, respectively.