Fastenal Company Reports 2020 Third Quarter Earnings
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Fastenal (FAST) Tops Q3 EPS by 1c
October 13, 2020 6:53 AM EDTFastenal (NASDAQ: FAST) reported Q3 EPS of $0.38, $0.01 better than the analyst estimate of $0.37. Revenue for the quarter came in at $1.41 billion versus the consensus estimate of $1.42 billion.
Net sales increased $34.2, or 2.5%, in the third quarter of 2020 when compared to the third quarter of 2019. This increase was driven primarily by higher unit sales of safety products, where volume moderated relative to the pandemic-driven level of \"surge\" sales in the second quarter of 2020, but remained elevated relative to the third quarter of 2019. Re-opening of the economy has been accompanied by greater demand for personal protection... More
