Susquehanna Downgrades Fastenal (FAST) to Neutral
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Fastenal (FAST) Reports In-Line Q3 EPS
October 10, 2014 6:50 AM EDTFastenal (NASDAQ: FAST) reported Q3 EPS of $0.45, in-line with the analyst estimate of $0.45. Revenue for the quarter came in at $980.8 million versus the consensus estimate of $977.9 million.
BUSINESS UPDATE
In July 2013, we disclosed our intention to increase our investment in people at the store level and in additional leadership personnel at the district and regional levels. We felt this expanded investment was necessary to add 'selling energy' to the organization. With expanded investment comes expanded expectations - in July 2013 we grew average daily sales over the same month... More
