Industrial supplies giant Fastenal (FAST) is expected to post its first-quarter 2019 earnings before the market opens on Thursday, April 11.
Back in January, Fastenal reported mixed fourth-quarter results, with GAAP net income rising to 59 cents per share from 53 cents per share a year ago. Adjusted net income was 60 cents per share, in line with analyst expectations.
Revenue rose 13% to $1.23 billion, beating the then-estimated $1.22 billion.
As Fastenal approaches the new fiscal year, the market expects adjusted earnings of 66 cents a share on estimated revenue of $1.3 billion.
This is an 8% bump in earnings and a 9.5% rise in top-line from a year ago, hinting that expectations are high among investors.
The underlying industrial market demand, along with robust growth in its core product offerings is expected to lift Fastenal in the to-be-reported quarter.
The demand and the healthy outlook for the non-residential are expected to lift Fastenal further.
In the past quarters, Fastenal sales were helped by a steady rise in the installation of industrial vending machines. Sales through vending devices rose due to this. Signings of industrial vending devices grew 13.6% year over year in 2018.
On-site locations saw a jump, adding to the Fastenal arsenal. As of Dec 31, 2018, Fastenal had 894 active sites, up 48%. This trend is expected to translate into the first quarter as well.
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