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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fastenal Company | NASDAQ:FAST | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.34 | 0.50% | 68.43 | 68.49 | 71.24 | 68.95 | 68.02 | 68.50 | 2,592,955 | 05:00:11 |
By Allison Prang
Fastenal Co.'s (FAST) profit dropped in the second quarter as net sales rose but the company reported an increase in income tax expense.
The company reported $204.6 million in profit, down 3.1% from the comparable quarter a year earlier. Earnings were 36 cents a share, down from 37 cents a share. Analysts polled by Refinitiv were expecting 37 cents a share.
Net sales rose 7.9% to $1.37 billion. Analysts were expecting $1.38 billion.
Income tax expense rose 22% to $66.8 million. The company's cost of sales also rose 12% and interest expense rose to $3.7 million, up from $3.2 million.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 11, 2019 07:29 ET (11:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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