Fastenal Third Quarter 2024 Earnings: EPS Beats Expectations

Fastenal (NASDAQ:FAST) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.91b (up 3.5% from 3Q 2023).
• Net income: US$298.1m (flat on 3Q 2023).
• Profit margin: 16% (in line with 3Q 2023).
• EPS: US$0.52 (up from US$0.52 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Fastenal EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.0%.

Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Trade Distributors industry in the US.

Performance of the American Trade Distributors industry.

The company's shares are up 9.5% from a week ago.

Valuation

Our analysis of these results suggests Fastenal may be overvalued based on 6 important criteria we look at. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.