Fastenal Completes Two-for-One Stock Split
Fastenal shares traded higher on April 11 after the wide-moat-rated industrial distributor reported strong first-quarter revenue and earnings growth. First-quarter revenue grew over 10% year over year to approximately $1.3 billion and GAAP EPS grew an even faster 12% to $0.68, which beat the consensus estimate by one penny. Fastenal's gross profit margin contracted 100 basis points year over year to 47.7% due to greater sales contribution from lower-gross-margin but higher-growth on-site, vendin...Fastenal is engaged in the wholesale distribution of industrial and construction supplies. The company is a distributor of fasteners and related industrial and construction supplies. This includes threaded fasteners, bolts, nuts, screws, studs, and related washers, as well as miscellaneous supplies and hardware, such as pins, machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets, and related accessories. The company's fastener product line is primarily sold under the Fastenal product name.
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