Fastenal's Focus on On-Site, Vending, and National Accounts Continues to Support Strong Growth
Fastenal closed its fiscal 2018 with solid fourth-quarter results that met Wall Street estimates. The wide-moat industrial distributor's fourth-quarter revenue grew 13.2% year over year to $1.2 billion and adjusted EPS, which excludes a $3.2 million discrete tax expense, also increased 13.2% to $0.60. Revenue growth was strong across Fastenal's product lines. Non-fastener product revenue grew 14.6% and fastener products grew 11.3% year over year. Fastenal's key growth strategies--national accoun...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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