Industrial vending and on-site programs support a long growth runway for wide-moat Fastenal.
Fastenal shares surged over 10% during intraday trading on July 11 after the wide-moat industrial distributor reported strong second-quarter results that beat Wall Street estimates. Second-quarter revenue grew 13% year over year to $1.27 billion, beating consensus by about $10 million, and adjusted diluted EPS of $0.70 (which excludes a $0.04 per share one-time tax benefit) increased 35% year over year and beat the $0.66 consensus estimate.ÂFastenal enjoyed strong organic revenue growth driven ...
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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