Fastenal Company Gears Up for Q4 Earnings Announcement
Upcoming Earnings Report: Fastenal Company (FAST), based in Winona, Minnesota, specializes in wholesaling industrial and construction supplies. With a market cap of $41.2 billion, its product range includes fasteners, cutting tools, metalworking supplies, lifting equipment, hardware, plumbing items, and lubricants. The company is set to release its fiscal fourth-quarter earnings for 2024 before trading opens on Friday, January 17.
Analyst Predictions: Analysts anticipate FAST will report a profit of $0.48 per share on a diluted basis, reflecting a 4.4% increase compared to the same quarter last year. Notably, the company has either surpassed or matched consensus estimates in three of the last four quarters, with one miss in the mix.
Yearly Expectations: For the full fiscal year, predictions are for FAST to post an earnings per share (EPS) of $2.03, slightly up from $2.02 in 2023. Looking to fiscal 2025, analysts expect EPS to increase by 7.9% to $2.19.
Stock Performance: Over the past year, FAST saw its stock rise by 11%. However, this is lower than the S&P 500’s gains of 23.3% and the S&P 500 Industrial Sector SPDR’s rise of 15.6% during the same period.
CFO Departure Impact: On December 27, Fastenal’s shares dropped over 2% following the announcement of CFO Lewis’s planned departure in April.
Third Quarter Earnings: Fastenal’s stock jumped 9.8% on October 11 after releasing its Q3 earnings. The reported adjusted EPS of $0.52 met expectations, although revenue was slightly below analysts’ forecasts.
Analysts’ Recommendations: The consensus among analysts regarding FAST stock leans toward caution, with an overall “Hold” rating. Out of 15 analysts, two recommend a “Strong Buy,” eleven suggest a “Hold,” and two advise a “Strong Sell.”
Price Target: The mean price target for FAST is $78.92, indicating a potential upside of 9.7% from current market prices.
On the date of publication, Kritika Sarmah did not have positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
