Fastenal Company Q1 Profits Rise; Declares Dividend (FAST)

Fastenal Company (FAST) reported higher first quarter earnings on Friday, which came in above analysts’ estimates.

FAST’s Earnings in Brief

FAST reported Q1 earnings of $111.93 million, or 38 cents per share, up from $109.05 million, or 37 cents per share, a year ago. Revenues rose to $876.50 million from $806.33 million last year. On average, analysts expected to see 37 cents in earnings and revenue of  $869.99 million. The company noted that the growth in revenue was primarily due to higher unit sales. FAST also reported that although sales were negatively affected by the harsh winter in January and February, the timing of Easter should help March sales.

FAST Announces Dividend

FAST will pay its next quarterly dividend of 25 cents on May 23 to shareholders of record on April 25.

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Stock Performance

Fastenal Company shares were up $1.42, or 2.80% during premarket trading Friday. The stock is up 6.78% YTD.

FAST Dividend Snapshot

As of Market Close on April 10, 2014

Click here to see the complete history of FAST dividends.