LONDON, UK / ACCESSWIRE / April 27, 2018 / Active-Investors.com has just released a free earnings report on Fastenal Co. (NASDAQ: FAST). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FAST. The Company reported its first quarter fiscal 2018 operating and financial results on April 05, 2018. The maker of industrial and construction fasteners revenue and earnings figures met market expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Fastenal most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the quarter ended March 31, 2018, Fastenal's net sales increased 13.2% to $1.19 billion compared to $1.05 billion in Q1 FY17. The Company's acquisition of Manufacturers Supply Co. ("Mansco") on March 31, 2017, increased sales growth by 1.3%, while the remaining portion of the increase was driven primarily by higher unit sales. Fastenal's revenue numbers were in-line with market estimates.

During Q1 2018, Fastenal's Fastener products represented 35.0% of sales. Daily sales of fastener products grew 11.8% in total, of which 3.7% were attributable to the acquired Mansco business. The Company's sales of non-fastener products represented 65.0% of sales in the reported quarter, and grew 14.5% on a daily basis.

During Q1 2018, Fastenal's gross profit, as a percentage of net sales, declined 73 basis points to 48.7% from 49.4% in Q1 FY17. The Company's reported quarter gross profit percentage was adversely affected by changes in product and customer mix, the inclusion of Mansco (lower gross profit product mix than the Company), and higher product and freight expenses.

For Q1 2018, Fastenal's operating income, as a percentage of net sales, declined 50 basis points to 19.8% from 20.3% in Q1 2017, primarily attributable to a 22 basis-point improvement in the Company's operating and administrative expenses, which was more than offset by the decline in gross profit.

Fastenal recorded income tax expenses of $57.6 million in Q1 2018, or 24.8% of earnings before income taxes (EBIT), reflecting the impact of the Tax Cuts and Jobs Act 2017 (TCJA).

Fastenal's net earnings were $174.3 million, or $0.61 per diluted share, during Q1 2018 compared to $134.2 million, or $0.46 per diluted share, in Q1 2017. The Company's earnings matched Wall Street's estimates of $0.61 per share.

Growth Driver Performance

During Q1 2018, Fastenal signed 5,679 industrial vending devices, reflecting an increase of 4.5% on a y-o-y basis. The Company's installed device count was 73,561 on March 31, 2018, reflecting an increase of 14.2% versus March 31, 2017. Fastenal's sales through its vending devices continued to grow at a strong double-digit pace in the reported quarter, due to the increase in the installed base, and to a lesser degree, an increase in revenue per device.

During Q1 2018, Fastenal signed 100 new onsite locations compared to 64 signings in Q1 2017, representing an increase of 56.3%. The Company had 678 active sites on March 31, 2018, which represented an increase of 55.1% compared to March 31, 2017.

Fastenal signed 36 new national account contracts in Q1 2018, and revenues attributable to national account customers represented 50.3% of the Company's total revenues in the period. For Q1 2018, Fastenal's Daily sales to its national account customers grew 17.3% on a y-o-y basis.

Balance Sheet and Cash Flow

For Q1 2018, Fastenal produced an operating cash flow of $159.7 million, representing 91.6% of net earnings versus 156.8% of net earnings in Q1 2017. The Company invested $28.8 million for property and equipment, net of proceeds from sales, in the reported quarter, compared to $19.1 in the prior year's same quarter, as a result of an increased spending in 2018 to date, related primarily to automation projects and upgrades at the Company's distribution centers.

Fastenal's total debt was $405.0 million at the end of Q1 2018, or 15.7% of total capital, compared to $365.0 million, or 15.6% of total capital, at the end of Q1 2017. Fastenal's inventories were $1.13 billion at the end of Q1 2018, up 12.7% on a y-o-y basis, primarily to support healthy business activities and sales growth.

Stock Performance Snapshot

April 26, 2018 - At Thursday's closing bell, Fastenal's stock marginally advanced 0.59%, ending the trading session at $49.86.

Volume traded for the day: 3.83 million shares, which was above the 3-month average volume of 2.92 million shares.

Stock performance in the previous six-month period ? up 6.45%; and past twelve-month period ? up 8.84%

After yesterday's close, Fastenal's market cap was at $14.39 billion.

Price to Earnings (P/E) ratio was at 24.10.

The stock has a dividend yield of 2.97%.

The stock is part of the Services sector, categorized under the Industrial Equipment Wholesale industry. This sector was up 1.0% at the end of the session.

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