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Fastenal Fastener Sales Grows 1.9% in Q2
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2013-08-02
Industrial and construction product supplier Fastenal Co (Fast) announced its financial report, stating the recent net earning for Q2 grew 7.7% to US$0.121 billion resulted from the continuous growth of revenue and profit ratio. Net earning before tax was US$0.193 billion, up 7.5% over the previous same period. However, the company said that the uncertainty of the global economy and U.S. economic policies in some ways inhibited the growth of revenue.
In the past quarters, the growth of Fastenal’s revenue slowed down due to the weak market demand for industrial supplies and non-residential projects. The fastener sales of the company in Q2 went up by 1.9%, over the 1.7% in Q1, which was, however, far below the 7.8% growth rate in Q2 last year.
In the first half of 2013, the price deflation of part of products offset the sales of products at higher prices, the fastener sales grew 5.1% to US$1.65 billion. Net earning before tax was US$0.368 billion, up 8% from the previous same period; while net earning was US$0.23 billion, up 8.3% from the previous same period. The net earning of the company in Q2 grew from the US$0.112 billion (US$38 cents per share) of Q2 2012 to US$0.121 billion (US$41 cents per share). The revenue grew 5.3% from US$0.805 billion of Q2 2012 to US$0.848 billion). Gross profit margin increased to 52.2% from 51.6% of the previous same period. Up to the end of June, Fastenal has 2,677 stores (+1.6% over the same period last year).
In the past quarters, the growth of Fastenal’s revenue slowed down due to the weak market demand for industrial supplies and non-residential projects. The fastener sales of the company in Q2 went up by 1.9%, over the 1.7% in Q1, which was, however, far below the 7.8% growth rate in Q2 last year.
In the first half of 2013, the price deflation of part of products offset the sales of products at higher prices, the fastener sales grew 5.1% to US$1.65 billion. Net earning before tax was US$0.368 billion, up 8% from the previous same period; while net earning was US$0.23 billion, up 8.3% from the previous same period. The net earning of the company in Q2 grew from the US$0.112 billion (US$38 cents per share) of Q2 2012 to US$0.121 billion (US$41 cents per share). The revenue grew 5.3% from US$0.805 billion of Q2 2012 to US$0.848 billion). Gross profit margin increased to 52.2% from 51.6% of the previous same period. Up to the end of June, Fastenal has 2,677 stores (+1.6% over the same period last year).
2013-08-02
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