WINONA (dpa-AFX) - Shares of Fastenal Company (FAST) are down more than 5
percent in pre-market on Thursday after its first-quarter profit missed the
Street expectations.

'We continued to experience a divergence in the performance of our fastener
versus our non-fastener product lines in the first quarter of 2024,' the company
said.

Net profit was $297.7 million, or $0.52 per share for the first quarter,
compared with $295.1 million, or $0.52 per share, in last year's first quarter. The consensus estimate was for $0.53 per share.

Revenue for the quarter rose 2.2 percent to $1.895 billion from $1.859 billion
last year. Analysts expected revenue of $1.91 billion.

Fastenal shares had closed at $74.74, down 1.53 percent on Wednesday. The stock
has traded in the range of $50.30 - $79.04 in the last 1 year.



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