Fastenal Co.’s (FAST) first-quarter earnings rose 8.8% as margins improved despite slower-than-expected sales growth, and the company warned the economic activity of its customers slowed during the period.
The wholesale distributor of industrial and construction supplies said the economic environment in January and February was slowed by weather and an extended holiday shutdown, and the activity of its customers slowed further from February to March.
The company doubled its quarterly dividend to 20 cents from 10 cents as its cash reserves strengthened. (…)
via Fastenal 1st-Quarter Net Rose 8.8%; Doubles Quarterly Dividend.