Fastenal Co.’s (FAST) third-quarter earnings rose 9.2% on increased sales and slightly higher margins.
As in its second-quarter report, the company again warned that sales growth was held back in part by global economic uncertainty and economic policy uncertainty in the U.S.
Fastenal, which sells fasteners, tools and other industrial and construction supplies, has faced slowing sales-growth momentum in recent quarters amid sluggish demand in its industrial production and nonresidential-construction markets. Prospects for stronger demand in those areas look dim for now, as analysts at William Blair said this week the industrial and non-residential construction markets lack sustained momentum, with no material pickup in non-residential construction expected until 2014. (…)
via Fastenal 3rd-Quarter Net Up 9.2% on Higher Sales – WSJ.com.