Fastenal's second-quarter profit rises on gains from larger customers
Fastenal's second-quarter profit rises on gains from larger customers July 14 (Reuters) - Industrial supplies distributor Fastenal FAST.O on Tuesday reported higher second-quarter profit and revenue, driven by strong demand from its bigger clients.
However, shares of the company, which sells construction supplies such as fasteners, nuts, screws and bolts, fell 2.3% in premarket trading.
Fastenal said it benefited from increased customer signings and improvements in product pricing and industrial production in the first half of 2026.
The company said its onsite, digital and supply-chain offerings helped support growth among larger customers.
Fastenal's profit rose to 33 cents per share for the quarter ended June 30, up from 29 cents per share a year ago.
Its quarterly revenue rose 14.7% to $2.39 billion from $2.08 billion a year earlier.
(Reporting by Parth Chandna; Editing by Diti Pujara)
((Parth.Chandna@thomsonreuters.com;))