Fastenal falls after Q3 results
14/10/2026 13:11
BUZZ-Fastenal falls after Q3 results ** Shares of industrial supplies distributor Fastenal FAST.O down more than 5% at $48.61 after co's Q3 results
** D.A. Davidson analyst Christopher Dankert says September average daily sales, a closely watched gauge of demand, grew 14.4% y/y, below investor hopes of about 17%-18%
** Adds that investors are focused on the sales miss, despite strong beats on gross and EBIT margins
** Q3 rev of $2.46 bln beats est. of $2.44 bln, per LSEG data
** Profit rises ~21% to 35 cents per share from year-ago quarter
** As of last close, stock had risen 28.16% YTD
(Reporting by Miraanta Lowrance in Bengaluru)