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Shortfall Costs Fastenal

Stock quotes in this article: FAST  

Fastenal(FAST Quote) dropped 8% Wednesday after missing Wall Street's second-quarter earnings target.

The Winona, Minn.-based company earned $51.5 million, or 34 cents a share, in the quarter, compared with $44.6 million, or 30 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 36 cents a share in the most recent quarter.

Second-quarter revenue rose 19.7% to $458.8 million as against analysts' expectation of $458.7 million. ...

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