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Fastenal Q3 profit climbs 12.4% YOY

Fastenal Co. said its normalized net income for the third quarter amounted to 49 cents per share, compared with the S&P Capital IQ consensus estimate of 50 cents per share.

EPS increased 13.0% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $141.2 million, a gain of 12.4% from $125.6 million in the year-earlier period.

The normalized profit margin rose to 12.5% from 12.4% in the year-earlier period.

Total revenue increased 11.8% on an annual basis to $1.13 billion from $1.01 billion, and total operating expenses climbed 11.6% on an annual basis to $904.4 million from $810.4 million.

Reported net income grew 13.0% year over year to $143.8 million, or 50 cents per share, from $127.2 million, or 44 cents per share.