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Fastenal Q1 profit climbs 5.3% YOY

Fastenal Co. said its normalized net income for the first quarter came to 45 cents per share, compared with the S&P Capital IQ consensus estimate of 46 cents per share.

EPS rose 5.1% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $131.6 million, a gain of 5.3% from $125.0 million in the prior-year period.

The normalized profit margin fell to 12.6% from 12.7% in the year-earlier period.

Total revenue grew 6.2% year over year to $1.05 billion from $986.7 million, and total operating expenses increased 6.4% on an annual basis to $835.6 million from $785.4 million.

Reported net income grew on an annual basis to $133.1 million, or 46 cents per share, from $127.2 million, or 44 cents per share.