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Fastenal Q2 profit climbs 13.1% YOY

Fastenal Co. said its second-quarter normalized net income was 51 cents per share, compared with the S&P Capital IQ consensus estimate of 50 cents per share.

EPS increased 13.2% year over year from 45 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $146.8 million, a gain of 13.1% from $129.8 million in the prior-year period.

The normalized profit margin climbed to 13.1% from 12.8% in the year-earlier period.

Total revenue rose 10.6% year over year to $1.12 billion from $1.01 billion, and total operating expenses climbed 9.8% from the prior-year period to $884.6 million from $805.3 million.

Reported net income grew 15.4% from the prior-year period to $150.2 million, or 52 cents per share, from $130.1 million, or 45 cents per share.