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Fastenal Q2 profit climbs 8.8% YOY

Fastenal Co. said its second-quarter normalized net income amounted to 48 cents per share, compared with the S&P Capital IQ consensus estimate of 46 cents per share.

EPS rose 10.9% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $140.4 million, a gain of 8.8% from $129.1 million in the prior-year period.

The normalized profit margin rose to 14.1% from 13.6% in the year-earlier period.

Total revenue rose 5.0% year over year to $997.8 million from $949.9 million, and total operating expenses increased from the prior-year period to $772.4 million from $743.3 million.

Reported net income grew 7.0% year over year to $140.1 million, or 48 cents per share, from $130.9 million, or 44 cents per share.