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Fastenal Q1 profit climbs 13.9% YOY

Fastenal Co. said its normalized net income for the first quarter came to 43 cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS rose 14.5% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $127.1 million, a gain of 13.9% from $111.6 million in the year-earlier period.

The normalized profit margin increased to 13.3% from 12.7% in the year-earlier period.

Total revenue climbed 8.8% year over year to $953.3 million from $876.5 million, and total operating expenses rose 7.4% from the prior-year period to $749.7 million from $697.9 million.

Reported net income grew 12.6% from the prior-year period to $127.3 million, or 43 cents per share, from $113.0 million, or 38 cents per share.