BUZZ-Fastenal falls after missing Q4 revenue estimates
Wholesale industrial and construction supplies distributor Fastenal Company's shares FAST.O fall 5% to $71 premarket
FAST posts 3.7% yoy rise in Q4 revenue to $1.82 bln, below analysts' estimate of $1.84 bln - LSEG compiled data
Attributes slow growth rate to softness in manufacturing environment throughout 2024
"This was exacerbated by many of our largest customers enacting unusually sharp production cuts in the last two weeks of December during holiday-related plant shutdowns" - Fastenal
Company says foreign exchange rates hurt Q4 2024 sales, compared with positive impact year ago
Q4 2024 EPS of 46 cents came in line with Q4 2023, but below estimate of 48 cents, according to data compiled by LSEG
In 2024, stock had risen 11%
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))
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