Fastenal Co (FAST) released its first quarter results on Tuesday, April 13, 2021. The company reported net earnings of $0.37 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 4 percent compared to the same period a year ago.
Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota. Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name.
Fastenal's revenue increased 6 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 48.37% for the first quarter compared to the same period in the previous year, and operating margins decreased to 19.78% over the same period. Net earnings for past trailing twelve months were $867.1 million, up 8% from the prior year.
Moving on to the balance sheet, Fastenal’s cash levels jumped 108% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 6.88% this past year. The current ratio for Fastenal now stands at 3.95. The company increased share outstanding by 0.28%.
Shares of FAST are currently trading around $50.06. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 33.25 and price to book ratio of 10.36.