By Katherine Hamilton
Fastenal reported higher profit and revenue for the first quarter and plans to invest more in its hubs over the course of this year.
The fastener maker on Friday posted a profit of $298.7 million, or 52 cents a share, in the three months ended March 31, compared with $297.7 million, or 52 cents a share, a year earlier.
Revenue rose 3.4% to $1.96 billion. Analysts surveyed by FactSet forecast revenue of $1.95 billion.
Fastenal had an increase in unit sales during the first quarter because it had more customer sites spending $10,000 or more a month with the company, it said. Price levels remained relatively stable.
In 2025, Fastenal expects to increase investment in property and equipment to between $265 million and $285 million, up from $214.1 million in 2024. It anticipates higher distribution center spending to complete its upgraded hub in Utah, begin construction in Atlanta and improve capacity across its network.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 11, 2025 07:38 ET (11:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。