Skip to main content

Fastenal 2Q earnings jump nearly 19 percent, revenue misses

The Winona-based operator of industrial hardware supply stores reported its net income rose to $112.3 million with help from new store openings and the installation of new industrial vending machines. However, second quarter sales failed to meet Wall Street expectations.
  • Author:
  • Updated:
    Original:

The Winona-based operator of industrial hardware supply stores reported its net income rose to $112.3 million with help from new store openings and the installation of new industrial vending machines. However, second quarter sales failed to meet Wall Street expectations.

Next Up

Screen Shot 2022-07-05 at 7.01.29 AM
MN News

Fireworks likely cause of garage blaze in Hugo

The fire fortunately didn't spread to the house.

Ellie Ragin
MN News

Police obtain 'valuable information' in search for missing 6-year-old Elle Ragin

The 6-year-old is still missing following the death of her mother by suicide.

ambulance
MN News

Fatal crash involving 18-year-old in western Minnesota

The 18-year-old was not wearing a seatbelt, the State Patrol said.

Screen Shot 2020-06-15 at 7.11.05 AM
MN News

2 women stabbed during parking lot brawl in St. Cloud

Police are searching for another woman in connection with the attack.

Screen Shot 2022-07-04 at 10.02.43 AM
MN News

One killed in St. Paul house fire

Two firefighters were injured as they battled the blaze.

police lights
MN News

A year later, man arrested over fatal drive-by shooting in northern MN

The 34-year-old victim died on July 5, 2021.

fireworks-gad76f1de1_1280
MN News

Minneapolis: Stop calling 911 for fireworks noise complaints

The city wants people to submit complaints online instead.

American flag at half-staff/half mast.
MN Shopping

What's open and closed in Minnesota on the Fourth of July

Grocery stores are open, though some have limited hours.

ambulance
MN News

18-year-old killed by exploding firework in Brooklyn Park

Police arrived at the scene to see the victim's friend performing CPR.

Screen Shot 2022-07-03 at 9.31.25 PM
MN News

Boy found in Brooklyn Park is reunited with parents

The boy was found shortly before 6 p.m. Sunday.

police tape, crime scene
MN News

1 dead, 1 arrested after shooting involving teens in Duluth

A 17-year-old was arrested around 1:45 a.m. Sunday. Neither the victim nor the suspect has been identified.

Screen Shot 2022-07-03 at 1.03.19 PM
MN News

NASCAR driver joins MN boy in reclaiming 'Let's go Brandon' slogan

Brandon Brundidge gained recognition when his mother shared the story of how he found inspiration in "Let's go Brandon" signs.

Related

MN News

Fastenal 4Q net income jumps 13 percent

MN News

Fastenal Q3 profit up 13 percent

Lower expenses and a 10 percent sales growth helped boost Fastenal Co's third-quarter net income by 13 percent, RTTNews reports. The Winona-based company, an industrial and construction supplier, posted a profit of $109.3 million, or 37 cents a share, compared to $96.8 million, or 33 cents a share, a year ago.

MN News

Polaris earnings jump 43% during 2Q, will expand in India

Medina-based Polaris Industries Inc. reported a record second quarter net income of $69.8 million or $0.98 per share, Wall Street Journal reports. The better-than-expected results were driven by double-digit sales growth in all types of vehicles, led by its on-road motorcycles.

MN News

U.S. Bancorp's 2Q profit jumps 18 percent

Minneapolis-based U.S. Bancorp reported high-than-expected quarterly profit as revenue rose and set aside less money for bad loans. The fifth-largest U.S. commercial bank posted a net income of $1.42 billion in the second-quarter.

MN News

Fastenal reports May sales jumped 18.4%, Q2 sales in question

Investors were expecting more from the Winona-based company during its historically strong month. Fastenal will now have to post even stronger June sales to match analyst expectations for the second-quarter. It sells everything from bolts to power tools to plumbing equipment at more than 2,600 stores.

MN News

Ecolab net income jumps 47 percent in 2Q after acquisition

St. Paul-based Ecolab posted second quarter sales that jumped 74 percent to $3 billion thanks to its December acquisition of liquid filtration giant Nalco, the Star Tribune reports. Excluding Nalco, sales rose 3 percent during the quarter. All combined, net income jumped an impressive 47 percent to $184.5 million, or 62 cents a share.

MN News

Fastenal's profits, sales increase in first-quarter

MN News

Select Comfort 2Q earnings surge 50 percent

Select Comfort Corp.'s shares soared 19 percent in after-hours trading Wednesday after the company reported it beat Wall Street expectations with strong gains in both sales and profits. The Plymouth-based maker of the Sleep Number bed also announced plans to open more stores than originally expected.