Shares of Fastenal company accounted for the financial results of the 1st quarter

Fastenal company (Nasdaq:fast) shares took a hit Wednesday after its profit for the first quarter of 2018.

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Fastenal company reported earnings per share of 61 cents for the first quarter of 2018. This is more than its earnings per share of 46 cents from the same period last year. It is also consistent with the earnings on wall street to estimate the share of 61 cents for the quarter.

Net income the company said Fastenal for the first quarter of the year were 174.30 million dollars. It depends on his net income from 134.20 million dollars, said the company in the first quarter of 2017.

Fastenal company also reported operating income of $ 234.50 million in the first quarter of 2018. Manufacturer of fasteners has reported operating profit of 212.50 million $in the same period a year ago.

The company reports company Fastenal for the first quarter of the year amounted to USD 1.19 billion. It’s better than the revenue of 1.05 billion dollars in the same quarter of the previous year. It also comes in slightly above the revenue estimate of analysts of 1.18 billion dollars for the first quarter of 2018.

Fastenal company notes that its gross profit as a percentage of net sales, falling from 49.4% to 48.7% in the first quarter of 2018. He also notes that operating profit as a percentage of net revenue, compared with 20.3% to 19.8% for the quarter.

Fastenal company also said that its employee costs in the first quarter of the year amounted to 14.4%. Employee costs account for 65% to 70% of the total operating and administrative expenses of the enterprise.

Quick stock fell 6% as of Wednesday Afternoon.

At the time of this writing, William white not to take a position in any of the above securities.

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