July 14 (Reuters) - Industrial supplies maker Fastenal ( FAST )
on Monday beat Wall Street estimates for second-quarter
profit and revenue, helped by higher demand for its safety
supplies.
Shares of the Winona, Minnesota-based company rose 5% in
premarket trading following the results.
The nuts and bolts maker said more of its customers, which
include factories, warehouses and construction sites, among
others, crossed the threshold of $10,000 per month in purchases.
While the threat of President Donald Trump's tariffs led
businesses to front-load goods in the first quarter, it also
prompted firms to avoid major investments in sectors such as
construction, affecting demand for Fastenal's ( FAST ) core products.
"With industrial production still sluggish in the second
quarter of 2025, the performance of our fastener product line
continued to lag our non-fastener product lines," the company
said in its release.
Sales in its non-fastener product lines, which include
industrial supplies such as protective wear and communication
equipment, rose 9.5% in the second quarter, compared with a rise
of 4.2% a year ago.
The company posted quarterly profit of 29 cents per share,
exceeding Wall Street estimates of 28 cents per share, according
to data compiled by LSEG.
Its total second-quarter revenue rose 8.6% to about $2.08
billion, compared with expectations of $2.07 billion.