Oct 11 (Reuters) - Industrial supplies maker Fastenal ( FAST )
on Friday posted a third-quarter profit that marginally
surpassed analysts' estimates, benefiting from a sustained
demand for its safety products.
Shares of the company rose about 4.5% in premarket trading.
The Winona, Minnesota-based company makes industrial
supplies including fasteners - one of its biggest revenue
generators - alongside other products such as protective wear
and communication equipment.
The company estimated that disruption from Hurricane Helene,
a storm that hit six U.S. states about two weeks ago, reduced
its daily sales by 5 to 25 basis points in the quarter, Fastenal ( FAST )
said.
Fastenal's ( FAST ) daily sales rate - a metric used to measure
average sales on a daily basis - rose about 1.9%, helped by an
extra selling day this year.
The nuts and bolts maker posted a profit of 52 cents per
share in the quarter ended September 30, marginally exceeding
Wall Street estimates of 51 cents per share, according to data
compiled by LSEG.
The company's revenue rose about 3.5% from a year ago to
$1.91 billion. Analysts had estimated a third-quarter revenue of
$1.90 billion.