(Reuters) – Industrial supplies maker Fastenal (NASDAQ ) on Friday posted a third-quarter profit that marginally beat analysts' estimates, benefiting from sustained demand for its safety products.
The company's shares rose about 4.5% in premarket trading.
The Winona, Minnesota-based company makes industrial supplies that include fasteners, one of its biggest revenue generators, along with other products such as protective clothing and communications 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 said.
Fastenal's daily sales rate – a metric used to measure average daily sales – increased about 1.9%, helped by an additional sales day this year.
The nuts and bolts maker posted a profit of 52 cents per share in the quarter ended Sept. 30, marginally beating Wall Street estimates of 51 cents per share, according to data compiled by LSEG.
The company's revenue increased about 3.5% from a year ago to $1.91 billion. Analysts had estimated third-quarter revenue of $1.9 billion.
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=();t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)(0);s.parentNode.insertBefore(t,s)}(window, document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
