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Highlights
- The net sales of Fastenal Company (NASDAQ:FAST) surged 10% YoY in Q3, FY21.
- Fastenal’s gross profit rose more than 12% YoY in Q3, FY21.
- AZZ Inc. (NYSE:AZZ) expects its net sales to be between US$865 million and US$925 million in fiscal 2022.
Stocks of Fastenal Company (NASDAQ:FAST) and AZZ Inc. (NYSE:AZZ) were up 1% and 2%, respectively, in intraday trading on Tuesday after reporting their quarterly results before the opening bell. The FAST stock traded at US$53.00, up 1.47%, while AZZ traded at US$56.00, up 2.43%, at around 8:50 am ET from their previous closing price.
Let’s look at their quarterly performance here.
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Fastenal Company (NASDAQ:FAST)
Fastenal is a leading distributor of industrial and construction supplies in North America. The company is based in Winona, Minnesota.
Fastenal’s net sales were US$1.55 billion in Q3, FY21, an increase of about 10% YoY. Likewise, its gross profit jumped 12.4% YoY to US$720.2 million in the quarter.
In addition, the company’s operating income was US$318.4 million against US$290.1 million in Q3 FY 20. Its net earnings were US$243.5 million, or US$0.42 per diluted share, versus US$221.5 million, or US$0.38 per diluted share, in Q3, FY20.
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For the nine months ended on September 30, Fastenal’s net earnings were US$693.8 million on revenue of US$4.47 billion. Fastenal has a market cap of US$30.01 billion, a P/E ratio of 34.59, and a forward P/E one year of 33.48. Its EPS is US$1.51.
The 52-week highest and lowest stock prices were US$56.39 and US$42.57, respectively. Its trading volume was 3,727,547 on Oct 11.
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AZZ Inc. (NYSE:AZZ)
Azz is an electric equipment manufacturer based in Fort Worth, Texas. It builds specialty equipment for power generation, transmission, and distribution.
The company’s net sales were US$216.44 million in Q2, FY22, compared to US$203.37 million in Q2, FY21. Its operating income was US$26.52 million against US$0.65 million in Q2, FY21.
Azz Inc’s net income was US$18.97 million, or US$0.76 per diluted share, against a loss of US$1.79 million, or a loss of US$0.07 per diluted share in Q2, FY21.
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For fiscal 2022, the company expects its net sales to be between US$865 million and US$925 million, up from its previous range of US$855 million to US$935 million. In addition, it expects its EPS in the range of US$2.90 and US$3.20 for FY22, from its earlier projection of US$2.65 and US$3.05.
Azz Inc has a market cap of US$1.37 billion, a P/E ratio of 24.85, and a forward P/E one year of 17.98. Its EPS is US$2.20. The stock saw the highest price of US$57.85 and the lowest price of US$32.51 in the last 52 weeks. Its trading volume was 116,017 on Oct 11.
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Bottomline
Both the stocks saw significant growth this year. FAST rose 9.61% YTD, while AZZ surged 17.19% YTD. However, investors should evaluate the companies carefully before investing in stocks.