Fastenal Stock Slips After Q1 Results Miss Estimates on 'Poor Demand'

Key TakeawaysFastenal missed first-quarter profit, sales, and operating profit margin estimates, which it attributed to weaker demand because of a soft manufacturing sector.The company also said bad weather and a "tricky calendar" had negative impacts on results.Sales of fasteners declined 4.4% from the year earlier. Shares of Fastenal (FAST) slipped Thursday as the distributor of fasteners and tools attributed lower-than-expected quarterly results to weakness in the manufacturing sector. The company report ...