Fastenal (FAST) shares dropped 5.4% in pre-market trading Tuesday following the release of its fourth-quarter earnings report. The company reported earnings per share (EPS) of $0.26, in line with analyst expectations, but revenue and net income fell short of estimates.
Revenue for the quarter was $2.027 billion, slightly below the consensus estimate of $2.044 billion. Net income also missed expectations, coming in at $294.1 million compared to the estimated $301.9 million. The slight revenue miss and lower-than-expected net income appear to have driven the pre-market sell-off.
Despite the earnings miss, Fastenal's Q4 results showed year-over-year growth, with EPS up from $0.23 and revenue rising from $1.825 billion in the same period last year. However, investors reacted negatively to the shortfall against expectations.