UPDATE: Fastenal Q2 Profit Up 19%

Fastenal Co

reported a 19% rise in its second-quarter earnings. Fastenal's quarterly profit surged to $112.3 million, or $0.38 per share, from $94.1 million, or $0.32 per share, in the year-ago quarter. Its revenue climbed 15% to $804.9 million. However, analysts were expecting earnings of $0.37 per share on revenue of $808 million. Fastenal's gross margin declined to 51.6% from 52.2%. Fastenal shares dropped 1.94% to $38.99 in pre-market trading.