Earnings

Fastenal just gave us a glimpse into this earnings season as it tanks on tariff costs

0


Delivery trucks sit parked at loading docks outside the Fastenal Co. distribution center in Jessup, Pennsylvania.

Luke Sharrett | Bloomberg | Getty Images

For those who don’t see the trade war with China hurting U.S. business, a big industrial with a $17 billion market value just sounded the alarm on tariffs costs and related inflation.

The Minnesota-based Fastenal, the largest fastener distributor in North America, reported worse-than-expected second-quarter earnings and revenue on Thursday. The company also particularly noted the damage the trade war has done to its business and the difficulty of countering the losses.

“While we successfully raised prices as one element of our strategy to…



Source cnbc.com

Inside Mel Gibson's former $20 million medieval mansion

Previous article

Earnings season is almost here and companies are warning the results won’t be pretty

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Earnings