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Fastenal Likely Has Further to Fall Before Earnings Recover

NEW YORK (TheStreet) -- Investors who are looking for a safe pick this earnings season should avoid Fastenal (FAST - Get Report) , a distributor of industrial and construction supplies. The slump in the industrial sector, caused by weak oil prices, continues to pressure Fastenal's revenue, and ahead of its third-quarter earnings results, -- due out Tuesday before the opening bell -- there are signs things may get worse before they get better for the company.

Aside from its weak sales, caused by slumping industrial demand, Minnesota-based Fastenal has been hurt by the strong U.S. dollar, which devalues its revenue from overseas markets. This has caused Fastenal to miss Wall Street's revenue targets for five straight quarters. Due to those factors, among...