Fastenal Company (NASDAQ: FAST) fell short of Wall Street's second-quarter earnings expectations, with the industrial supply firm confessing to a 43% slide in net profit for the period. Specifically, FAST raked in earnings of $43.5 million, or 29 cents per share, while revenue dwindled 21% to $474.9 million. Analysts were looking for a more robust quarterly profit of 33 cents per share on $487 million in revenue.

"As we saw in the previous two quarters, the weakened economy continues to have a substantial impact on our business," reported Fastenal in a press release. "These impacts continue to negatively affect our sales, particularly related to our industrial production business . . . and, more recently, our non-residential construction business."

Tractor Supply Company (NASDAQ: TSCO) is on the upswing today after the retailer raised its second-quarter profit estimate. The company now expects to earn $1.48 to $1.50 per share in the second quarter, compared to analysts' consensus forecast for a profit of $1.24 per share. Full-year earnings are now expected to range between $2.78 and $2.92 per share, again outpacing Wall Street's average estimate of $2.64 per share.

Tractor Supply cited tighter control over its marketing expenses for the upwardly revised earnings guidance. However, the retail issue expects consumer spending trends to remain weak through the remainder of 2009, and accordingly trimmed its full-year revenue outlook. The company is now predicting sales of $3.15 billion to $3.25 billion for 2009, down from its earlier guidance of $3.20 billion to $3.30 billion.

Potash Corp. of Saskatchewan (NYSE: POT) is under fire today after the firm lowered its second-quarter earnings outlook. Late Thursday, POT said it now expects earnings per share of 70 cents, compared to its prior outlook of $1.10 to $1.50 per share.

The company chalked up its slashed guidance to "substantially lower than forecasted potash sales volumes due to deferral of purchases by customers around the world and lower realized prices for phosphate fertilizers."

POT's full second-quarter results will be reported on July 23. Analysts surveyed by Thomson Reuters are looking for a profit of 81 cents per share, on average.