Posted April 11, 2018

Fastenal sales up 13.2 percent

Fastenal reported first-quarter sales of $1.2 billion, a 13.2 percent increase from $1.0 billion in the same period last year.

The March 2017 acquisition of Manufacturers Supply Company increased sales growth by 1.3 percentage points. The remaining portion of the increase was driven primarily by higher unit sales. 

Net earnings of $174.3 million, or 61 cents per share, compared to earnings of $134.2 million, or 46 cents, in the first quarter of 2017.

The Winona, Minnesota-based distributor signed 5,679 industrial vending devices during the first quarter of 2018, an increase of 4.5 percent compared to the first quarter of 2017. 

Fastenal signed 100 new onsite locations during the first quarter of 2018 compared to 64 signings in the first quarter of 2017,and signed 36 new national account contracts. Revenues attributable to national account customers represented 50.3 percent of total revenues in the period. Daily sales to national account customers grew 17.3 percent in the quarter.

The company also reported that sales in March of $418.6 million increased by 8.2 percent from $386.9 million in March 2017. Daily sales of $19 million were up by 13.1 percent compared to daily sales of $16.8 million in March 2017.