Posted July 12, 2018

Fastenal sales up 13.1 percent

Fastenal reported second-quarter sales of $1.27 billion, a 13.1 percent increase from last year's second quarter.

"This increase was driven by higher unit sales related primarily to continued strength in underlying market demand and contribution from our growth drivers, most notably industrial vending and onsite locations. A lesser contributor to our sales growth in the second quarter of 2018 was higher pricing instituted at the end of the fourth quarter of 2017 to mitigate inflation in the marketplace," according to a company statement.

Net earnings of $211.2 million, or 74 cents per diluted share, compared to earnings of $148.9 million, or 52 cents, in last year's second quarter.

Fastener products represented 35.4 percent of sales in the second quarter of 2018. Daily sales of fastener products grew 11.1 percent. Sales of non-fastener products represented 64.6 percent of sales in the second quarter of 2018 and grew 14.8 percent on a daily basis.

Fastenal also reported that sales in June of $427.2 million were 8.3 percent higher than $394.3 million in June of 2017. Daily sales of $20.3 million compared to $17.9 million in June last year.