Fastenal 3Q sales up 7.8 percent
Fastenal Company reported that its net sales increased 7.8 percent to $1.38 billion in the third quarter of 2019 when compared to the third quarter of 2018.
Net earnings of $213.5 million, or 37 cents per diluted share, were up 8 percent from $197.6 million, or 34 cents, in the same period last year.
"We signed 16,713 industrial vending devices during the first nine months of 2019 and 5,671 devices during the third quarter of 2019. Our installed device count on September 30, 2019 was 88,327, an increase of 12.2% over September 30, 2018. Daily sales through our vending devices grew at a mid-teens pace in the third quarter of 2019 over the third quarter of 2018 due to the increase in the installed base," the company said.
The Winona, Minnesota-based distributor signed 84 new Onsite locations during the quarter and 50 new national account contracts. Revenues attributable to national account customers represented 53.5 percent of total revenues in the period. Daily sales to national account customers grew 10.2 percent in the third quarter of 2019 over the third quarter of 2018.
The company opened two branches in the third quarter of 2019 and closed 22 branches.
INDUSTRIAL SUPPLY MAGAZINE
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