Posted January 17, 2020

Fastenal sales increased by 7.4 percent

Fastenal Company reported annual sales of $5.3 billion for 2019, a 7.4 percent gain from $4.9 billion the previous year.

Net earnings of $790.9 million, or $1.38 per diluted share, compared to earnings of $751.9 million, or $1.31, the previous year.

In the fourth quarter, net sales of $1.3 billion increased 3.7 percent from $1.2 billion in last year's fourth quarter. Earnings in the quarter of $178.7 million, or 31 cents a share, grew from earnings of $168.8 million, or 29 cents, in the same quarter last year.

"We signed 21,857 industrial vending devices during 2019 and 5,144 devices during the fourth quarter of 2019. Our installed device count on Dec. 31, 2019 was 89,937, an increase of 10.8 percent over Dec. 31, 2018. Daily sales through our vending devices grew at a low double-digit pace in the fourth quarter of 2019 over the fourth quarter of 2018 due to the increase in the installed base," the company said.

The Winona, Minnesota-based distributor signed 362 new Onsite locations during 2019 and 79 new Onsite locations during the fourth quarter. 

Daily sales to national account customers grew 8.2 percent in the fourth quarter over the fourth quarter of 2018. Revenues attributable to national account customers represented 54.8 percent of total revenues in the period.

In a separate announcement, the company reported sales of $373.7 million for the month of December, a 6.3 percent increase from $351.6 million in December 2018. Daily sales of $18.7 million compared to $18.5 million in the same month last year.