Posted April 11, 2019

Fastenal sales climb 10.4 percent

Fastenal said its first quarter sales of $1.31 billion increased 10.4 percent from $1.2 billion in the first quarter of 2018.

"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, onsite locations, and construction," the company said in a statement announcing the results.

Net earnings of $194.1 million, or 68 cents per diluted share, compared to $174.3 million, or 61 cents, in last year's first quarter. 

Fastenal signed 5,603 industrial vending devices during the first quarter of 2019. The installed device count on March 31 was 83,410, an increase of 13.4 percent over March 31, 2018.