Fastenal sales up 13 percent
Fastenal reported third-quarter net sales of $1.28 billion increased 13 percent from $1.13 billion in the same period last year.
The increase was driven by higher unit sales related primarily to continued strength in underlying market demand and contribution from growth drivers, most notably industrial vending and onsite locations.
Daily sales of $20.3 million compared to daily sales of $18.0 million in the third quarter of 2017.
Net earnings during the quarter were $197.6 million, an increase of 38.1 percent compared to earnings of $143.1 million in the third quarter of 2017. Diluted net earnings per share were 69 cents compared to 50 cents during last year's third quarter.
"We signed 5,877 industrial vending devices during the third quarter of 2018, an increase of 23.2 percent compared to the third quarter of 2017, and signed 17,093 industrial vending devices during the first nine months of 2018, an increase of 13.3 percent compared to the first nine months of 2017," according to a company statement.
Fastenal also reported that sales in September of $400.3 million increased by 7.8 percent compared to sales of $371.4 million in the same month last year. Daily sales of $20.3 million compared to $17.9 million in September 2017.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
