Fastenal Co. (Nasdaq: FAST), Winona, MN, reported sales of $1.23 billion for the fourth quarter of 2018, a 13 percent increase over the same period in 2017. The distributor reported net earnings of $168.8 million, an 11 percent increase over the year-ago period.
For the full year, Fastenal reported sales of $4.97 billion, up 13 percent compared to 2017. Net earnings for the year rose nearly 30 percent, to $752 million.
Strong underlying market demand, combined with growth in the company’s industrial vending and onsite customer business, drove the fourth-quarter sales growth, Fastenal said. The company reported a 17 percent increase in industrial vending devices during the quarter and an 18 percent increase in onsite locations.
Fastenal also reported an increase in monthly sales for December; net sales reached $351,580, up nearly 9 percent compared with December of 2017.