Fastenal Sales Up 1.6% in 2Q - Modern Distribution Management

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Fastenal Sales Up 1.6% in 2Q

June sales unchanged year-over-year.

The Fastenal Co. (NASDAQ: FAST), Winona, MN, reported sales for the second quarter of $1 billion, up 1.6 percent year-over-year. Profit was $131.5 million, down 6.3 percent.

The number of stores open in the second quarter was down 0.4 percent year-over-year to 2,605. FAST Solutions machines were up 15.3 percent to 58,346 vending machines. Employee count was up 4.1 percent to 20,324 and daily sales for the second quarter grew 1.6 percent.

For the first six months, sales were $2 billion, up 2.6 percent over the same period the previous year. Profit decreased 3.8 percent to $257.7 million.

Fastenal also reported sales for June of $349 million, unchanged compared to the same period a year ago. Daily sales were unchanged at an average of $15.9 million.

During the month, sales to manufacturing customers fell 2.1 percent, while sales to nonresidential construction customers fell 2.4 percent.

Store count was 2,605 in June, compared to 2,616 a year ago. Employee headcount increased 6.8 percent year-over-year to 20,324.

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