Fastenal’s Sales Up 7.9% in Fiscal 2Q - Modern Distribution Management

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Fastenal’s Sales Up 7.9% in Fiscal 2Q

June sales increased 1.9% over the year-ago period.

Fastenal Co. (Nasdaq: FAST), Winona, Minnesota, reported sales of $1.37 billion for its fiscal second quarter ended June 30, 2019, a 7.9% increase compared with same period a year ago. Quarterly profit was $204.6 million, a 3.2% decrease compared to the year-ago period.

Sales for the first six months of Fastenal’s fiscal 2019 were $2.68 billion, a 9.1% increase compared with the first six months of 2018. Profit for the first six months increased 3.4% to $398.7 million.

June sales increased 1.9% to $435.3 million over the year-ago period. The company reported daily sales of $21.8 million, up 7% versus a year ago.

By region, daily U.S. sales grew 5.9% in June, while total North American sales grew 7.2%. By end market, daily manufacturing sales grew 8.7% while non-residential construction grew nearly 3.6%, the company said.

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