Fastenal Sales Rise 3.5% in 1Q

Sales for March increased 4.5 percent year-over-year.

The Fastenal Company, Winona, MN, (Nasdaq: FAST) reported sales for the first quarter of $986.7 million, up 3.5 percent from the first quarter a year ago. Profit was $126.2 million, down 1.1 percent from the same period in 2015.

Daily sales increased 1.9 percent for the quarter to $15.4 million.

The number of stores open in the first quarter was up 0.1 percent year-over-year to 2,626. FAST Solutions machines were up 17.2 percent to 56,889 vending machines. Employee count was up 5.8 percent year-over-year to 13,658.

The company also reported sales for March of $357.1 million, a 4.5 percent increase over the same period a year ago. Daily sales were flat at $15.5 million.

During the month, sales to manufacturing customers decreased 0.5 percent, while sales to nonresidential construction customers decreased 2.1 percent.

Store count was 2,626, compared to 2,624 a year ago. Employee headcount increased 6.7 percent year-over-year to 20,509.

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