Fastenal’s Q3 Sales Up 13%

Strong market demand drives distributors growth as quarterly sales hit $1.28 billion.

Fastenal Co. (Nasdaq: FAST), Winona, MN, reported sales of $1.28 billion for the third quarter ended September 30, 2018, a 13 percent increase compared to the year-ago period. Earnings rose 38 percent to $198 million.

Continued strong demand for its products and services drove the quarterly sales growth, the company said, pointing to particular strength in its industrial vending and onsite locations business. Fastenal said it signed nearly 6,000 industrial vending devices during the quarter–an increase of 23 percent compared to the third quarter of 2017–and added 88 new onsite locations, an 8 percent increase over the year-ago period.

 

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