Posted July 12, 2017

Fastenal sales climb 10.6 percent in quarter

Growth in industrial vending business and in new and existing onsite locations drove a 10.6 percent sales gain for Fastenal in the second quarter.

The Winona, Minnesota-based distributor signed 4,881 industrial vending machines during the quarter, an increase of 0.3% over the second quarter of 2016. Fastenal signed 68 new Onsite locations during the second quarter of 2017 compared to 44 signings in the second quarter of 2016, an increase of 54.5%. 

Daily sales of non-fastener products, which represented 63.9% of sales in the second quarter of 2017, grew 12.2%. Daily sales of fastener products, representing 36.1% of sales, grew 7.9%, of which 3.6 percentage points were attributable to the recently acquired Manufacturers Supply Company business.

Net earnings during the quarter were $148.9, an increase of 13.2% compared to the second quarter of 2016. Diluted net earnings per share were 52 cents compared to 45  cents during the second quarter of 2016.

In a separate announcement, Fastenal said June sales of $394.3 million were up 13 percent from $349.0 million in June 2016. Daily sales of $17.9 million compared to $15.9 million in June of last year.