Fastenal Company sales up 14.3 percent
Fastenal Company reported sales of $980.8 million for the third quarter, an increase of 14.3 percent from $858.4 million reported in the same period last year.
Net earnings of $133.3 million improved 11.3 percent from $119.3 million in last year's third quarter. Earnings per share improved to 45 cents from 40 cents in the prior year period.
Sales for the first nine months of the year were $2.8 billion, up 11.7 percent from $2.5 billion in the same time frame last year. Net earnings for the nine-month period improved 7.5 percent to $375.7 million from $349.4 million last year.
The growth came primarily from higher unit sales.
The Winona, Minn.-based distributor also reported that sales in September increased 18.6 percent to $330.2 million, compared to $278.4 million in September 2013. Daily sales of $15.7 million improved by 12.9 percent from daily sales of $13.9 million in September 2013.
The company had 10,613 employees at the end of the month, 12.0 percent higher than 9,474 employees at the same time last year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
