Fastenal posts 14.8 percent 4Q sales gain
Fastenal Company reported fourth quarter sales of $1.1 billion, a 14.8 percent increase from $948 million in the same period last year.
Net earnings of $152.4 million improved by 32.8 percent from net earnings of $114.8 million in the fourth quarter of 2016.
For the full year, net sales of $4.4 billion were 10.8 percent higher than $3.9 billion in 2016.
For the year, net earnings of $578.6 million, or $2.01 per diluted share, compared to $499.4 million, or $1.73, in 2016.
Fastenal's March acquisition of Manufacturers Supply Company increased sales growth by 1.4 percentage points. The remaining portion of the increase was driven primarily from improvement in underlying market demand and contribution from industrial vending and onsite locations.
Fastener products represented 35.0 percent of sales in the fourth quarter of 2017. Daily sales of fastener products grew 13.4 percent in total, of which 3.9 percentage points were attributable to the recently acquired Mansco business. Sales of non-fastener products represented 65.0 percent of sales in the fourth quarter of 2017 and grew 16.1 percent on a daily basis.
December results
In a separate announcement, Fastenal said its December sales of $323.3 million were 9.3 percent higher than sales of $295.8 million in December 2016. Daily sales of $16.2 million increased 14.7 percent from $14.1 the previous December.
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.
