Global Fastener News

Fastener Sales Rise at Fastenal

Fastener Sales Rise at Fastenal
October 11
15:30 2017

Fastenal reported daily fastener sales, which represented 35.6% of total sales, grew 12.1% to approximately $403 million in the third quarter of 2017, with 3.8 percentage points attributable to the recently acquired Mansco business.

During the second quarter of 2017, Fastenal’s fastener sales grew 7.9% to $404.9 million.

Overall Q3 sales gained 11.8% to $1.13 billion. Daily sales growth reached 15.3% to $18 million, driven by higher unit sales.

“We have not seen daily sales growth above 15% for almost three years (late 2014),” stated CEO Dan Florness.

Q3 operating income gained 12.6% to $228.5 million, while gross profit as a percentage of sales declined 20 basis points to 49.1% and net earnings increased 12.7% to $143.1 million.

Fastenal signed 4,771 industrial vending machines during Q3, pushing the company’s installed device count up 14.3% to 69,058.

Overall sales during the first nine months of 2017 increased 9.6% to $3.3 billion, with daily sales up 10.1% to $17.3 million. Nine-month operating income improved 10.4% to $672.3 million, while net earnings gained 10.8% to $426.2 million.

During 2017, Fastenal’s headcount has increased 6.5% to 17,329 full-time employees. Web: Fastenal.com

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