Fastenal's profits, sales increase in first-quarter


Fastenal Co. reported Wednesday that first-quarter net earnings climbed nearly 9 percent to $109 million, Fox Business reports. Sales increased to $806 million, up 4.9 percent from the same quarter last year.

The Star Tribune says the Winona-based company's profit met Wall Street's expectations, but came up short on beating the revenue analysts had expected.

Fastenal, which sells fasteners, tools and other industrial and construction supplies, opened 11 new stores during the first three months of the year, bringing its total to 2,660, according to a news release. The company also installed 4,352 new industrial vending machines, bringing that total to 25,447.

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Fastenal Q3 profit up 13 percent

Lower expenses and a 10 percent sales growth helped boost Fastenal Co's third-quarter net income by 13 percent, RTTNews reports. The Winona-based company, an industrial and construction supplier, posted a profit of $109.3 million, or 37 cents a share, compared to $96.8 million, or 33 cents a share, a year ago.