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Fastenal's profits, sales increase in first-quarter

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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.

Click here, to follow Fastenal's stock performance.

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