Categories Earnings, Industrials

Fastenal posts jump in Q1 earnings on higher signings

Industrial supplies giant Fastenal (FAST) posted its first-quarter 2019 earnings before the market opened on Thursday, April 11.

Net sales jumped 10.4% to $1.31 billion in the quarter, with daily sales growing 12.2% to $20.8 million. Net earnings soared 11.4% to $194.1 million.

For the three-month period, Fastenal earned 11.9% more at 68 cents per diluted share. The company signed 5,603 industrial vending devices during the first quarter, with its installed device count at 83,410 on March 31, 2019, up 13.4% from a year ago.

 

Fastenal Q1 2019 earnings infographic

Fastenal also signed 205 new Onsite locations during the period. Fastenal had 945 active sites on March 31, 2019, up 39.4% year-over-year.

For 2019, Fastenal expects vending device signings at 23,000-25,000 units, and Onsite signings of 375-400.

 

 

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