Posted October 11, 2017

Fastenal sales up 11.8 percent

Q3 sales hit $1.1 billion.

Fastenal reported net sales for the third quarter increased 11.8 percent to $1.1 billion, compared to $1.0 billion in the third quarter of 2016.

"The third quarter of 2017 ended with September daily sales growing 15.3 percent; we have not seen daily sales growth above 15 percent for almost three years (late 2014)," said Dan Florness, president and chief executive officer. "We are pleased with the trust our customers place in Fastenal, and I am proud of the success realized by each member of the 'Blue Team'. Our growth drivers, combined with a solid economy, are resulting in great growth."

The March acquisition of Manufacturers Supply Company increased daily sales growth by 1.3 percentage points. Adjusting for that, daily sales on an organic basis increased 12.3 percent from the third quarter of 2016.

Net earnings of $143.1 million were up 12.7 percent from $126.9 million in the same period last year. Diluted earnings of 50 cents per share compared to 44 cents in the third quarter of 2016.

In a separate release, Fastenal said its September sales of $371.3 million were up up 9.8 percent from $338.3 million in September 2016. Daily sales of $18.6 million compared to $16.1 million, an improvement of 15.3 percent from a year ago.