Fastenal reports sales gains in Q2
Winona, Minn.-based Fastenal Co. reported second-quarter sales of $847.6 million, up 5.3% from the same quarter last year. The company's net earnings increased 7.7% in the quarter to $121.0 million.
Fastenal had 2,677 stores as of June 30 and at the same time operated 29,549 FAST Solutions industrial vending machines. During the first six months, Fastenal opened 33 new stores.
"Our growth in net sales was impacted by inflationary price changes in our non-fastener products and some price deflation in our fastener products, but the net impacts were limited," the company said in a statement.