10/9/2013 12:34:00 PM
NEWS BRIEFS
Fastenal Reports Modest Fastener Growth
Fastenal Co. reported sales, including fasteners, increased 7% to $858.4 million in the third quarter of 2013, with net earnings up 9.2% to $119.3 million. Fastener sales grew modestly, rising 1% during the quarter, down from the 1.9% rate of increase for fasteners in the second quarter.
Sales during the first nine months of 2013 gained 5.7% to $2.51 billion, primarily from higher unit sales. Those results were impacted by “some price deflation in our fastener products.” Nine-month net earnings grew 8.6% to $349.4 million.
In 2013 Fastenal has opened 44 new stores, an increase of 1.7% since December 2012. The company store total stands at 2,686 stores.
At the same time Fastenal has installed 11,153 new industrial vending machines, an increase of 52.9% since December 2012. The company currently operates 32,248 machines.
Fastenal’s workforce has increased 9.1% to 16,529 employees at the end of September. ©2013 GlobalFastenerNews.com
Related Stories:
• Carpenter Technologies Turns A Corner
• Fastener Stocks See Strong Growth
• Fastener Coalition Begins New Talks About Industry Collaboration
Related Links:
Share: