Fastenal profits rise in Q4

Fastenal Company posted fourth quarter sales of $1.36 billion, rising 6.4% from fourth quarter 2109 sales of $1.28 billion.

The Winona, Minn.-based distributor said the sales increase was due to higher unit sales of safety and janitorial products, including continued demand for personal protective equipment (PPE) and sanitizer products.

Sales for the full year 2020 increased nearly 6% to $5.65 billion from sales of $5.33 billion in 2019.

Fastenal also reported net earnings of $196.1 million for the fourth quarter, rising 9.7% from net earnings of $178.7 million in the fourth quarter 2019.

Net earnings for the year increased 8.6% to $859.1 million from net earnings of $790.9 million in the prior year.

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The Bottom Line: Profits rise nearly 10% in the fourth quarter as sales climb 6.4%.

Company info: Fastenal’s full fourth quarter 2020 and year-end financial report is available here.