Fastenal posts sales gains
Industrial supply company points to increases in vending and onsite locations.
Winona, Minn.-based Fastenal Company reported third-quarter sales of $1.28 billion, up 13.0% from sales of $1.13 billion in the prior-year quarter.
Net earnings increased to $197.6 million, up from $143.1 million in the same quarter last year.
The company’s sales gains were caused by higher unit sales related primarily to continued strength in underlying market demand and contributions from industrial vending and onsite locations.
A smaller contribution to sales growth came from higher product pricing as a result of increases instituted at the end of the fourth quarter of 2017 and during July and August of 2018 to mitigate inflation in the marketplace.
The company’s installed device count on September 30, 2018 was 78,706, an increase of 14.0% over a year ago. The company also signed 88 new Onsite locations, which aree defined as dedicated sales and service provided from within, or in close proximity to, the customer’s facility.
HBSDealer Stock Watch: Another tumble
|Most hardware and building supply stocks finished lower on Wednesday.|
|BLDR (Builders FS)||13.48||-0.15%|
|BMCH (BMC Stock)||17.71||-0.73%|
|CENT (Central Garden)||34.41||-2.22%|
|DE (Deere & Co.)||147.46||-1.99%|
|HD (Home Depot)||193.70||-1.05%|
|LL (Lumber Liquidators)||13.88||+1.17%|
|SMG (Scotts Miracle-Gro)||75.62||-2.75%|
|TSCO (Tractor Supply)||84.82||-4.74%|
|UFPI (Universal Forest)||34.11||-0.58%|
Allied Solar partners with CertainTeed
The Beacon Roofing subsidiary will distribute Solstice Solar System.
Allied Solar Products, a subsidiary of Beacon Roofing Supply and one of the nation’s largest distributors of photovoltaic panels and solar accessories, has partnered with CertainTeed to expand the distribution of the manufacturer’s Solstice Solar System.
The move will allow Allied Solar Products to build on its roofing and solar opportunities, according to Dave Jenkins, national vice president of solar for Allied Solar Products, who describes the partnership as “a win for both companies and their contractor customers.”
“Allied Solar always looks for ways to improve its supply chains so we can deliver popular products to as many customers as possible as quickly as possible,” said Jenkins. “The move allows us to leverage our logistics, just-in-time delivery, and dedicated solar sales teams to deliver Solstice.”
CertainTeed’s Solstice system combines components including modules, inverters, mounting and flashing with a single-source warranty. In addition, when installed by one of CertainTeed’s Credentialed or Master Solar Installers, CertainTeed warrants the installation workmanship on the system for up to 25 years.
Solstice systems are designed to maximize roof space and can be configured to best suit the needs of the client, according to CertainTeed.
Mark Stancroff, director of CertainTeed Solar, said the Allied Solar Division’s sales know-how and logistical presence will complement CertainTeed’s strong brand recognition and installer base.
“Allied Solar’s team has strong product knowledge and solar industry expertise,” said Stancroff. “In addition, their parent company Beacon can deliver roofing material for solar jobs that require reroofs. All of this is supported by Beacon’s Pro+ e-commerce platform that allows customers to order 24 hours a day, seven days a week.
“Solar and roofing contractors value these solutions which enable them to stand out in the marketplace,” Stancroff added. “Allied’s logistical capabilities and service platform allow them to provide a steady supply of product to contractors, making their work more efficient. They are a natural fit for the distribution of CertainTeed’s value-added solar solutions.”
Beacon Roofing Supply, based in Herndon, Va., operates more than 550 branches throughout all 50 states and six provinces in Canada. The company distributes
At the start of 2018, Beacon completed its acquisition of Allied Building Products Corp. in a $2.62 billion cash deal.