Fastenal posts strong Q4 sales
Full-year earnings rise 30% for the construction supplies distributor.
Fastenal, the wholesale distributor of construction supplies, reported fourth quarter 2018 net sales increased more than 13% to $1.23 billion from fourth quarter 2017 net sales of $1.09 billion.
Sales for the full year also rose more than 13% to nearly $5 billion from 2017 net sales of $4.4 billion.
Net earnings for the fourth quarter increased nearly 11% to $168.8 million from fourth quarter 2017 net earnings of $152.4 million.
Full-year net earnings were up 30% to $751.9 million from 2017 earnings of $578.6 million.
Sales of our fastener products grew 11.3% on a daily basis and represented 34.4% of sales in the fourth quarter of 2018, the Winona, Minn.-based company said. Sales of non-fastener products grew 14.6% on a daily basis and represented 65.6% of sales in the fourth quarter of 2018.
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