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Fastenal Q2 sales jump

Net sales for the first 6 months of 2018 have increased more than 13% to $2.45 billion

BY HBSDealer Staff

Fastenal reported second quarter 2018 net sales of $1.27  billion, more than a 13% increase from net sales of $1.12 billion for the same period in 2017.

Net sales for the first 6 months of 2018 also increased more than 13% to $2.45 billion from $2.17 billion for the same 6-month period a year ago.

The Winona, Minn.-based company also reported a second quarter net income of $211.2 million, rising 42% from net earnings of $148.9 million during the corresponding quarter last year.

Net earnings for the first 6 months rose more than 36% to $385.5 million from earnings of $283.1 million during the first half of 2017.

The industrial and construction supplier opened five branches in the second quarter and closed 43 branches. Additionally, one branch was converted from a public branch to a non-public location. At the end of the quarter, Fastenal operated or served more than 3,000 locations.

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