Fastenal reports improved first quarter net sales
Fastenal Company, a wholesale distributor of industrial and construction supplies, has announced that year-over-year net sales for the quarter ending March 31, 2018 increased $138.1, or 13.2 percent for the period.
The company's March 31, 2017 acquisition of Manufacturers Supply Co. increased Fastenal sales growth by 1.3 percentage points. The remaining portion of the increase was driven primarily by higher unit sales.
Fastener products represented 35 percent of sales for the company in the first quarter of 2018. Daily sales of fastener products grew 11.8 percent in total, of which 3.7 percentage points were attributable to the acquired Mansco business.
The sales of nonfastener products represented 65 percent of sales in the first quarter of 2018 and grew 14.5 percent on a daily basis, the company said.