Fastenal reports second quarter sales growth

Fastenal Co., a provider of industrial and construction supplies and supply vending services, reported sales growth of 13.1 percent in the company's second quarter, which ended June 30. This marks a fifth straight quarter of double-digit growth for Fastenal. Operating income grew 13.3 percent. 

The company signed 5,537 vending devices in the second quarter, a 13.4 percent gain over the same period in 2017. Product sales through vending devices were up more than 20 percent due to the increase in the installed base, and to a lesser degree, an increase in revenue per device.  

The company's 2018 goal for vending device signings remains 21,000 to 23,000.

Topics: Employee Self-Service, Hardware, Self-Checkout, Software, Vending Kiosks

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