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.