Fastenal Company (NASDAQ: FAST) on Thursday announced fourth-quarter 2023 financial results, reporting higher sales and net income.
Net income was $266.4 million, or $0.46 per share, in the fourth quarter of 2023, compared to $245.6 million, or $0.43 per share, in the same period of 2022.
Driving the earnings growth, net sales increased 3.7% year-over-year to $1.76 billion in Q4. The top line benefited from higher unit sales amid strong growth in Onsite locations, particularly those newly opened in 2023 and 2022.