Industrial supplies giant Fastenal (FAST) posted its first-quarter 2019 earnings before the market opened on Thursday, April 11.
Net sales jumped 10.4% to $1.31 billion in the quarter, with daily sales growing 12.2% to $20.8 million. Net earnings soared 11.4% to $194.1 million.
For the three-month period, Fastenal earned 11.9% more at 68 cents per diluted share. The company signed 5,603 industrial vending devices during the first quarter, with its installed device count at 83,410 on March 31, 2019, up 13.4% from a year ago.
Fastenal also signed 205 new Onsite locations during the period. Fastenal had 945 active sites on March 31, 2019, up 39.4% year-over-year.
For 2019, Fastenal expects vending device signings at 23,000-25,000 units, and Onsite signings of 375-400.
Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!
Most Popular
United Parcel Service (UPS) seems on track to regain lost strength
Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company