Fastenal Company (NASDAQ: FAST) on Thursday announced its first-quarter 2023 financial results, reporting an increase in sales and net profit.
Net income was $295.1 million, or $0.52 per share in the three-month period, compared to $269.6 million, or $0.47 per share in the first quarter of 2022.
Driving the bottom-line growth, the company’s net sales increased 9% year-over-year to $1.86 billion. There was an increase in unit sales during the three-month period, which contributed to the sales growth.