Fastenal – No. 12 on Industrial Distribution’s 2014 Big 50 List – reported its 2015 first quarter financials on Friday.
The company posted Q1 total sales of $953.3 million, an 8.8 percent increase year-over-year from Q1 2014. The figure was just shy of Reuters analysts’ predictions of $955.19 million. Daily sales for Q1 were $15.1 million, compared to Q1 2014’s $13.9 million.
Net earnings for the quarter rose 14.0 percent to $127.6 million, beating analysts’ predictions.
While earnings exceeded expectations, Fastenal said sales were hit hard by a slowdown in its business connected to the oil and gas industry. Net sales were also hurt by slight inflationary price changes in non-fastener products.(…)
