Fastenal reports 2017 annual and fourth quarter earnings
Fastenal Company announced its financial results for the quarter and year ended December 31, 2017. Net sales increased 108% for the year, and 14.8% in the fourth quarter. Gross profit for the year was 10.1%.
“A return to double-digit sales and pre-tax earnings growth in 2017 was a great way to celebrate our 50th year in business,” said Dan Florness, president and CEO. “Our customers’ demand improved, this demand lifted our business. Also encouraging was how the hard work of Fastenal employees generated accelerating signings and sales growth in our growth drivers. This momentum, our ability to leverage operating expenses, and the benefits of tax reform have set up 2018 to be another strong year for Fastenal.”