Fastenal Sees Fourth Quarter Gains

The Fastenal Company had net sales of $1.7 billion in the fourth quarter of 2022, up 10.7 per cent compared to net sales of $1.53 billion in the fourth quarter of 2021.The increase was due to higher unit sales demand. Gross profit as a percentage of net sales declined to 45.3 per cent in the quarter from 46.5 per cent in the prior-year period. Net earnings were $245.6 million, an increase of 6.2 per cent compared to $231.2 million last year.