By Kimberly Chin

Fastenal Co. (FAST) said Thursday profit rose 11% for the first fiscal quarter driven by higher sales and strong underlying market demand for products in industrial vending, onsite locations, and construction.

For the quarter ended March 31, the Winona, Minn.-based company said net income was $194.1 million, or 68 cents a share, up from $174.3 million, or 61 cents a share, in the same period last year. Analysts polled by Refinitiv were expecting 67 cents a share.

Revenue came in at $1.31 billion, a 10% increase from the year earlier. Analysts expected $1.31 billion in sales.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

April 11, 2019 07:23 ET (11:23 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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