Industrial and construction supplies distributor reported its June sales metrics and 2025 second quarter financial results on July 14, showing a solid acceleration in sales and profit growth.

The Winona, MN-based distributor posted a 9.8% year-over-year increase in daily sales for June, which was its best month since January 2023’s 11.2%.

The Big Picture

• The June report showed that daily sales increased 9.8% year-over-year, accelerating from May’s 9.3% and was its best month since January 2023, which was still heavily influenced by post-pandemic inflation. Total sales of $701 million also increased 15.3% year-over-year, with June 2025 have one additional business day.
• Fastenal’s June average daily sales growth narrowly trailed the 9.9% projected by Baird’s Industrial Distribution Equity Research unit
• June daily sales had strong growth in all geographies, led by international in double digits
• June daily sales growth continued in the company’s top end market of Heavy Manufacturing, while likewise increasing in Non-residential, Construction and Reseller. Other Manufacturing continued to increase but at a slower pace compared to May.
• A majority of Fastenal’s largest national account customers saw monthly daily sales growth in June — holding steady compared to May, while growth from non-national accounts declined slightly vs. May.
• 2Q total sales of $2.08 billion increased 8.6% year-over-year, far outpacing 1Q’s 3.4% growth. There was one more selling day in 2Q25 vs 2Q24.
• 2Q gross margin of 45.3% increased by 20 basis points year-over-year, topping Baird’s 45.0% estimate
• Fastenal’s largest market, Heavy Manufacturing, saw a solid year-over-year increase in 2Q and was outpaced by double digit growth in Other Manufacturing
• Net daily sales saw an 8.6% jump in 2Q year-over-year

“Overall, it was a good quarter for FAST as company-specific momentum continues to build, while pricing remains biased higher,” Baird said in an analyst note.

MDM Case Study: Fastenal (Premium access here) 

Go Deeper

Below, find Fastenal’s June 2025 sales report and how each metric compared with May’s, as well as the first quarter breakdown:

June Daily Sales by Geography, Year-Over-Year:

• United States – 83.0% of sales: +9.7% (+9.4% in May)
• Canada/Mexico – 13.6% of sales: +9.4% (+9.4% in May)
• Rest of World – 3.4% of sales: +15.2% (+14.3% in May)

June Daily Sales by Product Line:

• Fasteners – 30.5% of sales: +9.5% (+8.9% in May)
• Safety – 22.6% of sales: +11.7% (+10.4% in May)
• Other – 46.9% of sales: +9.24% (+9.2% in May)

June Daily Sales by Customer End Market: 

• Heavy manufacturing – 43.2% of sales: +9.2% (+8.6% in May)
• Other manufacturing – 32.8% of sales: +12.1% (+12.8% in May)
• Non-residential construction – 8.1% of sales: +4.7% (+3.3% in May)
• Other – 15.9% of sales: +10.4% (+7.6% in May)

June Daily Sales by Customer Category: 

• National accounts: +13.0% (+12.0% in May)
• 0% of Top 100 national accounts were growing (59.0% in May)
• Non-national accounts: +3.0% (+4.0% in May)
• 4% of in-market locations were growing (56.5% in May)
• FMI: +16.0% (+15.0% in May)
• eBusiness: +13.0% (+14.0% in May)

In the Store: MDM’s U.S. MRO Market Trends Report 

June Headcount

Fastenal ended June with a total headcount of 24,362, up 0.7% from May and up 3.1% year-over-year. Full-time selling headcount of 21,807 was up 1.7% from May and likewise up 2.6% year-over-year.

2Q Results

Fastenal’s 2Q sales of $2.08 billion increased 8.6% year-over-year, up from 1Q25’s growth rate of 3.4%. Daily sales grew 8.6% year-over-year in 2Q, soaring past 1Q’s 3.4%.

Fastenal’s 2Q operating profit of $436.1 million on margin of 21.0% was bested  the2Q24’s $386.9 million and 20.2% of a year earlier. 2Q net profit of $330.3 million increased from 1Q’s $298.7 million and from 2Q24’s $292.7 million.

2Q gross margin of 45.3% increased 20 bps year-over-year, and likewise increased 20 bps from 1Q, which the company attributed to modestly favorable pricing and costs, higher margins on fastener sales associated with the fastener expansion project and progress on other supplier-related initiatives, partially offset by less favorable customer and product mix, increased import duties and rising fleet and transportation expenses.

Here’s how Fastenal’s 2Q daily sales performed by product line on a year-over-year basis (and how it compared with 1Q)

• • OEM Fasteners (19.4% of total): +8.4% (+3.9% in 1Q)
  • MRO Fasteners (11.1% of total): +3.4% (-3.3% in 1Q)
• Total Fasteners (30.5% of total): +6.6% (+1.1% in 1Q)
  • Safety Supplies (22.2% of total): +10.7% (+7.1% in 1Q)
  • Other Products (47.3% of total): +9.0% (+6.7% in 1Q)
• Total Non-Fasteners (69.5% of total): +9.5% (+6.8% in 1Q)

Here’s how Fastenal’s 2Q daily sales performed by end market on a year-over-year basis (and how it compared with 1Q):

• • Heavy manufacturing (42.9% of total): +7.5% (+4.8% in 1Q)
  • Other manufacturing (33.0% of total): +11.5% (+9.7% in 1Q)
• Total manufacturing (75.9% of total): +9.2% (+6.8% in 1Q)
  • Non-residential construction (8.1% of total): +3.0% (-3.4% in 1Q)
  • Other (16.0% of total): +8.7% (+0.8% in 1Q)
• Total non-manufacturing (24.1% of total): +6.7% (-0.6% in 1Q)

Here’s how Fastenal’s 2Q daily sales performed by customer type on a year-over-year basis (and how it compared with 1Q):

• • National accounts (73.2% of total): +11.0% (+8.5% in 1Q)
  • Non-national accounts (26.8% of total): +2.6% (-3.6% in 1Q)

MDM’s 1Q25 M&A Report (store link) 

Vending & Digital Commerce

• Fastenal’s 2Q sales from FMI Technology — comprised of its FASTStock, FASTBin and FASTVend offering — totaled $928.5 million (44.1% of total sales), up 14.4% year-over-year (+9.5% in 1Q), with a gain in daily sales.
• Fastenal signed 6,458 weighted FASTBIN and FASTVend devices during 2Q, a 10.2% decline year-over-year, while the 132,174 installations it had at the end of the period were up 10.8%. The company said its goal for device signings in 2025 is between 25,000 to 26,000.
• Fastenal’s daily sales through its eBusiness — including eProcurement and eCommerce — grew 13.5% year-over-year (12.9% in 1Q) and represented 30.0% of total sales in the quarter (30.7% in 1Q).
• The company’s digital footprint — comprised of eCommerce plus FMI — represented 61.0% of total 2Q sales, unchanged from 1Q.