Fastenal reported a strong February that saw the company's best daily sales growth since October 2022 despite a downstep for its top national accounts.
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The topline figure snapped three straight months of decline, though nonresidential spending saw a sharp decline.
Economists had expected December's starts to be flat vs. November.
That’s despite a small monthly downtick in the portion of in-market locations reporting growth, meaning Fastenal got relatively more out of its biggest customers. Get our full breakdown of the January numbers here.
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It was a new annual revenue high-water mark, as pricing actions and improved sales effectiveness carried the company through lasting "sluggish" market conditions.
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Dan Florness has been with the company since 1996 and its CEO for the past nine-plus years.
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The distributor posted its fifth straight month of double-digit daily sales gains despite a soft demand backdrop and topped analysts’ expectations, powered by acceleration in heavy manufacturing.
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It was the fourth straight month that Fastenal saw its daily sales rate grow by double digits year-over-year, powered by pricing actions in Q2-Q3 of this year.
It's the first acquisition for the company in 2025 after five bolt-ons in 2024.
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Decks & Docks adds roofing and siding materials to offering, while SWI will operate under the Decks & Docks Company banner.
