MDM reported on 40 mergers and acquisitions among industrial distributors and manufacturers in August, the most since April.
Latest In Fastenal
Fastenal has invested more than $300,000 in equipment and infrastructure to bale and consolidate used PE film for recycling by Trex.
The company reported its July sales figures, which showed net and daily sales were up 3.7% compared with the same period in 2022.
Total year-over-year sales growth of 5.9% was a sharp slowdown compared to 1Q, as daily sales slowed in each month during the quarter.
It was the distributor's weakest daily sales growth month since June 2021.
The company's year-over-year daily sales growth accelerated after several months of decline, powered by sales to manufacturing customers.
The distributor said pricing's impact on 1Q sales was roughly half what it was in 2022's third quarter.
Noelle J. Oas will oversee benefits, insurance, payroll, diversity and compliance, and the Fastenal School of Business.
It was a deceleration from January's 11.2% growth, but another solid month nonetheless.
This category can only be viewed by members. To view this category, sign up by purchasing MDM Premium Subscription (monthly) or MDM Premium Subscription (annual).
Fastenal bounced back after a December that saw slower sales growth.
More than a handful of companies on MDM's 2022 Top Distributors list garnered the reputation-based honor from Fortune.
Though solid, sales and profit growth were considerably smaller than the previous several quarters.
The report includes information on the Winona, Minnesota-based distributor's continued efforts to improve workplace safety ratings.
Fastenal's daily sales growth this past month was slower than October but still outpaced Baird's projected output.
Fastenal’s eCommerce sales represent 17.4% of total company year-to-date sales, the company announced.
Despite waning growth in non-residential construction markets, total daily sales growth essentially matched September’s.
This category can only be viewed by members. To view this category, sign up by purchasing MDM Premium Subscription (monthly) or MDM Premium Subscription (annual).
It was another quarter of double-digit sales and profit gains for the industrial supplies distributor, which saw softening demand and tougher year-over-year comparables.
This category can only be viewed by members. To view this category, sign up by purchasing MDM Premium Subscription (monthly) or MDM Premium Subscription (annual).
