Fastenal Sales Rise 8.8% in 1Q - Modern Distribution Management

Log In

Fastenal Sales Rise 8.8% in 1Q

Fastenal vending machines and employee count grow, number of stores declines.
Author
Date

The Fastenal Company, Winona, MN, (Nasdaq: FAST) reported sales for the first quarter of $953.3 million, up 8.8 percent from the first quarter a year ago. Net earnings were $127.6 million, up 14 percent from the same period in 2014.

The number of stores open in the first quarter was down 2.2 percent year-over-year to 2,624. FAST Solutions machines were up 15.2 percent to 48,545 vending machines. Employee count was up 8 percent year-over-year to 19,218.

Sales growth in the first quarter was primarily due to higher unit sales. Growth was impacted by slight inflationary price changes in non-fastener products and some price deflation in fastener products, with the result being a slight drag on growth, according to the earnings news release.

Daily sales for the first quarter grew 8.8 percent from the same period in 2013.

The company also reported sales for March of $341.7 million, a 10.6 percent increase over the same period a year ago. Daily sales increased 5.6 percent to an average of $15.5 million.

During the month, sales to manufacturing customers grew 3.9 percent, while sales to nonresidential construction customers grew 2.7 percent.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.