Fastenal 1Q Earnings Up 20.3% - Modern Distribution Management

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Fastenal 1Q Earnings Up 20.3%

The distributor says 2022 first-quarter net sales were $1,704.1 million, up about $287 million over the same period in 2021.
Fastenal 2022 1q sales

Fastenal Co. (Nasdaq: FAST) of Winona, Minnesota, says its 2022 first-quarter sales increased 20.3% over the first quarter of 2021.

The company reported $1,704.1 million in net sales for 2022 1Q, compared to $1,417 million for the previous-year quarter. Daily sales also were up 18.4% compared to last year, from $22.5 million to $26.6 million.

Net sales for March 2022 were $632.6 million, a 19.1% jump over the same month in 2021.

For daily sales growth by geography, U.S. sales rose 19.2% during the month, while sales grew 21% in Canada and Mexico.

For daily sales growth by end market, manufacturing in March rose 25.2%, while nonresidential construction rose 11.1%.

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