The 2020 Mid-Year Economic Update_long

Fastenal Sales Up 20% in 2Q

Year to date, Fastenal's sales have increased 13.2 percent.
Fastenal

The Fastenal Company (Nasdaq: FAST), Winona, MN, reported second-quarter sales of $571.2 million, an increase of 20.3 percent over the same period a year ago. Profit improved 58.9 percent to $69.2 million. Fastenal was No. 9 on the list of top 40 industrial distributors.

We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.

\"\"

For the first six months of 2010, sales were $1.09 billion, up 13.2 percent over second quarter 2009. Profit increased 35.7 percent to $125.2 million.

During the first six months of 2010, Fastenal opened 45 new stores (Fastenal opened 42 new stores in the same period of 2009). The 45 new stores represent an increase of 1.9 percent since Dec. 31, 2009, when the company had 2,369 stores. As of June 30, Fastenal had 12,248 employees, an increase of 1.7 percent from year-end.

Daily sales to customer in manufacturing – historically about 50 percent of sales – grew 15.7 percent and 29.8 percent during the first and second quarters of 2010, respectively. In 2009, daily sales to this sector contracted 18.8 percent, primarily in the industrial production business.

Non-residential construction customers – historically 20 percent to 25 percent of business – daily sales contracted 14.7 percent in the first quarter of 2010 and grew 0.5 percent in the second quarter of 2010. Total sales contraction for 2009 was 19.4%.

About the Author
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.

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.