It suggests that broader demand for industrial and construction supplies remains subdued heading into 2024's closing months.
Latest In Fastenal
The company promoted an industry veteran with 25 years of experience at Fastenal to the newly created position.
Get a complete breakdown of the distributor's September and 3Q financials, which point to a demand uptick for the industrial supply sector.
Though still soft by Fastenal’s historical standards, August was a rebound from July. Get MDM's full breakdown here.
Fastenal launched an AI-upgraded chatbot in June, and is currently building a sourcing tool — both intended to help its staff. Get the details here.
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Growth continued to slide across all geographies, product segments and customer end markets.
Watts has been with Fastenal since 1996 and has led its sales operations since May of last year.
Weak fastener sales continue to weigh on overall results, though the company indicated that customer acquisition efforts remain encouraging.
Daily sales growth is up, yet still soft, following Fastenal's April low.
It was another deceleration as daily sales declined sequentially vs. March in all three of the company’s geographies and product lines.
The distributor frequently cited adverse weather in its 1Q report, while poor demand remains the core issue as pricing has stabilized.
More than a handful of MDM’s Top Distributors were well-represented on the third annual feature.
In 2023, Fastenal achieved workplace safety results and launched a large-scale plastic recycling program.
Non-heavy manufacturing, non-residential construction and reseller end markets outperformed January.
Following his three-part article series, we had John Gunderson on the podcast for a deeper dive into Fastenal’s move from a company dependent on a nationwide branch network to one that emphasizes embedded customer service.
It lets Fastenal meet a broader scope of product needs in the aerospace and defense industry, with a focus on precision-machined parts.
The company saw a sharp deceleration in daily sales, hampered by weather impacts during the month.
Fourth quarter sales, profits and margins all edged up from a year earlier, and December daily sales topped November's. Get our in-depth breakdown here.
Year-over-year daily sales growth doubled that of October, but the company's November-December sales figures are known to be volatile.
In the last of his three-part detective series, John Gunderson examines the role that Fastenal's investments, product line expansions and digital growth have played to drive a decade-long performance increase.
