In part two of his three-part detective series, John Gunderson examines the role Fastenal's sales specialization and realignment programs played to drive a decade-long performance increase.
Latest In Fastenal
In the first of a 3-part series, John Gunderson goes detective-mode to examine Fastenal's transformation from a branch count-heavy distributor to one prioritizing integrated supply and self-service.
The growth was below Fastenal’s benchmark 3.1% rate that the company provided in its 3Q earnings presentation.
The renewed partnership expands Fastenal's NHL presence to include Global Series European games and primetime international broadcasts.
The company appointed Anthony P. Broersma as the Executive Vice President-Operations, effective on October 11.
For the third quarter, the company reported more than $1.84 billion in net sales, a 2.4% increase over the same period in 2022.
Fastenal says the trial reflects its ongoing commitment to test and, when feasible, operationalize battery electric technology in its fleet.
Fastenal reported its August 2023 sales information, which showed net and daily sales were up 3.6% compared with the same period in 2022.
MDM reported on 40 mergers and acquisitions among industrial distributors and manufacturers in August, the most since April.
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.
A new report states a majority of economists now think a would-be recession is coming later than expected. It suggests a softer economic landing as distributors continue to report strong financials.
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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.
