Though solid, sales and profit growth were considerably smaller than the previous several quarters.
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The report includes information on the Winona, Minnesota-based distributor's continued efforts to improve workplace safety ratings.
Fastenal's daily sales growth this past month was slower than October but still outpaced Baird's projected output.
Fastenal’s eCommerce sales represent 17.4% of total company year-to-date sales, the company announced.
Despite waning growth in non-residential construction markets, total daily sales growth essentially matched September’s.
Mike Hockett analyzes the noticeably different levels of optimism in the commentary given by industrial distributors Fastenal and Motion in their third-quarter earnings calls.
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It was another quarter of double-digit sales and profit gains for the industrial supplies distributor, which saw softening demand and tougher year-over-year comparables.
Continued strong sales growth means the third quarter will likely be another windfall fiscal period for most industrial distributors.
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A new report calculates that U.S.-based industrial distributors could stand to benefit considerably over the next decade from increased MRO demand driven by the domestication of manufacturing production and foreign investment.
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A month-to-month acceleration in daily sales bodes well for fellow industrial distributors large and small.
Fastenal, MSC Industrial Supply, MRC Global and more have voiced considerable optimism despite numerous economic red flags.
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Mike Marks and Tom Gale explore the impact of recent landmark acquisitions and how the mission of strategic deals runs counter to that of private equity.
The company said it saw benefits of carryover pricing impacts from 1Q, alongside continued strong underlying demand from industrial and construction customers.
Despite impressive first-quarter sales and profit numbers for major distributors, stakeholders may still notice a hint of caution in the air as the calendar turns to summer. Download MDM's May 2022 Premium Monthly issue to read more.
While the pace of daily sales decelerated, overall sales remained robust as the company made further strides in hiring.
James Dorn details how Fastenal’s digital transformation story has kept it ahead of the curve of customer demands.
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For the month, the distributor reported net sales of $570.76 million, up from more than $497 million in April 2021.
At the recent Fastenal Expo, we chatted with Senior Executive Vice President Terry Owen about the company’s supply chain capabilities, which allow it to handle whatever comes next.
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Amid digital expansion, many distributors grew apart from customers during the pandemic. Fastenal did the opposite. In a new MDM Podcast, Mike Hockett and Dan Florness discuss how the company continues to grow closer to its customers.
MDM Executive Editor Mike Hockett recaps what he saw and learned at Fastenal Expo 2022, the distributor's first in-person company showcase in three years.
