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.
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Fastenal's 1Q growth considerably outpaced that of a year earlier and the last "pre-COVID" quarter of 1Q 2020. Digital is the biggest driver. We examine the numbers here.
The distributor says 2022 first-quarter net sales were $1,704.1 million, up about $287 million over the same period in 2021.
The company reported nearly $531 million in net sales last month, compared to $437.7 million in February 2021.
Year-end reports of publicly traded distributors support Q4 Baird-MDM Quarterly Industrial Distribution Survey results. Public company commentary remains optimistic for strong year.
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The Winona, Minnesota-based distributor reported January 2022 sales of more than $540 million.
Distributors are scrambling to reinforce bench strength as market conditions look good. Here’s what Fastenal, Ferguson, Avnet and others are sharing with MDM on how they’re adapting.
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The ups and downs of COVID-19 made distributors re-think how they use technology to connect with customers; that’s likely to accelerate in 2022.
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The Winona, Minnesota-based distributor topped $6 billion in net sales for the year, including more than $1.5 billion in 4Q 2021.
Winona, Minnesota-based Fastenal Co. reported last-month sales of more than $524 million, an 18.9% increase over the same month in 2020.
Winona, Minnesota-based Fastenal Co. reported October sales of more than $531 million, an 8.9% increase over the same month in 2020.
CEOs from leading distributors Grainger, Fastenal, Applied, MSC and Motion reveal secrets to their success during a challenging third quarter.
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The industrial safety distributor saw a 10% net sales increase in the third quarter of 2021 versus the same period a year ago.
The seasonally adjusted Fastener Distributor Index (FDI) for September was 54.2, down from 55.8 in June, due to recent challenges.
For August, Fastenal reported daily sales of $24.1 million, which was a 9% increase versus a year ago, while fastener sales increased 18.9%.
Fastenal’s reported daily sales for the month were up 9.7% versus a year as its sales mix continued at its normal levels.
The distributor’s revenue was flat in 2Q as safety sales dipped, but it beat analysts’ EPS expectations behind solid construction activity and increased digital sales.
"The absence of pandemic-related impacts produced significant shifts" in Fastenal's product mix, meaning fastener sales were up and safety sales were down.
Distributor focused on e-commerce growth, new bin technology and converting pandemic-purchasers into long-term customers.
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Fastenal’s reported daily sales for the month also were down 3.2% versus a year ago as safety sales dipped 44.1% in May.
