Industrial and construction supplies distributor Fastenal’s daily sales are slightly recovering after reaching the smallest year-over-year gain recorded since May 2021.
In its monthly sales report on June 6, Fastenal posted total May 2024 sales of about $658.7 million, up 1.5%. On a daily basis, sales were also up just 1.5%. Sales are growing, yet remain soft, following April’s low 0.7% and a two-month deceleration. In March, daily sales growth was 1.8%, 2.6% in February and 1.6% in January.
Here’s a look at how Fastenal’s year-over-year daily sales growth has fared per month since the start of 2021. Hover over the chart line for the interactive figures.
Source: Fastenal monthly sales reports
Find other key details from Fastenal’s April 2024 sales report below:
Daily Sales by Geography, Year-Over-Year:
- United States — 83.1% of sales: 1.6% (0.0% in April)
- Canada/Mexico — 13.9% of sales: +0.3% (+5.7% in April)
- Rest of World — 3.0% of sales: +4.8% (-3.2 % in April)
Daily Sales by Product Line:
- Fasteners — 30.8% of sales: -4.1% (-2.2% in April)
- Safety — 21.8% of sales: +7.8% (+5.1% in April)
- Other — 47.4% of sales: +3.0% (+1.2% in April)
Daily Sales by Customer End Market:
- Heavy manufacturing — 43.2% of sales: +1.5% (+1.9% in April)
- Other manufacturing — 32.1% of sales: +2.9% (+2.2% in April
- Non-residential construction — 8.4% of sales: -6.2% (-5.6% in April)
- Reseller — 5.3% of sales: -6.9% (-3.9% in April)
- Other — 11% of sales: +8.7% (+1.2% in April)
Daily Sales by Customer Category:
- National accounts: +6.0% in May (+4.0% in April)
- 58% of Top 100 national accounts were growing in May (61.0% in April)
- 48.8% of in-market locations were growing in April (48.9% in April)
- Non-national accounts: -5.0% (-4.0% in April)
- FMI: +6.0% (+6.0% in April)
- eProcurement: +26.0% (+26.0% in April)
Other Notes
- Fastenal ended May with a total headcount of 23,619 — up 3.2% year-over-year and slightly down compared with April 2024.
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