Fastenal’s Sales Rebound in 3Q - Modern Distribution Management

Fastenal’s Sales Rebound in 3Q

The industrial safety distributor saw a 10% net sales increase in the third quarter of 2021 versus the same period a year ago.
Fastenal

Fastenal Co. (Nasdaq: FAST), Winona, Minnesota, reported sales of $1.6 billion for the third quarter, a 10% increase from the same period the previous year. Profit of $243.5 million marked a 9% increase over the same period in 2020.

Sales for the first nine months were $4.5 billion, a 4.4% increase over the same period of 2020, while profit of $693.8 million was up 4.6% from 2020.

Daily sales to government and warehousing customers declined 40.5% and 13.6%, respectively, while sales of safety products and janitorial supplies declined 2.9% and 15.4%, respectively, in the third quarter of 2021 when compared with 2020.

Fastener daily sales grew 20.2% over the third quarter of 2020 and represented 33.4% of net sales in the third quarter of 2021. Fasteners represented 30.5% and 33.7% of net sales in the third quarter of 2020 and the third quarter of 2019, respectively.

Improvement from the third quarter of 2020 reflected higher manufacturing and construction demand, Fastenal said.

Safety product daily sales declined 2.9% from the third quarter of 2020 and represented 21.1% of net sales in the third quarter of 2021. Safety products represented 23.8% and 18.2% of net sales in the third quarter of 2020 and the third quarter of 2019, respectively.

The decline from the third quarter of 2020 reflected the absence of surge-related PPE sales, only partly offset by improvements in manufacturing and construction demand, Fastenal said.

Other products daily sales grew 9.2% over the third quarter of 2020 and represented 45.5% of net sales in the third quarter of 2021. Other products represented 45.7% and 48.1% of net sales in the third quarter of 2020 and the third quarter of 2019, respectively.

Improvement from 2020 reflected higher manufacturing and construction demand, only partly offset by the absence of surge-related sanitation sales, the company said.

Sales in September were $531.4 million, an 11.1% increase over the same period in 2020. For the month, Fastenal reported daily sales of $25.3 million, also up 11.1% versus the same period a year ago.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!