Fastenal’s daily fastener sales grow 11% in H1 2018
US fastener giant Fastenal saw sales rise 13.1% to $1,267.9 million in Q2 2018, with profit up 10.6% to $617.7 million, compared like-for-like with Q2 2017. Fastener products represented 35.4% of sales in the second quarter of 2018. Daily sales of fastener products grew 11.1%. Industrial vending and Onsite locations were growth drivers, as were […]
Fastenal commits to $11.5 million site in Mississippi
Industrial supply company Fastenal is expanding in Madison County, Mississippi with a new 129,000 sq ft distribution centre, its 15th in North America. Approximately $11.5 million will be invested by the firm, creating over 60 new jobs over three years. The distribution centre will be located off Sowell Road in the Central Mississippi Industrial Centre. […]
Fastenal yearly sales rocket to $4.39 billion
Minnesota-headquartered Fastenal saw double digit sales and pre-tax earnings growth for the year ended 31 Dec 2017. The wholesale distributor of industrial and construction supplies saw net sales increase 14.8% in the quarter (up $140.5 million) thanks to high unit sales via Fastenal’s industrial vending and Onsite locations. Fastener products represented 35% of sales in […]
Hurricanes disrupt Fastenal’s bottom line
US fastener giant Fastenal saw net sales increase $119.7m, or 11.8%, in Q3 2017 (compared with Q3 2016). With one less selling day in Q3 2017, daily sales increased 13.6% compared with Q3 2016. Thanks to the March acquisition of Mansco, daily sales growth rose 1.3 percentage points. Adjusting for that, organic daily sales increased 12.3% in Q3 […]
‘Q2 felt more like Fastenal’ says fastener distributor boss
Net sales have risen for Fastenal, which has now published its latest financials, covering the first half of 2017 and Q2. Q2 net sales were up 10.6% to $1,121.5m, with profit up 11.3% to $558.5m. First half 2017 net sales reached 2,169.2m, up 8.4% , while profit rose 8.4% to 1,076.5. Higher unit sales drove […]
Fastenal’s fastener sales grow 6.7%
Fastenal’s May results revealed a rise in net sales of 14.9% to $383 million from $334 million. North America’s largest fastener distributor saw fastener sales grow 6.7% – or 3.1% excluding the acquisition of Mansco. The Mansco acquisition saw Fastenal add 118 stores in April 2017. The total store count now stands at 2,484 – down from last […]
Fastener sales return to growth for Fastenal
Growing demand has increased sales for Fastenal in Q1 2017, up 6.2% while fastener sales returned to growth. Non-fastener sales grew too, at 9.4% and peaking in March with double-digits growth. The distribution giant saw pre‐tax earnings grew at their fastest pace since Q2 2015 (5.5%) during the period. The quarter also saw it close […]
US fastener giant Fastenal acquires Mansco
Fastenal, one of the largest fastener distributors in North America, is to acquire certain assets of industrial and fastener supply distributor Mansco (Manufacturer’s Supply Company). Headquartered in Hudsonville, Michigan and with facilities in Madison, Alabama and McAllen, Texas, Mansco generated approximately $50 million revenue in 2016. The company is profitable and has been run by President and […]