Fastenal’s Sales Accelerate in May

After distributors of industrial and construction supplies announced their sales results in May, Fastenal’s stock price soon increased. Compared to the sales results in March and April this year, the daily sales in May continued to improve, which increased 13.5% to USD14.93 million over May last year (as well as increased 10% and 11.6% compared to April and March). The net sales in May grew 8.3% to USD313.5 million.

 

Daily sales of Fastenal to manufacturing customers representing 50% of its total revenue grew 12.9% (only 5.8% last year) while daily sales to non-resident construction customers grew 8.4% (only 0.7% last year). The total average daily sales growth rate in the first quarter was 8.7%.

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