Fastenal’s April sales increased by less than 1% on a daily average basis compared to the same month last year, the Minnesota-based distributor announced Monday.
The company’s overall sales of $649.2 million during the month were up nearly 11% over the $586.2 million total from last April, but the latest number benefited from two additional business days in April of ‘24. The average sales of $25.9 million per day was up by 0.7% year-over-year.
In addition, the company’s daily average U.S. sales were flat; its company-wide number was helped by a nearly 6% increase in Canada and Mexico. Sales to the non-residential construction and reseller segments were down last month, while manufacturing markets reported sales increases.
Sales of the company’s fasteners declined by 2.2% last month on a daily basis, while safety supplies rose by 5.1%; other products saw a 1.2% increase. Daily sales in Fastenal’s “eProcurement” operations climbed by 26% in April, although that was down from a 46% increase in the same month last spring.
The company reported in early April that its first-quarter sales were up nearly 2% compared to the first quarter of 2023, but its earnings nonetheless fell short of expectations.
Fastenal is the no. 5 distributor on ID’s latest Big 50 list.
