Fastenal November Sales See Best Growth In 3 Years

Fresh off celebrating its 50th anniversary by opening a company museum last week, Fastenal posted its November 2017 sales information on Wednesday, showing that its sales growth surge continued last month.

Id 33427 Fastenal Ereccx

Fastenal — fresh off celebrating its 50th anniversary by opening a company museum last week — posted its November 2017 sales information on Wednesday, showing that its sales growth surge continued last month.

Fastenal reported November sales of $365.5 million — up 15.4 percent year-over-year (YoY), with daily sales up by that same amount. It was the company's sixth straight month with at least 12.8 percent YoY daily sales growth, and its best month since December 2014's 17.4 percent.

Here's how Fastenal's monthly daily sales year-over-year growth has fared since the start of 2014:

 

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

2017

3.8

6.1

8.4

8.9

9.7

13.0

12.9

12.8

15.3

13.8

15.4

 

2016

3.3

2.6

0.0

3.8

1.1

0.0

2.1

0.3

2.8

3.9

1.2

3.2

2015

12.0

8.6

5.6

6.1

5.3

3.7

3.2

1.6

-0.3

-0.8

-1.1

-3.8

2014

6.7

7.7

11.6

10.0

13.5

12.7

14.7

15.0

12.9

14.6

15.3

17.4

Other notable figures:

  • November daily sales to manufacturing customers grew 17.2 percent YoY, up from 15.7 percent in September. The company's spring acquisition of Manufacturers Supply Company (Mansco) added 2.1 percentage points of growth to manufacturing.
  • November daily sales to non-residential construction customers grew 10.8 percent YoY, up from 6.0 percent in October
  • November fastener sales grew 14.1 percent YoY, up from 11.5 percent in October. The Mansco acquisition added 4.1 percentage points of growth.
  • November non-fastener sales grew 15.5 percent YoY, down from 16.7 percent in September.
  • Fastenal ended November with 2,421 branch locations, up one from October and down 127 YoY. In Q3, the company opened five branches and closed 36.
  • Fastenal ended November with a total full-time branch and onsite combined headcount of 11,666, up 66 from October and up 642 YoY. Of that headcount rise, 115 is from the Mansco acquisition. The company's full-time selling personnel (13,339) ended November up 80 from October and up 6.1 percent YoY, while Fastenal's absolute headcount of 20,593 was up 4.0 percent.

Fastenal is No. 7 on Industrial Distribution's Big 50 List.

More in Earnings