Fastenal reported its January 2019 sales results on Thursday, showing a modest increase in year-over-year sales.
The company — No. 5 on Industrial Distribution’s 2019 Big 50 List — reported January sales of $462.9 million, up 3.6 percent year-over-year (YoY), with organic sales up by that same amount.
That daily sales growth was an improvement from December’s 1.0 percent growth, but follows it as the second-smallest YoY monthly growth the company has had since December 2016’s 3.2 percent. That was the company’s most recent low water mark before sales consistently hovered between the high single digits and mid double-digits throughout most of 2017 and 2018 before the current industrial recession took hold around Q2 of 2019.
Below, see Fastenal’s year-over-year monthly daily sales gains since the start of 2019:
- January 2019 - 13.3%
- February 2019 - 10.5%
- March 2019 - 12.7%
- April 2019 - 7.4%
- May 2019- 9.5%
- June 2019 - 7.0%
- July 2019 - 6.1%
- August 2019 - 6.3%
- September 2019 - 5.8%
- October 2019 - 4.3%
- November 2019 - 5.7%
- December 2019 - 1.0%
- January 2020 - 3.6%
In January 2020, Fastenal’s US daily sales grew 3.1 percent YoY in the US, 8.4 percent in Canada/Mexico and dipped 0.2 percent elsewhere. Those figures compare with December’s flat (0.0 percent) growth in the US, 5.8 percent growth in Canada/Mexico and 12.8 percent growth elsewhere.
Other notes from Fastenal’s January 2020:
Daily sales to manufacturing customers grew 4.3 percent YoY (+1.9 percent in Dec.), while sales to non-residential construction customers grew 3.2 percent (+0.2 percent in Dec.).
Daily sales of Fasteners grew 1.3 percent YoY (- 0.5 percent in Dec.), while other sales grew 4.9 percent (+2.4 percent in Dec.).
Fastenal ended January with an even 22,000 total personnel, up 0.7 percent YoY. Fastenal has 14,222 total selling personnel, up 0.3 percent YoY.
Fastenal reported its 2019 fourth quarter and full-year financial results on Jan. 17. Q4 sales of $1.28 billion were up 3.7 percent YoY, with daily sales up by that same amount. Q4 total profit of $179 million was up 5.9 percent YoY, while gross profit of $598 million increased 1.8 percent and operating profit of $239 million grew 2.4 percent. For the full year, Fastenal had total 2019 sales of $5.33 billion, up 7.4 percent over 2018. Total profit of $791 million increased 5.2 percent, gross profit was up 4.9 percent and operating profit of $1.06 billion grew 5.8 percent.
In December, Fastenal announced the launch of its Product Locator app, which allows for simple or refined product searched based on either location or part.
Fastenal's January results were posted one day after the release of Fastener Clearing House's January Fastener Distributor Index, which showed a sizable improvement after three straight months of decline into contraction territory.