November Marks Another Strong Month for Fastenal Sales Growth

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Fastenal reported its November sales results on Dec. 6, with the results showing another solid month of strong sales growth across the board as the distributor's core product demand and product mix continue to match or exceed their pre-pandemic levels.

The Winona, MN-based company —  No. 4 on Industrial Distribution's 2021 Big 50 List — posted total November sales of $524.2 million, up 18.9 percent year-over-year and up 1.4 percent from October. Fastenal's November daily sales grew 13.2 percent year-over-year as November had one additional selling day compared to a year earlier, following October's 14.1 percent growth.

By product line in November:

  • Daily sales of fasteners grew 23.7 percent year-over-year, outpacing October's growth of 23.2 percent and a complete reserval of a 1.7 percent decline a year earlier
  • Daily sales of safety products grew 0.4 percent year-over-year, down from 2.9 percent growth in October and a fraction of the 35.9 percent surge seen a year earlier
  • Daily sales of all other products grew 11.7 percent year-over-year, trailing October's 12.3 percent and dwarfing the 1.7 percent growth of a year earlier.

By end market in November:

  • Daily sales to manufacturing customers grew 22.6 percent year-over-year, trailing October's 22.9 percent and dwarfing the 1.4 percent growth of a year earlier
  • Daily sales to non-residential construction customers grew 16.6 percent year-over-year, outpacing October's 14.2 percent and a complete reversal of a 10.2 percent decline from a year earlier

By geography in November

  • Daily sales in the United States grew 12.8 percent year-over-year, nearly matching October's 13.0 percent (+5.4% a year earlier)
  • Daily sales in Canada/Mexico grew 14.1 percent year-over-year, trailing October's 20.0 percent (+9.7% a year earlier)
  • Daily sales to the rest of international grew 17.9 percent year-over-year, trailing October's 21.9 percent (+28.7% a year earlier)

By customer/channel type in November

  • Daily sales in national accounts grew 19.0 percent, outpacing October's 18.0 percent (+8.0% a year earlier)
  • Daily sales in non-national accounts grew 6.0 percent, trailing October's 8.0 percent (+6.0% a year earlier)
  • 78.0 percent of Fastenal's top 100 national accounts grew in November, outpacing October's 75.0 percent (+36.0% a year earlier)
  • 71.3 percent of Fastenal's public branches grew in November, trailing October's 72.3 percent (+52% a year earlier)

Headcount

  • Fastenal ended November with a total headcount of 20,523, down 166 from October and up 0.8 percent year-over-year
  • Fastenal ended November with 13,437 total selling personnel, up 48 percent from October and up 1.9 percent year-over-year

Fastenal will report its December and 2021 fourth quarter and full year financial results on Jan. 19, 2022.

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