Fastenal Reports February Sales

The company said sales were hurt by the increasing value of the U.S. dollar, investment drop in oil and gas, and harsh February weather.

Id 5137 Fastenal 2

​Fastenal, No. 12 on Industrial Distribution's 2014 Big 50 List, reported its earnings for February on Wednesday.

The company had sales of $298.2 million during the month, up 8.6 percent year-over-year. Daily sales increased the same amount to $14.9 million.

Sales to both manufacturing customers and non-residential construction customers grew 6.4 percent.

Store count remained the same at 2,637, which is 53 more than at the end of February 2014. Employee headcount increased by 6.6 percent year-over-year, or 1,181.

"Our February 2015 sales were impacted by several factors," the company stated. "The increasing value of the U.S. dollar lowered our daily sales growth by 1.0 percent, this was primarily related to Canada. The sharp drop of investment in the oil and gas industry lowered our daily sales by approximately 2.5 percent. Finally, harsh weather lowered our February 2015 and 2014 sales by approximately 2.0 percent in each year."