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Fastenal reported its April 2018 sales results on Friday, showing that the Winona, MN-based distributor's considerable year-over-year (YoY) growth continued last month across the board — especially with its national account customers.

Fastenal reported April sales of $409.4 million, up 19.1 percent YoY, with daily sales up 13.4 percent. That follows March sales of $418.6 million and daily growth of 13.1 percent. April was Fastenal's 11th straight month of double-digit daily sales growth — with growth of at least 12.0 percent in each month. For perspective, Fastenal didn't have 12.0 percent growth in any month between February 2015 and May 2017 during the industrial economy downturn.

Here's how Fastenal's daily year-over-year sales growth has fared in each month since the start of 2015:

 

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

2018 12.0 14.8 13.1 13.4                

2017

3.8

6.1

8.4

8.9

9.7

13.0

12.9

12.8

15.3

13.8

15.4

14.7

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

  • By geography, April daily sales growth was 10.8 percent in the U.S., compared to 9.0 percent a year earlier. Overall North America daily sales grew 12.5 percent in April.
  • By end market, daily sales growth to Manufacturing customers was 14.4 percent in April, while sales to Non-Residential Construction customers grew 13.1 percent. Those figures compare with March growth of 14.0 and 10.9 percent, respectively, and April 2017 growth of 9.3 and 5.8 percent.
  • By product line, Fastenal's April daily sales of Fasteners grew 10.7 percent, while sales of all Other products grew 15.6 percent. Those figures compare with March growth of 12.4 and 14.1 percent, respectively, and April 2017 growth of 6.0 and 10.7 percent.

By Fastenal customer/channel type in April:

  • Daily sales growth in national accounts grew 19.0 percent, compared to 18.0 percent in March and 11.0 percent a year earlier
  • Daily sales growth in non-national accounts grew 8.0 percent, compared to 7.0 percent in March and 6.0 percent a year earlier
  • The percentage of Top 100 national accounts growing was 82.0 percent, compared to 79.0 percent in March and 65.0 percent a year earlier
  • The percent of public branches growing was 66.4 percent, compared to 66.6 percent in March and 60.8 percent a year earlier

Fastenal ended April with a total company headcount of 20,939, down 63 from March and up 5.3 percent YoY. Fastenal's total company headcount has increased by 374, or 5.3 percent, year-to-date.

  • Total selling personnel ended April with a headcount of 13,659 up, 64 from March and up 5.8 percent YoY
  • Total non-selling personnel ended April with a headcount of 4,404, essentially identical to March and up 8.2 percent YoY

See our recap of Fastenal's Q1 2018 fiscal performance here

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