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Fastenal reported its May 2018 sales results on Wednesday, 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 May sales of $431.4 million, up 12.5 percent YoY, with daily sales up by that same amount. That follows April sales of $409.4 million and daily sales growth of 13.4 percent. May was Fastenal's 12th 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 12.5              

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, May daily sales growth was 10.3 percent in the U.S., compared to 9.5 percent a year earlier. Overall North America daily sales grew 11.8 percent in May.
  • By end market, daily sales growth to Manufacturing customers was 11.9 percent in May, while sales to Non-Residential Construction customers grew 15.9 percent. Those figures compare with April growth of 14.4 and 13.1 percent, respectively, and May 2017 growth of 10.3 and 6.1 percent.
  • By product line, Fastenal's May daily sales of Fasteners grew 9.1 percent, while sales of all Other products grew 15.0 percent. Those figures compare with April growth of 10.7 and 15.7 percent, respectively, and May 2017 growth of 6.0 and 10.7 percent.

By Fastenal customer/channel type in May:

  • Daily sales growth in national accounts grew 18.0 percent, compared to 19.0 percent in April and 12.0 percent a year earlier
  • Daily sales growth in non-national accounts grew 7.0 percent, compared to 8.0 percent in April and 6.0 percent a year earlier
  • The percentage of Top 100 national accounts growing was 78.0 percent, compared to 82.0 April and 67.0 percent a year earlier
  • The percent of public branches growing was 65.5 percent, compared to 66.4 percent in April and 61.4 percent a year earlier

Fastenal ended May with a total company headcount of 20,796, down 143 from April and up 4.0 percent YoY. Fastenal's total company headcount has increased by 231, or 4.0 percent, year-to-date.

  • Total selling personnel ended May with a headcount of 13,687, 34 from April and up 4.4 percent YoY
  • Total non-selling personnel ended May with a headcount of 4,410, up 96 from April and up 8.8 percent YoY

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

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