Fastenal on Wednesday posted a nearly 3% increase in October sales on a daily average basis.
The Minnesota-based fastener and industrial supply distributor reported nearly $693 million in sales last month. Although the total was up 7.5% compared to October 2023, the recently concluded month had one additional sales day on the calendar.
Fastener sales were off by 2% year-over-year, offset by a 5.8% increase in safety products and a 5.1% jump in other categories. The company’s sales to manufacturing end markets increased, while the non-residential construction and reseller markets saw sales decline by 4.9% and 10.1%, respectively.
Fastenal’s U.S. sales climbed by 2.3%, while revenue attributed to Canada and Mexico rose by 4.2%; other international sales were up by 9.2%.
Fastenal officials noted in its most recent earnings report that weakness in the manufacturing sector continued to impact its fastener sales, while warehouse customers bolstered its safety product numbers.
