Fastenal began the new year with a nearly 2% increase in its January sales, the Minnesota-based distributor reported Thursday.
The company posted $652 million in sales last month, up 1.9% compared to the first month of 2024 despite larger impacts from both weather and currency fluctuations this year.
Fastenal reported a 1.7% year-over-year decline in January fastener sales on a daily average basis, which was offset by increases in safety supplies and other products. Sales to its manufacturing customers rose, while the non-residential market saw sales slip by 3.7%.
The U.S. market, which accounted for 83% of the company’s monthly sales, saw a 1.7% increase in sales, while sales in Canada and Mexico combined were up by nearly 6%. All other markets were down by 8.8%.
Fastenal — no. 4 on ID’s 2024 Big 50 — reported $1.82 billion in sales during its last fiscal quarter and $3.4 billion for all of 2024.
