Fastenal on Tuesday reported $691.7 million in net sales in April, an increase of 6.5% compared to the same month last year.
The Minnesota distributor saw growth across all product categories and end markets — including an uptick in the sluggish non-residential construction segment. Sales in heavy manufacturing, its largest end market, rose by 4.6%, while other manufacturing sales climbed by 9.7%.
The company’s fastener sales increased by 1.5% compared to April 2024, while safety supply sales were up by nearly 10%. Other categories saw sales rise by 8.3%.
Fastenal’s monthly U.S. sales — which accounted for nearly 84% of its total — were up 7% year-over-year, while sales in Canada and Mexico were up 2.6% and other international markets were up by 10.7%.
Fastenal CEO Dan Florness said during a recent appearance on CNBC that newly imposed tariffs had prompted the company to raise prices on some of its products, particularly in its fastener portfolio, but that it also had about four months’ worth of inventory to provide flexibility amid new challenges.
Fastenal ranked no. 4 on ID’s 2024 Big 50 list.
