Heavy manufacturing remains Fastenal's No. 1 growth market in August
Fastenal reported a year-over-year decline of 2.3% in net sales for August––$6.52 million versus $6.68 million.
U.S. sales grew 1.4% compared to 3.2% last year, but the country remains its largest geographic market, representing 83.7% of Fastenal sales. Canada/Mexico grew 6.2% in August versus 9.0% at the same time last year, and combined the countries represent 13.4% of company sales. The Rest of World category grew 6.6% in August compared to negative 4.7% last year––geographics outside of North American represented 2.9% of Fastenal sales for the month.
Heavy Manufacturing grew 2.3% versus 8.6% in August 2023––it is the Fastenal's largest end market at 43.2% of sales. Safety was the company's product line with best daily sales growth at 5.8%, whil fasteners declined 2.2% in August.
Full reported financial details are available here.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
