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.