Fastenal's Q1 sales up 3.7 percent
Fastenal Company reported first-quarter sales of $1.41 billion, a 3.7 percent increase from $1.36 billion in last year's first quarter.
Net income of $210 million compared to $202 million in the same period last year.
The growth was largely due to higher unit sales of fastener, safety, and janitorial products.
Daily sales of fastener products grew 4.0 percent over the first quarter of 2020, and represented 32.5 percent of net sales in the first quarter of 2021; fasteners represented 32.9 percent of net sales in the first quarter of 2020.
Daily sales of safety products grew 14.7 percent over the first quarter of 2020 and represented 21.5 percent of net sales in the first quarter of 2021; safety products represented 19.8 percent of net sales in the first quarter of 2020.
Daily sales of other products grew 2.5 percent over the first quarter of 2020 and represented 46.0 percent of net sales in the first quarter of 2021; other products represented 47.3 percent of net sales in the first quarter of 2020.
Daily sales through e-commerce grew 35.5 percent in the first quarter of 2021 over the first quarter of 2020. Revenues attributable to e-commerce represented 12.2 percent of total revenues in the period.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
