Rest of World sales growth declined sequentially from up 9% to up 1.5%. Geographically, sales in the United States grew 16.5% (versus 7.2% a year ago), while Canada/Mexico grew 17.5% (versus 18.7%). In July 2022, safety categories improved 13.6%. Safety products grew 11.7% in August against a 3.8% decline in August 2021. The monthly sales data reflects that Fasteners sales trend has remained stable. Fasteners witnessed 19.8% growth in sales last month versus 18.9% registered in the year-ago period. The average daily sales growth rate in non-residential decelerated sequentially in August, while that of manufacturing end markets improved.įastenal derives sales from Fasteners, Safety and other product lines. Non-residential construction grew 5.8% versus a 10.1% increase reported in August 2021. End-Market Perspective, Product Lines & Customersįrom an end-market perspective, manufacturing sales improved 23.5% for the month, reflecting a rise from 19.7% growth a year ago. Shares of Fastenal gained 1.6% during the trading session on Sep 7, 2022. Daily sales on a seasonal basis were up 1.3% compared with the company’s benchmark (historical five-year average) of 3.1% growth, which is 180 basis points (bps) below the company’s historical seasonal benchmark.Īlthough issues like price inflation, supply-chain challenges and shortage of labor are negatively impacting its growth rate, industrial markets such as capital goods and commodities continue to gain. In July 2022, daily sales registered 18.1% growth, whereas the same had witnessed 9% growth in August 2021.ĭaily sales, on a constant currency basis, were up 16.6% last month compared with 18.7% in July 2022. Fastenal Company FAST recently released its August sales report, wherein average daily sales grew 16.1% to $28 million, moderating sequentially.
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