Fastenal (Nasdaq: FAST), Winona, Minn., distributor of industrial and construction supplies, reported sales for the quarter and year ended Dec. 31, 2024.
Don’t miss any content from Distribution Strategy Group. Join our list.
Fourth-quarter sales were $1.8 billion, up 3.7% from the prior-year period. Daily sales were up 2.1%.
Full-year sales were $7.5 billion, up 2.7%. Profit was $1.1 billion.
Daily sales in the fourth quarter by product category:
- Fasteners: Down 1.4%
- Safety: Up 4.8%
- Other: Up 4%
Daily sales by end-market:
- Heavy manufacturing: Up 1.7%
- Other manufacturing: Up 5.4%
- Nonresidential construction: Down 4.1%
- Reseller: Down 11.3%
- Other end-markets: Up 7.6%
National accounts sales were up 4.2%; non-national accounts fell 1%.
Fastenal signed 56 new onsite locations in the fourth quarter of 2024 and 358 new signings for the year. Daily sales through onsite locations, excluding sales transferred from branches to new onsites, grew at a mid-single-digit rate in the fourth quarter of 2024.
Daily sales through ecommerce grew 27.6% in the fourth quarter of 2024 and represented 30.9% of total sales in the period.
Fastenal’s digital footprint in the fourth quarter of 2024 represented 62.2% of sales, an increase from 58.1% of sales in the fourth quarter of 2023.
