Fastenal Company (Nasdaq: FAST), Winona, Minn., a distributor of industrial and construction supplies, announced its sales for the first quarter of 2023 ended March 31, 2023, were $1.86 billion, up 9.1% from the prior-year period.
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Profit for the quarter was $295.1 million, up 9.5% from the prior-year period.
Fasteners sales were up 7%, safety supplies up 5.7%, and other products were up 12.4% in the quarter.
Manufacturing end-market sales were up 14.4%, nonresidential construction sales were down 2.4%, and other markets were down 4.4%.
National accounts sales were up 13.6%, and non-national accounts were up 3.4%.
In the first quarter, Fastenal signed 89 new onsite locations, with the company’s total up 16.3% from a year ago.
FMI Technology (scanned stocking, bins and vending) sales were up 21.3% in the quarter.
