Fastenal Co. reported fastener daily sales fell 6.9% to $431.05 million (30.5% of total sales) in the third quarter of 2020, including a 6.1% decline in September.

“The daily sales decline of fasteners reflects the continued softness of the manufacturing and construction markets, but is improved on the 16.4% daily sales decline of fasteners experienced in the second quarter of 2020 compared to the second quarter of 2019,” the company stated.

Overall Q3 sales increased 2.5% to $1.41 billion, with gross profit down 1.6% to $640.6 million and net earnings rising 3.7% to $221.5 million.  Safety product sales grew 34.4% to $336.4 million (23.8% of total sales) during the quarter.

During the first nine months of 2020, Fastenal sold approximately $1.27 billion worth of fasteners, down 8.5% from the approximately $1.39 billion in fastener sales during the first nine months of 2019.

Overall nine-month sales gained 5.7% to $4.29 billion, with operating income up 7.2% to $877.4 million and net earnings improving 8.3% to $663 million.

Fastenal signed 12,961 industrial vending devices in the first nine months of 2020, including 4,680 in Q3.

Fastenal reported fastener daily sales declined 16.4% year over year in the second quarter of 2020 to $392.3 million (26% of total sales) as sales of safety equipment (PPE) surged 116.3% during the quarter.  Fastener sales declined 2.6% to $449.7 million (32.9% of total sales) during the first quarter of 2020.  Web: Fastenal.com