2/4/2015 5:13:00 PM
NEWS BRIEFS
Fastenal OEM Sales Top 10% Growth
Fastenal Co. reported January sales increased 6.9% to $313.5 million, with daily sales up 12% to $14.9 million.
Daily sales to manufacturing customers grew 10.5% during the month, while daily sales to non-residential construction customers gained 9.8%.
The company’s workforce increased 5.4% to 18,615 personnel, driven by a 6.2% increased in non-store selling personnel to 1,321; a 6.2% increase in distribution personnel to 2,213; and a 6.3% gain in administrative personnel to 966.
During the first month of 2015 Fastenal opened no new stores.
Fastenal sales growth doubled in 2014, primarily from volume. Net sales rose 12.2% to $3.7 billion, impacted by slight inflationary price changes in non-fastener products and some price deflation in fastener products. Net earnings grew 10.1% to $494.1 million and EPS gained 10.6% to $1.67.
Those results included steady gains in the company’s fastener products. Fastenal reported 6.9% growth in fasteners during 2014, including 1.6% growth in the first quarter, 5.5% growth in Q2, 9.9% growth in Q3, and 11.4% growth in the final quarter of the year. The company achieved 1.6% growth in fasteners in 2013 and 7.8% fastener growth in 2012.
Fasteners totaled 39.2% of 2014 sales for Fastenal, down from 40.6% the previous year.
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