Fastenal reports 23.5% Y/Y growth in May sales
Fastenal (NASDAQ:FAST) reported a 23.5% Y/Y increase in May sales, driven by a solid growth in the North American region.
As per the firm's latest monthly report, net sales totaled $589.2M in May, with daily sales up 17.6% Y/Y to $28.05M.
By geography, daily sales growth in the US and Canada/Mexico were 19.1% and 14.7%, respectively. Daily sales in rest of the world contracted by 5.8%.
By end market, daily sales in the manufacturing sector grew 22.4%, while non-residential construction daily sales were up 10.7%.
Daily sales growth by product line: Fasteners (+20%); Safety (+15.6%); and Others (+16.1%)