PPE Influences Fastenal Sales

Fastenal Company had net sales of $1,507.7 million for the second quarter of 2021, a decrease of 0.1 per cent over net sales of $1,509 million in the second quarter of 2020. The quarter was influenced by increased demand for personal protective equipment (PPE) and sanitation products needed to address COVID-19, although lower than demand for these items in the 2020 quarter. Fastener daily sales grew 28.4 per cent year-over-year and represented 33.6 per cent of net sales. Safety product daily sales declined 38.6 per cent and represented 21 per cent of net sales. Other products daily sales grew 12.9 per cent and represented 45.4 per cent of net sales. Gross profit, as a percentage of net sales, increased 200 basis points to 46.5 per cent in the quarter from 44.5 per cent in the year-ago period. Operating income, as a percentage of net sales, increased to 21.1 per cent from 20.9 per cent in the second quarter of 2020. Net earnings were $239.7 million, an increase of 0.4 per cent compared to the second quarter of 2020.