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Jul. 15, 2022

Construction Supply Demand Impacts Fastenal Sales

Fastenal Company had net sales of $1,778.6 million in the second quarter of 2022, an increase of 18 per cent over net sales of $1,507.7 million in the second quarter of 2021. The quarter saw continued strong, economically driven growth in underlying demand for manufacturing and construction equipment and supplies, which drove higher unit sales that contributed to the increase in net sales in the period. Fastener daily sales increased 21.2 per cent over the second quarter of 2021 and represented 34.6 per cent of net sales in the quarter compared to 33.6 per cent of net sales in the second quarter of 2021. Safety product daily sales increased 13.8 per cent and represented 20.3 per cent of net sales compared to 21 per cent. Other product daily sales increased 17 per cent and represented 45.1 per cent of net sales compared to 45.4 per cent of net sales. Overall net earnings for the quarter were $287.1 million, an increase of 19.8 per cent compared to the year-ago period.

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