top of page
Orgill_OBE-SUM24-Key Media-Digital Ad970x90 (May web)

Apr 14, 2023

Fastenal Company Sales Increase

Fastenal Company had net sales of $1,859 million for the first quarter of 2023, an increase of 9.1 per cent over net sales of $1,704 million in the first quarter of 2022. Higher unit sales contributed to the increase. Gross profit, as a percentage of net sales, declined to 45.7per cent in the quarter from 46.6 per cent in the prior-year period. The change in gross profit percentage reflected changes in customer and product mix and lower product margins. Operating income, as a percentage of net sales, increased to 21.2 per cent from 21 per cent in the prior year. Net earnings were $295.1 million, an increase of 9.5 per cent compared to the first quarter of 2022.

Sign up for our Daily News Alerts to receive relevant industry news, articles, and previews for our next issue of Home Improvement Retailing. Delivered directly to your inbox. Subscribe here.

bottom of page