Fastenal Company has released its financial results for the first quarter of 2025, with Net income improved and digital footprint sales increased.
The company’s net income in Q1 increased slightly to US$298.7 million, up from US$297.7 million in the same quarter last year. Net sales increased to US$64.3 million, or 3.4%, in Q1 2025 when compared to Q1 2024. As there was one less selling day in Q1 2025 relative to the prior year period, Fastenal Company said its net daily sales increased by 5% in Q1 2025 year-on-year.
Unit sales increased in Q1 2025, primarily driven by a rise in the number of customer sites spending US$10,000 or more per month with Fastenal. To a lesser extent, growth in average monthly sales per customer site across all spending categories also contributed. Product pricing had a minimal impact on net sales in both Q1 of 2025 and 2024, with price levels remaining relatively stable during the period.
Regarding its products, Fastenal Company has three categories: fasteners, including fasteners used in original equipment manufacturing (OEM) and maintenance, repair and operations (MRO), safety supplies and other product lines.
The fasteners segment’s daily sales rate (DSR) increased by 1.1% after seven consecutive flat or declining quarters. This was driven by easier comparisons and increased contributions from large customer signings.
However, fasteners only accounted for 30.3% of the company’s total sales in Q1 2025, down from 31.5% in 2024.
In a previous financial announcement, the company said it would continue to grow its digital footprint this year. Digital footprint sales increased to US$1208 million in Q1 2025, up from US$1,135.4 million in the same period last year, representing an 8.3% increase.
