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Mar 31, 2021
Fastenal Q1 2021 Earnings Report
Fastenal's first quarter results for 2021 were announced, demonstrating growth in net sales and diluted net earnings per share.
Key Takeaways
Fastenal Company reported a 3.7% increase in net sales and a 3.9% increase in net earnings for the first quarter of 2021. Daily sales increased by 5.3%, driven by higher unit sales of fastener, safety, and janitorial products. The company signed 68 new Onsite locations and 4,683 weighted FMI devices.
Net sales increased by 3.7% compared to the first quarter of 2020.
Diluted net earnings per share increased by 3.7% compared to the first quarter of 2020.
Daily sales of fastener products grew by 4.0%, while safety products grew by 14.7%.
E-commerce daily sales grew by 35.5% and represented 12.2% of total revenues.
Revenue by Segment
Forward Guidance
The company believes Onsite signings in 2021 are more likely to fall between 300 and 350 locations and their goal for weighted FMI device signings in 2021 remains at a range of 23,000 to 25,000 MEUs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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