FAST - Industrial Giant Fastenal Records Impressive Q4 Growth - Signs Of A Healthy Economy? | Benzinga
Fastenal Company (NASDAQ:FAST) reported fourth-quarter fiscal 2023 sales growth of 3.7% Y/Y to $1.759 billion, beating the consensus of $1.752 billion.
The company’s net daily sales growth increased 3.7% YoY. The company experienced higher unit sales in the fourth quarter of 2023 primarily due to growth at Onsite locations, particularly those newly opened in 2023 and 2022, and with large customers.
The impact of product pricing on net sales in the quarter was modestly positive, consistent with historical trends, as compared to the impact of product pricing on net sales in the fourth quarter of 2022 of 350 to 380 basis points.