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Fastenal Co FAST Stock Quote

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Most of Fastenal's End Markets Remain Strong, Despite Some Softening in Consumer Exposed Markets

Dawit Woldemariam Equity Analyst

Business Strategy and Outlook

| Dawit Woldemariam |

Since opening its first fasteners store in 1967, Fastenal has built one of the largest industrial distribution businesses in the United States. For many years, Fastenal’s growth story was driven by its branch count, which now stands just under 1,800. While this expansive footprint is still an important component of Fastenal’s business model, other strategies--including expanding its product portfolio, its vending and inventory management services, and, most recently, its on-site program--have become increasingly important growth drivers.

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Business Description

Fastenal opened its first fastener store in 1967 in Winona, Minnesota. Since then, Fastenal has greatly expanded its footprint as well as its products and services. Today, Fastenal serves its 400,000 active customers through approximately 1,760 branches, over 1,400 on-site locations, and 14 distribution centers. Since 1993, the company has added other product categories, but fasteners remain its largest category at about 30%-35% of sales. Fastenal also offers customers supply-chain solutions, such as vending and vendor-managed inventory.

Contact
2001 Theurer Boulevard
Winona, MN, 55987-1500
T +1 507 454-5374
Industry Industrial Distribution
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 19,523

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