Fastenal 1Q Sales Jump on Pricing, Contract Wins

Dow Jones04-13 19:16

By Nicholas G. Miller

Fastenal reported higher first-quarter sales on the back of additional contract wins in the past couple years, as well as higher prices.

The supplier of industrial and construction supplies posted net income of $339.8 million, or 30 cents a share, meeting Wall Street's expectations according to FactSet, and up from $298.7 million, or 26 cents a share, the year prior.

Net sales rose 12% to $2.2 billion, in line with Wall Street's forecast, due to improved customer contract signings since the first quarter of 2024 and an improvement in industrial production, the company said. The impact of product pricing on net sales in the first quarter of 2026 was an increase of about 350 basis points, Fastenal said.

Building-products suppliers have been hurt by weak housing and industrial markets, which have dragged down new construction activity. But analysts have said Fastenal has been able to outperform the broader industry by focusing on its largest customers, which are continuing to spend, while tariffs have allowed it to raise prices.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

April 13, 2026 07:16 ET (11:16 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Miller \n\n\n \n\n\n  Fastenal reported higher first-quarter sales on the back of additional contract wins in the past couple years, as well as higher prices. \n\n\n  The supplier of industrial and construction supplies posted net income of $339.8 million, or 30 cents a share, meeting Wall Street's expectations according to FactSet, and up from $298.7 million, or 26 cents a share, the year prior. \n\n\n  Net sales rose 12% to $2.2 billion, in line with Wall Street's forecast, due to improved customer contract signings since the first quarter of 2024 and an improvement in industrial production, the company said. The impact of product pricing on net sales in the first quarter of 2026 was an increase of about 350 basis points, Fastenal said. \n\n\n  Building-products suppliers have been hurt by weak housing and industrial markets, which have dragged down new construction activity. 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