Fastenal Company reported net sales of $1.96 billion for the first quarter of 2025, reflecting a year-over-year increase of 3.4%. When adjusted for one fewer business day compared to the same quarter last year, daily sales grew by 5.0%. Gross profit for the quarter amounted to $883.9 million, representing 45.1% of net sales and marking a 2.6% increase from Q1 2024. Selling, general, and administrative (SG&A) expenses rose by 3.9% to $490.0 million, accounting for 25.0% of net sales. Operating income increased modestly by 0.9% to reach $393.9 million, while net income totaled $298.7 million, up slightly by 0.3% year-over-year. Diluted earnings per share remained flat at $0.52.

The company’s sales performance was supported by an increase in new customer contracts and the fact that Good Friday occurred in Q2 this year instead of Q1, as it did in 2024. Foreign exchange rates had a negative impact of approximately 50 basis points on sales. Unit sales growth was driven by more customer sites spending over $10,000 per month and a slight increase in average sales per site. Pricing had little to no impact on growth, as prices remained generally stable during the quarter.

In terms of product categories, total fastener sales grew by 1.1% and accounted for 30.3% of total sales. OEM fasteners increased by 3.9%, while MRO fasteners declined by 3.3%. This marks the first quarter of year-over-year fastener sales growth in nearly two years, supported by easier prior-year comparisons and new large customer contracts. Non-fastener products, which made up 69.7% of total sales, showed strong performance overall. Safety supplies grew by 7.1%, bolstered by stable demand for personal protective equipment and strong activity in sectors such as warehousing and data centers. Other product lines grew by 6.7%, driven by MRO-focused categories like janitorial and electrical supplies, though growth was moderated by ongoing weakness in OEM-related demand.