“Our ecommerce team hit a milestone,” Fastenal CEO Dan Florness told analysts on the company’s recent first quarter earnings call. “In March, we exceeded $100 million in revenue for the first time.”
For the first quarter ended March 31, Fastenal — which includes in its total digital sales footprint the sales occurring on Fastenal.com, through EDI and via internet-connected vending machines at customer locations and vendor-managed inventory programs — increased total sales by 20.3% to $1.704 billion from $1.417 billion in the first quarter of 2021. Net earnings in the first quarter were $269.6 million compared with $210.6 million in the first quarter of 2021.
Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, vice president of B2B and Market Research Development, at [email protected]. Follow him on Twitter @markbrohan.
Follow us on LinkedIn and be the first to know when new Digital Commerce 360 B2B News content is published.