Fastenal Co. (Nasdaq: FAST) of Winona, Minnesota, reported year-end 2021 sales of more than $6 billion, a 6.4% increase over 2020.
The company also reported 2021 fourth-quarter net sales of more than $1.5 billion, 12.8% more than during the same period in 2020.
Fastenal reported a yearly gross profit of $2.77 billion, with net earnings of $925 million for the year. Its 2021 4Q gross profit was $712.9 million, with net earnings for the quarter at $231.2 million, 17.9% over the same period in 2020.
The fourth quarter of 2021 continued to experience strong, economically-driven growth in underlying demand for manufacturing and construction equipment and supplies, which drove higher unit sales that contributed to the increase in net sales in the period,” the company said. “This strength was aided by fewer holiday-related customer facility shut-downs than we typically experience. Similar to the third quarter of 2021, our growth in the fourth quarter of 2021 was slightly limited by slower growth or contraction in sales of certain products to certain end markets related to the COVID-19 pandemic when compared to the fourth quarter of 2020.
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