Industrial Fastener Stocks Decline in 2015
FEATURE
Industrial Fastener Stocks Decline in 2015
U.S. stocks closed lower in 2015, capping the worst year for the market since 2008.
For public companies with industrial fastener businesses, the results were muted, with both Fastenal Co. and Grainger reporting fastener sales declines during the year.
From the annual FIN Stock Review on GlobalFastenerNews.com:
Dorman Products reported sales, including fasteners, increased 7% to $803 million in 2015., while gross profit margin edged up to 38.4%.
EACO (Bisco Industries) reported revenues, including fasteners, rose 4.1% to $140.2 million in 2015, with gross profit gaining 11% to $41.1 million and gross margin rising to 29.3%. Full-year net income dropped to $3.74 million.
For 2015, Fastenal Co. reported that its fastener product line saw sales decline 1.4%, compared to sales growth of 6.9% the previous year. That decline included a 5.5% gain in sales during the first quarter; no growth in the second quarter; a 4.4% decline in sales during the third quarter; and a 6.2% decline in the final quarter.
Grainger reported sales, including fasteners, were flat at $10 billion in 2015.Net earnings declined 4% to $769 million, while EPS gained 1% to $11.58.
Lawson Products reported net sales, including fasteners, declined 3.5% to $275.8 million in 2015.Average daily sales declined 3% to $1.06 million.
MSC Industrial said sales for fiscal 2015 increased 4.4% to $2.9 billion, with operating income down 1% to $379.5 million and net income falling 2% to $231.3 million.
Nucor Corp. reported Cold Finished Steel sales, including results from Nucor Fastener, dropped 11% to 449,000 tons in 2015. Those figures included a 9% decline in sales to 95,000 tons in the fourth quarter of 2015.
FIN Subscribers may visit FIN STOCK REVIEW on GlobalFastenerNews.com to see the last eight years of each public fastener company’s performance.
Related Stories:
There are no comments at the moment, do you want to add one?
Write a comment