“With so many significant fastener deals completed during 2017, it was not easy selecting the ‘Top Ten’,” Pinnacle Capital CEO Richard Hagan observed.
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Arconic reported revenue for its Engineered Products and Solutions (EP&S) segment - primarily aerospace fasteners - increased 4% to $1.5 billion in the first quarter of 2018.
In 2017, Bossard Americas celebrated the grand opening of its Silicon Valley-based Bossard Design Center, a 10,000 sq ft fastener design and testing facility located 20 miles east of the largest U.S. electric vehicle manufacturer, Tesla.
“All Aerospace sub-markets generated growth, except fasteners, which continues to be impacted by inventory channel adjustments,” the company stated.
“During 2017, fastener segment margins were pressured due to greater quality related expenses and a reversal of the favorable raw material prices experienced in 2016.”
“We are pleased to announce another successful year highlighted by record sales and earnings,” stated CEO Matt Barton.
Bisco Industries opened three new sales facilities in fiscal 2016.
Fastenal Co. capped a turnaround year of fastener sales growth with a double-digit performance in the fourth quarter of 2017.
“Overall we were pleased with the year,” stated CEO DG Macpherson. “We made progress by removing the pricing barrier... while improving our cost structure.”
ITW reported Automotive OEM revenue, including fasteners, grew 9% to $901 million in the opening quarter of 2018.
In 2018, Boeing agreed to acquire aerospace fastener supplier KLX Inc. for $4.25 billion.
“We finished 2017 with a 17.8% increase in average daily sales driven by both acquired revenue and a 6.1% growth within our Lawson business segment."
CEO Erik Gershwind called fiscal 2017 the company’s “first year of significant earnings growth since 2012.”
“While not back to pre-recession levels, our 2017 earnings are more than double Nucor’s average comparable reported earnings of $483 million during the 2010 to 2016 time period,” the company stated.
“Most economic indicators suggest modest organic growth in the industrial sector for 2017,” stated CEO Edward Crawford.
“2017 was a highly productive year” at Simpson Manufacturing.
Full-year Industrial segment revenue rose 5.8% to $1.95 billion, with profit up 15.7% to $352 million.
Overall TriMas sales increased 3% to $817.7 million in 2017, with operating profit growing to $88.5 million.
Full-year net sales declined 3.2% to $1.43 billion, with operating loss of $208.8 million and net loss of $237.3 million.