Fastener Sales Gains Widespread in 2017
Nearly every public company with fastener holdings reported sales and profit gains in 2017, according to the End of 2017 FIN Review of Fastener Stocks.
Only one company saw sales decline: Wesco Aircraft. The Valencia, CA-based aerospace fastener supplier reported sales declined 3.2% to $1.43 billion, with a net loss of $237.3 million.
For Wesco Aircraft’s chief rival, the year was wildly successful.
Florida-based KLX, which reported sales of $1.74 billion last year, agreed to be acquired by Boeing for $4.25 billion.
Aerospace fastener manufacturer Arconic also performed well in 2017, with sales from fasteners climbing 3.6% to $5.9 billion.
Automotive fastener suppliers, however, achieved solid results as well. Chief among them was ITW, which reported Automotive OEM segment revenue rose 14.3% to $3.27 billion.
Stanley Black and Decker’s fastener segment achieved revenue increases of 5.8% to $1.95 billion, with profit improving 15.7% to $352 million.
For ongoing coverage of fastener manufacturing and distribution performance, visit the FIN Stock Review on GlobalFastenerNews.com to read the last decade of financial data.
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