Graybar says net sales decreased 3.4% in 2020

March 17, 2021
Meanwhile, net income attributable to Graybar for 2020 was reported at $121.8 million, a 15.7% decrease from the previous year.
Pixabay / PublicDomainPictures
Business Public Domain Pictures 60526da4abc16

On March 10, Graybar, a distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported the company’s 2020 business results.

For the year, Graybar said its net sales totaled $7.3 billion, a 3.4 percent decrease compared to 2019. The company’s income from operations in 2020 was tallied at $224.8 million, a yearly increase of 0.5 percent.

Net income attributable to Graybar for 2020 was $121.8 million, a 15.7 percent decrease from the previous year. The distributor said this decrease was primarily due to a non-cash pension settlement charge of $27.7 million that the company recognized in 2020.

“I am extremely proud of the way Graybar employees rose to the challenge in 2020,” said Graybar’s chairman, president and CEO Kathleen M. Mazzarella.

Mazzarella added, "With remarkable teamwork and resilience, our employees moved our company forward, while caring for our customers, our communities and each other. Thanks to their extraordinary efforts, along with effective management of our business, Graybar finished the year in a strong financial position and continued investing in strategic priorities that will drive our long-term success.”

Through its network of 292 North American distribution facilities, Graybar stocks and sells products from thousands of manufacturers. For more information, visit www.graybar.com or call 1-800-GRAYBAR.

Sponsored Recommendations

imVision® - Industry's Leading Automated Infrastructure Management (AIM) Solution

May 29, 2024
It's hard to manage what you can't see. Read more about how you can get visiability into your connected environment.

Global support of Copper networks

May 29, 2024
CommScope designs, manufactures, installs and supports networks around the world. Take a look at CommScope’s copper operations, the products we support, our manufacturing locations...

Adapt to higher fiber counts

May 29, 2024
Learn more on how new innovations help Data Centers adapt to higher fiber counts.

Going the Distance with Copper

May 29, 2024
CommScopes newest SYSTIMAX 2.0 copper solution is ready to run the distanceand then some.