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.