Graybar, a top North American distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, on April 26 reported what the company proclaimed its highest first quarter net sales and net income in its history.
For the first three months of 2021, Graybar said its net sales totaled $1.9 billion -- an increase of 7.2 percent compared to the same period last year.
Net income attributable to Graybar for the quarter finished at $47.2 million, the company said -- a 120.6 percent increase from the first quarter of 2020.
“I am very proud that we set a new first quarter record in net sales and net income,” commented Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar.
Mazzarella added, “We achieved positive results because of the hard work of our employees and the investments we made in our business, both of which were helped by improving economic conditions. While we continue to deal with the ongoing effects of the pandemic, we remain focused on creating an exceptional customer experience, driving accelerated growth and transforming the suppy chain for the future.”
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.