Graybar on Oct. 25 reported its highest quarterly net sales in company history.
Graybar said its net sales for the third quarter totaled $2.31 billion -- a 23.2 percent increase compared to the same period in 2020.
Highlights from the distributor's statement announcing the milestone are thus:
- Reported net income attributable to Graybar for the quarter was $74.3 million, up 115.4 percent from the same period last year.
- For the first nine months of the year, the North American distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services reported net sales of $6.45 billion, a 19.1 percent increase compared to the same period last year.
- Net income attributable to Graybar for the first nine months of the year increased 116.8 percent to $201.6 million.
Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar, observed, “While we are seeing improvements in the economy, the markets we serve continue to face a wide range of challenges. As we navigate through the uncertainty of today’s business environment, we remain focused on delivering an exceptional customer experience and sustaining a healthy financial position for the future.”
Through its network of 292 North American distribution facilities, Fortune 500 corporation Graybar stocks and sells high quality electrical, communications and data networking products from thousands of manufacturers.
“Our strong performance so far this year is a testament to our employees and their dedication to our customers,” concluded Graybar's Mazzarella.
For more information, visit www.graybar.com or call 1-800-GRAYBAR.