Graybar Achieves Record Results in 2023

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Mar 14, 2024, 13:08 ET

Company Surpasses $11 Billion in Net Sales

ST. LOUIS, March 14, 2024 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported record company performance in 2023, including record net sales and net income.

Last year, Graybar's net sales increased 4.8%, growing to a record $11.0 billion. Net income attributable to Graybar finished at a record $463.4 million, a 2.3% increase from the previous year.

"I am proud that we finished 2023 with record results," said Graybar Chairman, President and CEO Kathleen M. Mazzarella. "Our investments in growth, combined with the hard work and dedication of our employees, allowed us to surpass $11 billion in sales for the first time in the company's history. Last year, we also launched a strategic transformation program, designed to provide the technical and operational foundation to unlock our company's future potential. As we look forward, we remain focused on serving our customers, accelerating our growth, and transforming our business to achieve long-term success."

Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and data networking products, and specializes in related supply chain management and logistics services. Through its network of more than 345 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network, automate and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.

Media Contact:
Tim Sommer
(314) 578-7672
[email protected]

SOURCE Graybar