Graybar Reports Record Second Quarter Results

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Jul 31, 2018, 15:34 ET

ST. LOUIS, July 31, 2018 /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 second quarter results.

For the second quarter, Graybar achieved a net sales record of $1.8 billion, a 7.0 percent increase compared to the same period last year. Net income for the quarter was $44.5 million, up 33.5 percent from the same period in 2017.

For the first six months of the year, the company reported net sales of $3.5 billion, a 7.0 percent increase compared to the same period last year. Net income for the first six months of the year increased 28.6 percent to $65.6 million.

"I am pleased with our results through the first half of the year," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "Our investments in people, technology and service innovation are driving profitable growth and strengthening our company for the future. As we look ahead, we remain focused on powering a new era of distribution that brings together the vast potential of technology and the passion of our people to deliver an exceptional customer experience."

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 nearly 290 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.

Contact: Tim Sommer, 314-578-7672

SOURCE Graybar