Graybar Reports Second Quarter Results

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Aug 03, 2020, 17:48 ET

ST. LOUIS, Aug. 3, 2020 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported its second quarter results.

For the second quarter of 2020, Graybar achieved net sales of $1.8 billion, a 9.5 percent decrease compared to the same period last year. Net income attributable to Graybar for the quarter was $37.1 million, down 21.1 percent from the same period in 2019.

For the first half of the year, the company reported net sales of $3.5 billion, a 5.1 percent decrease compared to the same period last year. Net income attributable to Graybar for the first six months of 2020 decreased 28.0 percent to $58.5 million.

"As we navigate today's uncertain economic environment, we remain focused on keeping our people safe, serving our customers, and making wise decisions for the long-term health of our business," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "I am extremely proud of our employees' strength in the face of adversity over the past several months. Together, we have supported our customers and our communities, and we have moved our company forward in the midst of challenging circumstances. Graybar's financial position remains solid, and we look forward to playing a vital role in our nation's recovery."

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 288 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.

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

SOURCE Graybar