Graybar Reports Record Net Sales in Third Quarter

ST. LOUIS, Oct. 24, 2022 /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 net sales in the third quarter of 2022.

Graybar's net sales for the third quarter totaled $2.8 billion, a 20.6 percent increase compared to the same period in 2021. Net income attributable to Graybar for the quarter was $126.1 million, up 69.7 percent from the same period last year.

For the first nine months of the year, the company reported net sales of $7.8 billion, a 21.7 percent increase compared to the same period last year. Net income attributable to Graybar through three quarters increased 76.5 percent to $355.9 million.

"I am pleased with Graybar's performance so far this year, and I congratulate our employees on achieving a new quarterly net sales record," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "Customer demand for our products and services remains steady, and our financial condition is strong. This allows us to invest in our business and pursue new opportunities that strengthen our position as a leader in supply chain innovation."

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 300 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.

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SOURCE Graybar