Graybar Sets New Quarterly Records for Net Sales and Net Income
ST. LOUIS, Aug. 5, 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 that it set new quarterly records for net sales and net income in the second quarter of 2022.
Graybar's net sales for the second quarter of this year totaled $2.7 billion, an increase of 19.7 percent compared to the same period last year. Net income attributable to Graybar for the quarter finished at$127.6 million, a 59.3 percent increase from the second quarter of 2021.
For the first half of the year, the company reported net sales of $5.1 billion, a 22.3 percent increase compared to the same period last year. Net income attributable to Graybar for the first six months of 2022 increased 80.5 percent to $229.8 million.
"I am proud of Graybar's performance through the first half of 2022," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "Amid changing economic conditions and ongoing global disruption, our business remains strong. We continue to focus on delivering an exceptional customer experience, while we invest in growth and supply chain innovation that will broaden our reach, expand our capabilities and drive our 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 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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