ST.
LOUIS, May 1, 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 first quarter net
sales.
For the first three months of 2024, Graybar's net sales totaled
$2.7 billion, an increase of 2.2%
compared to the same period last year and the highest first quarter
net sales in company history. Net income attributable to Graybar
for the quarter finished at $105.2
million, a 15.7% decrease from the first three months of
2023.
"After achieving record results last year, I am pleased with our
solid performance in the first quarter of 2024," said Kathleen M. Mazzarella, chairman, president and
chief executive officer of Graybar. "Although the markets we serve
face continued uncertainty, we remain focused on delivering
exceptional value to our customers, managing our business wisely
and making strategic investments in long-term growth and
transformation to position the company for many more years of
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
timothy.sommer@graybar.com
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SOURCE Graybar