ST. LOUIS, Mo. — Graybar, a leading distributor of electrical, communications, and data networking products and provider of related supply chain management and logistics services, reported its first quarter results, which included its highest quarterly net sales and net income in company history.
For the first three months of 2022, Graybar’s net sales totaled $2.4 billion, an increase of 25.3 percent compared to the same period last year. Net income attributable to Graybar for the quarter finished at $102.2 million, a 116.5 percent increase from the first quarter of 2021.
“After our strong performance in 2021, I am very pleased that we have sustained our momentum into the first quarter of this year,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “While economic conditions are contributing to growth, the markets we serve continue to be affected by a number of external variables. As a vital link in the supply chain, we remain focused on providing exceptional service to our customers, while we invest in our future and implement our long-term, strategic plan.”Tagged with Biggest News, financial results, Graybar