ST. LOUIS — Graybar, a leading distributor of electrical, communications, and data networking products and provider of related supply chain management and logistics services, reported its highest first-quarter net sales and net income in company history.
For the first three months of 2021, Graybar’s net sales totaled $1.9 billion, an increase of 7.2 percent compared to the same period last year. Net income attributable to Graybar for the quarter finished at $47.2 million, a 120.6 percent increase from the first quarter of 2020.
“I am very proud that we set a new first quarter record in net sales and net income,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “We achieved positive results because of the hard work of our employees and the investments we made in our business, both of which were helped by improving economic conditions. While we continue to deal with the ongoing effects of the pandemic, we remain focused on creating an exceptional customer experience, driving accelerated growth and transforming the supply chain for the future.”Tagged with Biggest News, financial results, Graybar