ST. LOUIS — Graybar reported record second-quarter results.
For the second quarter, Graybar achieved a net sales record of $1.8 billion, a 7.0 percent increase compared to the same period last year. Net income for the quarter was $44.5 million, up 33.5 percent from the same period in 2017.
For the first six months of the year, the company reported net sales of $3.5 billion, a 7.0 percent increase compared to the same period last year. Net income for the first six months of the year increased 28.6 percent to $65.6 million.
“I am pleased with our results through the first half of the year,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “Our investments in people, technology and service innovation are driving profitable growth and strengthening our company for the future. As we look ahead, we remain focused on powering a new era of distribution that brings together the vast potential of technology and the passion of our people to deliver an exceptional customer experience.”Tagged with financial, Graybar