ST. LOUIS — Graybar today reported record third quarter results.
For the third quarter, Graybar achieved a net sales record of $1.9 billion, a 10.0 percent increase compared to the same period last year. Net income for the quarter was also a record at $54.0 million, up 82.0 percent from the same period in 2017.
For the first nine months of the year, the company reported net sales of $5.3 billion, an 8.0 percent increase compared to the same period last year. Net income for the first nine months of the year increased 48.1 percent to $119.1 million. The increase in net income was partially due to a lower corporate income tax rate as a result of the Tax Cuts and Jobs Act and ongoing company tax planning initiatives.
“I am very pleased with our results through three quarters,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “We continue to see positive results as we remain focused on delivering an exceptional customer experience and transforming the supply chain for the future. We are committed to investing in our people, technology and service innovation to drive our growth and power a new era of distribution.”Tagged with Biggest News, financial, Graybar