ST. LOUIS – Graybar reported its second quarter results.
For the second quarter of 2020, Graybar achieved net sales of $1.8 billion, a 9.5 percent decrease compared to the same period last year. Net income attributable to Graybar for the quarter was $37.1 million, down 21.1 percent from the same period in 2019.
For the first half of the year, the company reported net sales of $3.5 billion, a 5.1 percent decrease compared to the same period last year. Net income attributable to Graybar for the first six months of 2020 decreased 28.0 percent to $58.5 million.
“As we navigate today’s uncertain economic environment, we remain focused on keeping our people safe, serving our customers, and making wise decisions for the long-term health of our business,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “I am extremely proud of our employees’ strength in the face of adversity over the past several months. Together, we have supported our customers and our communities, and we have moved our company forward in the midst of challenging circumstances. Graybar’s financial position remains solid, and we look forward to playing a vital role in our nation’s recovery.”Tagged with Biggest News, financial results, Graybar