ST. LOUIS, Oct. 30, 2023 /PRNewswire/ — Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported record net sales in the third quarter of 2023.
Graybar’s net sales for the third quarter totaled $2.9 billion, a 2.3 percent increase compared to the same period in 2022. Net income attributable to Graybar for the quarter was $117.7 million, down 6.7 percent from the same period last year.
For the first nine months of the year, the company reported net sales of $8.3 billion, a 6.0 percent increase compared to the same period last year. Net income attributable to Graybar through three quarters increased 3.0 percent to $366.7 million.
“I am pleased that we achieved record net sales in the third quarter,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “As we continue to navigate changing economic conditions, we remain focused on providing exceptional service to our customers and managing our business wisely. We are also investing in our future, as we move forward with our business transformation strategy and pursue opportunities to strengthen our long-term position in the industry.”
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and data networking products, and specializes in related supply chain management and logistics services. Through its network of more than 325 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network, automate and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.
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