ST. LOUIS, August 5, 2022 /PRNewswire/ — Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today announced that it has established new quarterly records for net sales and net profit in the second quarter of 2022.
Graybar’s net sales for the second quarter of this year totaled $2.7 billion, an increase of 19.7% compared to the same period last year. Net income attributable to Graybar for the quarter ended $127.6 millionan increase of 59.3% compared to the second quarter of 2021.
For the first half of the year, the company recorded net sales of $5.1 billion, an increase of 22.3% compared to the same period last year. Net income attributable to Graybar for the first six months of 2022 increased by 80.5% to reach $229.8 million.
“I am proud of Graybar’s performance in the first half of 2022,” said Kathleen M. Mazzarella, Chairman, President and CEO of Graybar. “Amid changing economic conditions and ongoing global disruptions, our business remains strong. We continue to focus on delivering an exceptional customer experience as we invest in supply chain growth and innovation that will expand our reach, expand our capabilities and drive our long-term strategy. Hit.”
Graybar, a Fortune 500 company and one of the largest employee-owned companies North America, is a leading distributor 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 300 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.
SOURCE gray bar