ST. LOUIS, MO., May 1, 2024 – Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported record first quarter net sales.
For the first three months of 2024, Graybar’s net sales totaled $2.7 billion, an increase of 2.2% compared to the same period last year and the highest first quarter net sales in company history. Net income attributable to Graybar for the quarter finished at $105.2 million, a 15.7% decrease from the first three months of 2023.
“After achieving record results last year, I am pleased with our solid performance in the first quarter of 2024,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “Although the markets we serve face continued uncertainty, we remain focused on delivering exceptional value to our customers, managing our business wisely and making strategic investments in long-term growth and transformation to position the company for many more years of success.”
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 345 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.