ST. LOUIS, MO., – Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported its results for the third quarter of 2024.
Graybar’s net sales for the third quarter totaled $3.0 billion, a 4.4 percent increase compared to the same period in 2023. Net income attributable to Graybar for the quarter was $110.2 million, down 6.4 percent from the same period last year.
For the first nine months of the year, the company reported net sales of $8.7 billion, a 4.8 percent increase compared to the same period last year. Net income attributable to Graybar through three quarters of 2024 decreased 11.2 percent to $325.8 million. The decrease in net income for the nine-month period ended September 30, 2024, was due in part to the company’s investments in Graybar Connect, its multi-year, strategic business transformation project.
“I am proud of our positive results through the third quarter,” said Graybar’s chairman, president and CEO Kathleen M. Mazzarella. “Although the markets we serve continue to face uncertainty, we see incredible opportunities for the future. We remain focused on serving our customers and managing our business wisely, while we make strategic investments in growth and transformation to position our company for long-term 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.