Graybar Reports Record First Quarter

The company said net sales were up, but net income slipped by nearly 16%.

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ST. LOUIS – Graybar, a leading distributor of electrical, communications and data networking products and related supply chain management and logistics services, on Wednesday 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 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.”

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