Graybar Announces Record Q2 Net Sales

The company's net income was down compared to the same quarter last year.

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ST. LOUIS – Graybar, a leading distributor of electrical, communications and data networking products, reported Monday that it set a new quarterly record for net sales in the second quarter of 2023.

Graybar’s net sales for the second quarter of this year totaled $2.8 billion, an increase of 4.5% compared to the same period last year. Net income attributable to Graybar for the quarter finished at $124.2 million, a 2.7% decrease from the second quarter of 2022.

For the first half of 2023, the company reported net sales of $5.5 billion, an 8.1% increase compared to the same period last year. Net income attributable to Graybar for the first six months of 2023 increased 8.4% to $249 million.

β€œThanks to the hard work of our employees, we continue to achieve positive results,” said Kathleen Mazzarella, Graybar chairman, president and CEO. β€œWe remain focused on providing exceptional service to our customers every day, while we we make strategic investments to transform our business and strengthen our long-term position as an industry leader.”

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