Graybar said Wednesday that it posted the highest quarterly sales and earnings numbers in company history in the second quarter of the year.
The employee-owned electrical and industrial distribution giant said that net sales in the April-June window totaled $3.37 billion, up more than 12% from the same quarter last year, while net income was up more than 25% to $138.1 million.
Through the first half of the year, sales reached $6.3 billion while net income came in at $239 million, increases of 10.1% and 10.9%, respectively.
Graybar Chairman, President and CEO Kathleen Mazzarella also said that the company’s “Graybar Connect” initiative saw “key milestones” in the latest quarter, including the “initial upgrade of our ERP system.”
“Looking ahead, we believe our ongoing investments in technology, people and process redesign will support our long-term growth and profitability, enhance the customer experience, and further strengthen our industry leadership position,” Mazzarella said in a statement.
Graybar’s industrial operations came in at no. 16 on ID’s most recent Big 50 list. The St. Louis distributor is celebrating its 100th anniversary as an independent company this year.
