Graybar set a new record for sales and net income in the second quarter of the year, company officials said Monday.
The electrical and industrial distributor said that its $3.8 billion in net sales from April to June were up 11.8% compared to the same window last year, while its $158.6 million in net income was up 14.8% over that span.
Graybar’s first-half sales were up 12.1% year-over-year, while net income jumped by 25.7%.
"These results also demonstrate the strength of our long-term strategy and the disciplined execution of key priorities across our business,” Graybar Chairman, President and CEO Kathleen Mazzarella said in a statement. “Together, they position Graybar to sustain growth, expand our capabilities and create long-term value for the company and those we serve."
Graybar also announced Monday that it has completed its acquisition of New Jersey electrical and MRO distributor Samson Electrical Supply; that deal was originally announced in mid-July.
Graybar’s industrial business ranked at no. 14 on ID’s most recent Big 50 list.
