ST. LOUIS, Oct. 25, 2021 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported its highest quarterly net sales in company history.
Graybar's net sales for the third quarter totaled $2.31 billion, a 23.2 percent increase compared to the same period in 2020. Net income attributable to Graybar for the quarter was $74.3 million, up 115.4 percent from the same period last year.
For the first nine months of the year, the company reported net sales of $6.45 billion, a 19.1 percent increase compared to the same period last year. Net income attributable to Graybar for the first nine months of the year increased 116.8 percent to $201.6 million.
"Our strong performance so far this year is a testament to our employees and their dedication to our customers," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "While we are seeing improvements in the economy, the markets we serve continue to face a wide range of challenges. As we navigate through the uncertainty of today's business environment, we remain focused on delivering an exceptional customer experience and sustaining a healthy financial position for the future."
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 292 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.