Graybar, St. Louis, reported record net sales for the third quarter and the first nine months of the year. For the third quarter of 2014, Graybar’s net sales hit a record of $1.57 billion, an increase of 5.6% compared to the same period in 2013. The company also reported $30.5 million in net income for the quarter, a 6.4% increase from the same period last year. For the first nine months of the year, Graybar reported record net sales of $4.40 billion, a 3.8% increase, and net income up increased 21.1% to $70.8 million.
“We achieved record results for the third consecutive quarter, which is a testament to our employees and how they work to our customers' advantage,” said Kathleen Mazzarella, Graybar's chairman, president and chief executive officer. “Graybar continues to execute its strategic plan by opening additional locations and expanding our sales organization. We are also enhancing our e-commerce capabilities to improve the customer experience. We believe these investments will help drive profitable growth and our long-term success.”
About the Author
Doug Chandler, Senior Staff Writer
Executive Editor
Doug Chandler began writing about the electrical industry in 1992, and still finds there's never a shortage of stories to be told. So he spends his days finding them and telling them. Educationally, he's a Jayhawk with an English degree. Outside of work, he can often be found banging drums or harvesting tomatoes.