August 16, 2021
Graybar reported its highest quarterly net sales and net income in company history. Graybar’s net sales for the second quarter of 2021 totaled $2.2 billion, an increase of 26.6 percent compared to the same period last year. Net income attributable to Graybar for the quarter finished at $80.1 million, a 115.9 percent increase from the second quarter of 2020.
For the first half of the year, the company reported net sales of $4.1 billion, a 16.9 percent increase compared to the same period last year. Net income attributable to Graybar for the first six months of 2021 increased 117.6 percent to $127.3 million.
“I am very pleased with our record second quarter performance,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “Our employees remain focused on delivering an exceptional customer experience while navigating a fast-changing business environment. We have confidence that our sustained emphasis on growth, innovation and supply chain transformation will continue to drive our long-term success.”