Graybar Reports First Quarter Results
ST. LOUIS, April 28, 2020 /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 first quarter results.
For the first three months of 2020, Graybar's net sales totaled $1.8 billion, a decrease of 0.3 percent compared to the same period last year. Net income attributable to Graybar for the quarter finished at $21.4 million, a 37.6 percent decrease from the first quarter of 2019.
"Like most companies, we faced unexpected challenges in the first quarter because of the COVID-19 pandemic," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "Graybar is an essential business, and we applaud our employees' dedication to serving our customers and supporting our nation's critical infrastructure. While the future remains challenging, Graybar is a resilient company that has stood the test of time. Because of this solid foundation, we are confident in our ability to withstand this crisis as we prepare for recovery."
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 288 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.
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