Graybar Achieves Record Net Sales for Seventh Consecutive Year
ST. LOUIS, March 13, 2019 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported today that the company finished 2018 with its seventh consecutive year of record net sales.
In 2018, net sales totaled $7.2 billion, an 8.6 percent increase compared to the previous year. Graybar also achieved record net income of $143.3 million, a 100.1 percent increase compared to 2017. The company saw positive organic sales growth across all markets, and its net income was favorably impacted by a lower corporate income tax rate combined with ongoing tax planning initiatives.
"Graybar achieved breakthrough results in 2018 thanks to the outstanding efforts of our employees," said Graybar's Chairman, President and CEO Kathleen M. Mazzarella. "As a company, we have raised the bar on our performance for seven consecutive years by relentlessly working to create an exceptional customer experience and pursuing new opportunities for growth and innovation. I am proud of everything we accomplished last year, and I look forward to sustaining our momentum as we celebrate Graybar's 150th anniversary and 90 years of employee ownership in 2019."
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 289 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.
Media Contact:
Tim Sommer
(314) 578-7672
timothy.sommer@graybar.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/graybar-achieves-record-net-sales-for-seventh-consecutive-year-300811862.html
SOURCE Graybar
