Company Surpasses $10 Billion in Net Sales
ST. LOUIS, March 9, 2023 /PRNewswire/ — Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported record company performance in 2022, including record net sales, income from operations and net income.
Last year, Graybar’s net sales increased 20.2%, growing from $8.8 billion in 2021 to $10.5 billion in 2022. Graybar’s income from operations for 2022 was $653.8 million, an increase of 59.3% from 2021. Net income attributable to Graybar finished at $452.9 million, a 72.6% increase from the previous year.
“I am very proud of our outstanding performance in 2022,” said Graybar Chairman, President and CEO Kathleen M. Mazzarella. “Thanks to the extraordinary work of our employees, we finished the year with record results and surpassed $10 billion in sales for the first time in our company’s history. As we look to the future, we will continue to manage our business wisely, invest in growth and explore new opportunities to strengthen our long-term position as a leader in supply chain innovation.”
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 more than 300 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network, automate and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.