Graybar sales up 3.9 percent
Graybar reported record net sales of $1.6 billion for the second quarter, a 3.9 percent increase compared to the same period last year.
Net income for the quarter was $25.6 million, up 2.2 percent from the same period in 2015.
For the first six months of the year, the company reported net sales of $3.1 billion, a 4.5 percent increase compared to the same period last year. Net income for the first six months of the year increased 8.3 percent to $40.7 million.
“Graybar’s second quarter performance reflects the strength of our organization and our sustained focus on achieving profitable growth,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “We believe our investments in locations, people and technology are contributing to our positive results. As we look to the future, we will continue to grow our business by providing customers with exceptional service and innovative solutions for building, maintaining and renovating their facilities.”