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St. Louis, MO-based Graybar reported sales for the third quarter of $1.6 billion, up 0.9 percent over the same period a year ago. Profit decreased 6.6 percent to $28.3 million.
For the first nine months of the year, sales were $4.5 billion, a 3.5 percent increase from the same period last year. Profit decreased 7 percent to $65.9 million.
“We achieved our twelfth consecutive year-over-year quarterly net sales record,” said Kathleen M. Mazzarella, president and CEO. “While we are seeing a slowdown across our industry, our orders on hand did increase in the third quarter and we believe our investments in developing our sales force, expanding our number of locations and enhancing our e-commerce offering have positioned us for continued growth.”