Electrical, communications and data networking supplies distributor Graybar announced March 9 that 2022 net sales increased 20.2% — from $8.8 billion in 2021 to a record $10.5 billion in 2022.
In 2022, Graybar’s income from operations was $653.8 million, an increase of 59.3% from the prior year. Net income attributable to Graybar was $452.9 million, a 72.6% increase from 2021, the company said.
“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.”
Last month, the company named a new District Vice President and a new Vice President of Technology, with both appointments effective as of April 1.