Electrical, communications and data networking products distributor Graybar, St. Louis, Missouri, reported first-quarter sales of $1.9 billion, a 7.2% increase compared to the previous year. Net income of $47.2 million marked a 120.6% increase compared to the year-ago quarter.
“I am very proud that we set a new first quarter record in net sales and net income,” said Kathleen M. Mazzarella, chairman, president and CEO of Graybar. “We achieved positive results because of the hard work of our employees and the investments we made in our business, both of which were helped by improving economic conditions. While we continue to deal with the ongoing effects of the pandemic, we remain focused on creating an exceptional customer experience, driving accelerated growth and transforming the supply chain for the future.”