Graybar achieved record net income of $143.3 millionStaff Writer |
Graybar Net sales totaled $7.2 billion, 8.6 percent increase
Graybar, a distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported that the company finished 2018 with its seventh consecutive year of record net sales.
Graybar achieved record net income of $143.3 million, a 100.1 percent increase compared to 2017.
The company saw positive organic sales growth across all markets, and its net income was favorably impacted by a lower corporate income tax rate combined with ongoing tax planning initiatives.
"Graybar achieved breakthrough results in 2018 thanks to the outstanding efforts of our employees," said Graybar's Chairman, President and CEO Kathleen M. Mazzarella.
"As a company, we have raised the bar on our performance for seven consecutive years by relentlessly working to create an exceptional customer experience and pursuing new opportunities for growth and innovation.
"I am proud of everything we accomplished last year, and I look forward to sustaining our momentum as we celebrate Graybar's 150th anniversary and 90 years of employee ownership in 2019." ■
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