Graybar, St. Louis, Mo., a distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported sales in the third quarter 2023 of $2.9 billion, a 2.3% increase from the same period a year ago.
Profit for the quarter was $117.7 million, down 6.7%.
For the first nine months of the year, the company reported sales of $8.3 billion, a 6% increase compared with the same period last year. Profit was up 3% to $366.7 million.
“I am pleased that we achieved record net sales in the third quarter,” said Kathleen M. Mazzarella, president and CEO of Graybar. “As we continue to navigate changing economic conditions, we remain focused on providing exceptional service to our customers and managing our business wisely. We are also investing in our future, as we move forward with our business transformation strategy and pursue opportunities to strengthen our long-term position in the industry.”
Graybar has more than 325 North American distribution facilities.