The company’s income from operations for 2022 increased nearly 60% over the previous year, Graybar announced.
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.
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Mark Powell is one of MDM’s associate editors. He is a former mainstream news reporter and editor and has worked in the online, print, radio and TV news industries. Mark earned a bachelor’s degree from San Jose State University and a master’s degree from California State University, Bakersfield. He has lived and worked in various cities across California, Colorado and Kansas and currently lives in Shafter, California.
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