Reports record 11.6 billion US dollars In 2024 net sales
Celebrates the 100th anniversary as an independent company in 2025
St. LouisPresent March 13, 2025 / Prnewswire/- Graybar, a leading distributor of electrical, industrial, automation and connectivity products and providers of related supply chain management and logistics services, announced its financial results of 2024 today.
Graybar, which celebrates its 100th anniversary as an independent company this year, reported on a record 11.6 billion US dollars In 2024 net sales, an increase of 5.5% compared to the previous year. The company has achieved a record net turnover in 12 of the past 13 years, except in 2020 due to global pandemic.
Graybar reported 423.1 million US dollars In the net income in 2024, the third highest net income in the history of the company. The net result decreased by 8.7% compared to 2023, mainly due to the company's considerable investments in Graybar Connect, a multi -year strategic business transformation project that was described below.
“Graybar's record sales in 2024 shows our ability to achieve a persistent profitable growth and to invest in our future” Kathleen M. MazzarellaChairman, President and Chief Executive Officer von Graybar. “Workers' ownership underpins this long -term way of thinking and is of crucial importance for everything we do. This approach was a consistent aspect of our culture, since Western Electric Off Graybar shot as a separate business in 1925. The Graybar employees bought the company in 1929, and we became 100 percent owned by our employees and pensioners. Leave it when we found it.
In 2024, Graybar invested in his future through several important initiatives, including:
- Invested for profitable, diversified growth through acquisitions, including Blazer Electric Supply, an electric dealer in ColoradoDynamic solutions in California (via subsidiaries Valin Corporation) and power supply companies in Tennessee (bymen Cape Electrical Supply).
- Invested in advanced technology in advanced technology via Graybar ConnectA multi -year project that focuses on changing the technology, data, processes and organization of the company. After several years of investments, Graybar plans to launch a new Core ERP system in 2025. This represents the company's first major milestone for redesigning its operating model and process framework. Since the new system offers advanced skills and analyzes to employees, it is also on the basis of future project phases, which is the aim of supporting long-term growth, improved profitability and improved customer and employee experience.
- Invested in the next generation of managersWith important management settings in its regional business units as well as sales, operation, strategic planning and customer experience. The company knows that a strong leadership for its long -term success is of crucial importance and that its managers continue to prepare for greater responsibility in the organization.
Mazzarella Concluded, “Today's Business Environment is More Complex and Uncertain Than Ever Before. The Pace of Change Continues to Accelerate, and Sustaining Our Leadership Position Requires Us to Strategical Invest in our Future Through Initiatives Like Graybar Connect. Gives Us The Financial Flexibility to Manage Through Challenges, While WE Capitalize on Opportunities in New Markets, New Customers, New Technologies and of Course, Acquisitions. “
About Graybar
Graybar, a Fortune 500 Corporation and one of the largest companies in employees North Americais a guide in the distribution of high-quality products for electrical, industrial, automation and connectivity and specializes in related supply chain management and logistics services. Through its network of 350 North American sales systems, it puts on products from thousands of manufacturers and sells and sells its customers who use, use, use and secure their facilities with speed, intelligence and efficiency. You can find more information at www.graybar.com or by phone at 1-800 gray bar.
Media contact:
Tim Sommer
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Source Graybar
