Graybar’s Year: $4.6 billion
In Sales
With $4.6 billion in 2010 sales,
Graybar posted a 5.4% increase over 2009’s results. The company said in its
release that Q4 sales, at $1.24 billion, were up almost 15%.
From Robert Reynolds Jr., the company’s
chairman, president, and CEO: “After a slow start, momentum began to build in
our markets and we capitalized on this opportunity….Our performance in 2010
resulted from improving conditions and a consistent focus on our long-term view
of our business….The company is well positioned for anticipated growth in 2011,
as we continue to work to our customers’ advantage.”
Here are Graybar’s sales in 2010
by quarter, according to the 10-K it filed with the SEC:
Q1—$1.001 billion
Q2—$1.131 billion
Q3—$1.249 billion
Q4—$1.235 billion
A few other notes from the 10K:
- Backlog at Dec. 31, 2010 was $604 million, up 14.7% from one year earlier.
- 53% of products sold in 2010 came from the company’s top 25 suppliers.
- Graybar said that it “estimates that the five largest wholesale distributors
account for approximately 28% of the total market” for electrical and datacom
products.
Other Graybar news:
Funding for research—Graybar
donated $250,000 to ELECTRIC International, the research arm of the organized
electrical construction industry, “in recognition of products purchased by NECA
contractors through Graybar and Graybar ESP manufacturers from Feb. 2, 2010,
to Nov. 30, 2010.
Member of the Year—according
to Courant.com, the Independent Electrical Contractors of New England in December
presented Graybar with the 2010 Associate Member of the Year award.
Public contracts won by Graybar—
- Adams State College said on Dec. 10, 2010, that it awarded an $11,800 contract
to Graybar “for liquid-filled pad-mounted transformers.”
- The Defense Logistics Agency awarded a $37,788 contract to Graybar for circuit
breakers (March 8)
- The Defense Supply Center awarded a $47,915.76 contract to Graybar for circuit
breakers (Jan. 10).
- Stevens Point, Wis., awarded a street lighting contract to Graybar for $45,080,
according to the local newspaper (Feb. 22).
Electrical/Datacom
AAI—a Feb. 27 Post Standard article (we
couldn’t find it online) discussed how Auburn Armature Inc. “changed from a
small private company that primarily rebuilt electric motors to a much larger
company that today derives most of its business from sales and distribution
of commercial and industrial electrical products.”
AAI’s annual sales
last year were “significantly north of $40 million,” according to Mike Capocefalo,
owner and president (and son of John, who founded the company in 1949). In 1998,
when the company moved into a $2.5 million facility, sales were $7 million,
according to the newspaper.
ALL INDUSTRIAL E.S.—All
Industrial Electrical Supply (Burlingame, Calif.) and Consolidated Parts (Santa
Clara, Calif.) have received $5.8 million in financing from Bridge Bank. Release. From Alex Vaysberg, president of the electrical
distributor and managing partner for Parts, which provides HVAC supplies: “We
deliberated a long time on this issue and have decided to switch our banking
relationship to Bridge. It was definitely a hard decision, as our current bank
has treated us well. But we must do what is best in the long term for our businesses.”
BUCKLES-SMITH—the company has strengthened its team in
Monterey County (Calif), it said, adding Pat Ballew and Aimee Eala as account
managers, Eric Ramos as project manager, and Alex Molina as inside sales rep—who
have a collective 55 years of electrical industry experience. The company said
it would expand its existing Salinas facility “to accommodate additional on-hand
inventory to meet the same-day delivery needs of customers in the local market.”
Caption provided by Buckles-Smith: Buckles-Smith
Salinas Service Center New Hires.
Front row, left-to-right: Bill Edwards, Aimee
Eala, Caroline Foster, Eric Ramos.
Back row: Alex Molina, Patrick Ballew, Justin
Esteban.
According to the release:
(1) Adding the four people “facilitates continuity of service to customers formerly
served by Central Wholesale,” which said in January that it would cease operations;
and (2) Buckles-Smith, founded in 1939, is the oldest electrical distributor
in Northern California.
ECHO E.S.—Echo Electric Supply and Plymouth Electric
were identified by KWBE-AM as owners of material inside a building in Beatrice,
Neb. “The material was being stored there for the new Beatrice Community Hospital,
under construction,” according to the report.
FROST—a release posted to PRWeb.com from Frost informed readers
that the downtown St. Louis branch “now boasts an impressive Bosch Tool Center
within the store”—something that “sets Frost apart as one of only three Bosch
Systems Specialist dealers in Missouri.”
RESCO—Rural Electric Supply Cooperative of Moorhead,
Minn. will supply three-phase transformers for a project in Madison S.D., despite
being second lowest in the bidding (at $65,500), according to The Madison Daily Leader. WESCO was lowest at $64,300. “RESCO was the chosen
supplier because the cooperative’s evaluation price of $123,000 for CG Power
transformers was lower than the bids from the other suppliers,” according to
the article. “WESCO offered the second-lowest evaluation bid of $126,000 for
General Electric equipment.”
TALLADEGA E.S—a local newspaper article that pushed “local business and individuals”
to help the Talladega (Fla.) High School baseball booster club noted that lighting
problems at the team’s ballpark—bulbs blown out by storms—“were donated…last
year by Talledega Electrical Supply.”
TELECOM E.S.—Telecom Electric Supply was one of three
winners of the Omnis Award from Oncor in that company’s supplier diversity recognition
program. More.
WESCO—the company has completed its succession
effort (first discussed in 2009), with Roy Haley ending his term as board chairman
on May 25. John Engel, who has been president and CEO, will add the chairman’s
title on that date, the company said.
From the retiring Haley,
as quoted by the Pittsburgh Business Times (March 10)—this was not included
in the official release, but apparently was sent to the newspaper “in a written
statement:” I have had the distinct privilege of being associated with WESCO,
and I could not be more proud of our company and the quality of our organization.
John Engel joined
WESCO almost seven years ago, and he has done an outstanding job positioning
WESCO for continued growth and profitability over the long term. I am confident
that the management team, under John’s leadership, will be highly successful.
Also on WESCO—CBC
Connect (Miamisburg, Ohio), a unit of WESCO subsidiary Carlton-Bates, extended
an agreement with The Offshore Group for “manufacturing support or ‘shelter
services’” in Mexico—through 2015. That’s where “approximately 140 workers are
employed in the manufacturer of industrial wire harnesses and Deutsche connectors.”
More.
YALE E.S.—Yale Electric Supply (Lancaster, Pa.),
which has 10 locations in Delaware, New Jersey, and Pennsylvania, was named
2010 Marketeer of the Year by Legrand North America. It’s the third straight
year that Yale has taken home this honor.
Caption from Yale Electric Supply: The achievement award was presented to Jeff
Frazier and John Rodman, vice president of sales, Lancaster Division, for Yale
Electric Supply on Feb. 24 by Scott Bausch, Eastern Region vice president, Electrical
Wiring Systems Division of Legrand North America;
and Chub Shenk, sales rep
for Brazill Brothers, agent for Legrand North America. Fortune’s “Most Admired” Distributors
Fortune magazine annually publishes its list of
the “World’s Most Admired Companies.” Those on the list of the “Wholesalers:
Diversified” included:
1. Grainger
2. Graybar
6. Anixter
8. Wesco
10. Rexel
More here.
© 2012 The Electrical Distributor. All rights reserved.