ST. LOUIS — Graybar reported that the company finished 2016 with its fifth consecutive year of record net sales and third consecutive year with record net income. In 2016, net sales totaled $6.4 billion, a 4.5 percent increase compared to the previous year. The company also earned net income of $93.0 million, which was a 2.2 percent increase compared to 2015.
"I am proud of our record performance in 2016," said Graybar's Chairman, President and CEO Kathleen M. Mazzarella. "Over the past several years, we have invested in people, technology and locations to better serve our customers, while acquiring companies that broaden our reach and complement our business. Thanks to these investments and the dedication of our employees, we once again achieved record sales and net income in 2016."
Mazzarella continued, "Our strong performance gives us the financial flexibility to continue investing in growth for the future. As an employee-owned company, we remain focused on strengthening our position as a leader in the supply chain through innovation and exceptional service."