Arizona Tribune - Global Industrial Reports First Quarter 2026 Financial Results

PORT WASHINGTON, NY / ACCESS Newswire / May 5, 2026 / Global Industrial Company (NYSE:GIC), a value-added distributor and source for industrial equipment and supplies today announced financial results for the first quarter ended March 31, 2026.

Performance Summary*
(U.S. dollars in millions, except per share data)

First Quarter 2026 Financial Summary:

• Consolidated sales increased 9.2% to $350.4 million compared to $321.0 million last year and average daily sales increased 7.6% compared to prior year.

• Consolidated gross margin decreased to 34.8% compared to 34.9% last year.

• Consolidated operating income from continuing operations increased 13.2% to $20.6 million compared to $18.2 million last year.

• Net income per diluted share from continuing operations increased 11.4% to $0.39 compared to $0.35 last year.

• Net income per diluted share from discontinuing operations increased to $0.03 compared to $0.00 last year.

Anesa Chaibi, Chief Executive Officer, said, "We delivered a strong start to 2026, driven by solid execution and continued momentum across the business. First quarter revenue increased 9.2%, with average daily sales growth of 7.6% and operating income up 13.2%. We generated growth each month during the quarter, supported by both price and volume improvement. Performance was led by our largest and most strategic accounts, while Canada delivered its third consecutive quarter of double-digit top-line growth."

"We are making progress and are encouraged by the actions we have taken to reposition the business and refine our value proposition. This includes aligning around the customer to better serve their needs, and being more intentional in our go-to-market approach. We continue to monitor the broader macro environment and are focused on what we control - executing on our operating plan and continuing to advance the positive changes that we believe will help us evolve the business and drive long-term, profitable growth."

At March 31, 2026, the Company had total working capital of $225.7 million, cash and cash equivalents of $61.7 million, and excess availability under its credit facility of approximately $119.9 million. Operating cash flow provided by continuing operations in the quarter was $4.7 million. During the first quarter of 2026, the Company repurchased approximately 22,000 shares of its common stock at an aggregate purchase price of $0.6 million. The Company's Board of Directors has declared a cash dividend of $0.28 per share to common stock shareholders of record at the close of business on May 18, 2026, payable on May 26, 2026.

Earnings Conference Call Details

Global Industrial Company will host a conference call and question and answer session on its first quarter 2026 results today, May 5, 2026 at 5:00 p.m. Eastern Time. A live webcast of the call will be available on the Company's website at https://investors.globalindustrial.com in the events section. The webcast will also be archived on the website for approximately 90 days.

About Global Industrial Company

Global Industrial Company (NYSE:GIC) is a leading distributor of high-quality, industrial-strength equipment and supplies, serving organizations of all sizes across a wide range of industries. With more than 75 years of experience, customers rely on Global Industrial for its broad portfolio of national and private brands, trusted service, and focus on value. We help customers keep their operations running by delivering the right products when they need them, because We Can Supply That^®. Visit Globalindustrial.com, and follow us on Facebook, Instagram, and LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Additional written or oral forward-looking statements may be made by the Company from time to time in filings with the Securities and Exchange Commission or otherwise. Any such statements that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management's estimates, assumptions and projections and are not guarantees of future performance. When used in this release, the words "anticipates," "believes," "estimates," "expects," "intends," and "plans" and variations thereof and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this report are based on the Company's beliefs and expectations as of the date of this report and are subject to risks and uncertainties which may have a significant impact on the Company's business, operating results or financial condition. Investors are cautioned that these forward-looking statements are inherently uncertain and undue reliance should not be placed on them. Important risk factors that may affect our future results of operations and financial condition are detailed from time to time in our Securities and Exchange Commission filings. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected events, except as may be required by applicable law.

Investor/Media Contacts:
Mike Smargiassi / Collin Dreizen
The Plunkett Group
212-739-6729
[email protected] / [email protected]

GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Statements of Operations - Unaudited
(In millions, except per share amounts)

GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Balance Sheets - Unaudited
(In millions)

GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Statements of Cash Flows - Unaudited
(In millions)

SOURCE: Global Industrial Company

View the original press release on ACCESS Newswire

M.Robinson--AT