Global Industrial Company (GIC) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen, and welcome to Global Industrial's Second Quarter 2025 Earnings Call. At this time, I would like to turn the call over to Mike Smarjasi of the Plunkett Group. Please go ahead. Thank you, and welcome to the Global Industrial Second Quarter 2025 Earnings Call. Today's call will include formal remarks from Anissa Chibie, Chief Executive Officer, and Tex Clark, Senior Vice President and Chief Financial Officer. Formal remarks will be followed by a question and answer session. Today's discussion may include certain forward-looking statements. It should be understood that actual results could differ materially from those projected due to a number of factors, including those described under the forward-looking statements caption and under risk factors in a company's annual report on Form 10-K and quarterly reports on Form 10-Q. The press release is available on the company's website and has been filed with the SEC on a Form 8K. This call is the property of Global Industrial Company. I will now turn the call over to Anissa. Thank you, Mike. Good afternoon, everyone, and thank you for joining us. We delivered an excellent second quarter performance with record profitability. I'm pleased with the execution of the entire organization, specifically considering the market disruption and uncertainty from the current tariff environment. The team has done a great job mitigating the risk, enabling us to continue to serve our customers. In the quarter, revenue increased 3.2% to $358.9 million. We grew the top line each month during the period and have seen growth continue into July. Performance was driven by our largest strategic accounts, partially offset by a reduction in our smallest and more transactional customers. Gross margin was a record 3...