Global Industrial Reports First Quarter 2026 Financial Results

About this update from Global Industrial Company

Sales Increased 9.2% to $350.4 MillionOperating Income Improved 13.2% to $20.6 Million; Operating Margin 5.9%Board Declared $0.28 DividendPORT 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)HighlightsQuarter EndedMarch 31,20262025Net sales$350.4$321.0Gross profit$121.9$112.1Gross margin34.8%34.9%Operating income from continuing operations$20.6$18.2Operating margin5.9%5.7%Net income from continuing operations$15.3$13.5Net income per diluted share from continuing operations$0.39$0.35Net income from discontinued operations$1.3$0.1Net income per diluted share from discontinued operations$0.03$0.00*Global Industrial Company manages its business and reports using a 52-53 week fiscal year that ends at midnight on the Saturday closest to December 31. For clarity of presentation, fiscal years and quarters are described as if they ended on the last day of the respective calendar month. The actual fiscal quarters ended April 4, 2026 and March 29, 2025, respectively. The first quarters of both 2026 and 2025 included 13 weeks.Average daily sales is calculated based upon the number of selling days in each period, with Canadian sales converted to U.S. dollars using the current year's average exchange rate. There were 65 selling days in the U.S. in the first quarter of 2026 compared to 64 selling days in the first quarter of 2025. There were 63 selling days in Canada in each of the first quarters of 2026 and 2025, respectively.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 ...

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