Earnings release
Page 1
Global Industrial Reports Third Quarter 2026 Financial Results November 3, 2026 Sales Increased 10.2% to $389.5 Million and 8.5% on an Average Daily Sales Basis Diluted EPS Increased 33.3% to $0.64 Board Declared $0.28 Dividend and Special Dividend of $1.00 PORT WASHINGTON, N.Y.--(BUSINESS WIRE)-- Global Industrial Company (NYSE: GIC), a value-added distributor and source for industrial equipment and supplies today announced financial results for the third quarter ended September 30, 2026. Performance Summary* (U.S. dollars in millions, except per share data) Quarter Ended Nine Months Ended Highlights September 30, September 30, 2026 2025 2026 2025 Net sales $389.5 $353.6 $1,126.5 $1,033.5 Gross profit $138.9 $126.0 $416.2 $371.1 Gross margin 35.7% 35.6% 36.9% 35.9% Operating income from continuing operations $32.7 $26.3 $102.6 $78.0 Operating margin 8.4% 7.4% 9.1% 7.5% Net income from continuing operations $24.5 $18.8 $76.9 $57.4 Net income per diluted share from continuing operations $0.64 $0.48 $2.00 $1.48 Net income from discontinued operations $0.1 $0.0 $1.4 $0.1 Net income per diluted share from discontinued operations $0.00 $0.00 $0.04 $0.00 * Third Quarter 2026 Financial Summary: Consolidated sales increased 10.2% to $389.5 million compared to $353.6 million last year and average daily sales increased 8.5% compared to prior year. Consolidated gross margin increased to 35.7% compared to 35.6% last year. Consolidated gross margin benefited by approximately 60 basis points from tariff refunds. Consolidated operating income from continuing operations increased 24.3% to $32.7 million compared to $26.3 million last year. Consolidated operating income benefited by approximately $2.0 million from tariff refunds. Net income per diluted share from continuing operations increased 33.3% to $0.64 compared to $0.48 last year. Net income per diluted share from continuing operations benefited by approximately $0.04 from tariff refunds. Year to Date Q3 2026 Financial Summary: Consolidated sales increased 9.0% to $1.13 billion compared to $1.03 billion last year and average daily sales increased 8.5% compared to prior year. Consolidated gross margin increased to 36.9% compared to 35.9% last year. Consolidated gross margin benefited by approximately 200 basis points from tariff refunds. Consolidated operating income from continuing operations increased 31.5% to $102.6 million compared to $78.0 million last year. Consolidated operating income benefited by approximately $23.1 million from tariff refunds. Net income per diluted share from continuing operations increased 35.1% to $2.00 compared to $1.48 last year. Net income per diluted share from continuing operations benefited by approximately $0.46 from tariff refunds. Anesa Chaibi, Chief Executive Officer, said, “Sustained sales momentum, improved profitability and continued execution of our go- to-market strategy drove another strong quarter for Global Industrial. Third quarter revenue increased 10.2% and we delivered our fourth consecutive quarter of high-single digit average daily sales growth, up 8.5%. Revenue growth was led by our industrial and retail customer verticals and strong double-digit performance among our largest strategic accounts.”
Page 2
“Our go-to-market strategy is strengthening customer relationships, enabling us to win larger opportunities and to capture greater share of wallet. Over the past year, we have continued to advance our customer centric, relationship-driven B2B approach, with a focus on developing a deeper understanding of our customers, enhancing our vertical expertise and better aligning our sales, marketing and merchandising teams. We believe this progress, supported by our strong balance sheet, positions Global Industrial for continued profitable growth and long-term value creation.” At September 30, 2026, the Company had total working capital of $266.2 million, cash and cash equivalents of $119.2 million, and excess availability under its credit facility of approximately $119.8 million. Operating cash flow provided by continuing operations in the quarter was $44.5 million. The Company’s Board of Directors has declared a cash dividend of $0.28 per share and a special cash dividend of $1.00 per share to common stock shareholders of record at the close of business on November 16, 2026, payable on November 23, 2026. Earnings Conference Call Details Global Industrial Company will host a conference call and question and answer session on its third quarter 2026 results today, November 3, 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 ®. Visit , and follow us on , , and . Forward-Looking Statements ’’ Condensed Consolidated Statements of Operations - Unaudited (In millions, except per share amounts) Quarter Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Net sales $ 389.5 $ 353.6 $ 1,126.5 $ 1,033.5 Cost of sales 250.6 227.6 710.3 662.4 Gross profit 138.9 126.0 416.2 371.1 Selling, general and administrative expenses 106.2 99.7 313.6 293.1 Operating income from continuing operations 32.7 26.3 102.6 78.0 Interest and other (income) expense, net (0.4) 0.2 (1.5) 0.0 Income from continuing operations before income taxes 33.1 26.1 104.1 78.0 Provision for income taxes 8.6 7.3 27.2 20.6 Net income from continuing operations 24.5 18.8 76.9 57.4 Net income from discontinued operations 0.1 0.0 1.4 0.1 Net income $ 24.6 $ 18.8 $ 78.3 $ 57.5 Net income per common share from continuing operations: Basic $ 0.64 $ 0.48 $ 2.00 $ 1.48 Diluted $ 0.64 $ 0.48 $ 2.00 $ 1.48 Net income per common share from discontinued operations: Basic $ 0.00 $ 0.00 $ 0.04 $ 0.00 Diluted $ 0.00 $ 0.00 $ 0.04 $ 0.00 Net income per common share: Basic $ 0.64 $ 0.48 $ 2.04 $ 1.48 Diluted $ 0.64 $ 0.48 $ 2.04 $ 1.48
Page 3
Weighted average common and common equivalent shares: Basic 38.2 38.4 38.2 38.4 Diluted 38.2 38.5 38.2 38.4 Condensed Consolidated Balance Sheets - Unaudited (In millions) September 30, December 31, 2026 2025 Current assets: Cash and cash equivalents $ 119.2 $ 67.5 Accounts receivable, net 176.2 139.6 Inventories 153.1 174.6 Prepaid expenses and other current assets 12.7 14.8 Total current assets 461.2 396.5 Property, plant and equipment, net 17.6 18.5 Operating lease right-of-use assets 84.6 91.8 Goodwill and intangibles 61.9 64.3 Other assets 9.4 9.7 Total assets $ 634.7 $ 580.8 Current liabilities: Accounts payable and accrued expenses $ 180.8 $ 162.4 Operating lease liabilities 14.2 16.1 Total current liabilities 195.0 178.5 Operating lease liabilities 80.4 87.5 Other liabilities 1.0 1.6 Shareholders’ equity 358.3 313.2 Total liabilities and shareholders’ equity $ 634.7 $ 580.8 Condensed Consolidated Statements of Cash Flows - Unaudited (In millions) Nine Months Ended September 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net income from continuing operations $ 76.9 $ 57.4 Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities: Depreciation and amortization 5.9 5.8 Stock-based compensation 4.9 5.9 Provision for deferred taxes 0.1 0.0 Change in working capital 0.4 (12.1) Other, net 2.3 0.7 Net cash provided by operating activities from continuing operations 90.5 57.7 Net cash provided by operating activities from discontinued operations 1.6 0.1 Net cash provided by operating activities 92.1 57.8 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property, plant and equipment (2.7) (2.3) Acquisition, net of cash acquired 0.0 (4.0) Net cash used in investing activities (2.7) (6.3) CASH FLOWS FROM FINANCING ACTIVITIES: Dividends paid (32.3) (30.2) Stock-based compensation share issuances, net 1.0 2.2
Page 4
Purchase of treasury shares (5.6) 0.0 Net cash used in financing activities (37.5) (28.7) EFFECT OF EXCHANGE RATE CHANGES ON CASH (0.2) (0.2) NET INCREASE IN CASH 51.7 22.6 CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 67.5 44.6 CASH AND CASH EQUIVALENTS – END OF PERIOD $ 119.2 $ 67.2 Investor/Media Contacts: Mike Smargiassi / Collin Dreizen The Plunkett Group 212-739-6729 / Source: Global Industrial