GIC · Global Industrial Company

Global Industrial Company reported strong first quarter 2026 results, with net sales increasing 9.2% to $350.4 million from $321.0 million in the prior year period. Average daily sales grew 7.6%, supported by both price and volume improvements. The company generated growth each month during the quarter, led by its largest and most strategic accounts, while Canada delivered its third consecutive quarter of double-digit top-line growth. Gross margin slightly decreased to 34.8% from 34.9%, but operating income from continuing operations improved 13.2% to $20.6 million, with operating margin expanding to 5.9% from 5.7%. Net income from continuing operations rose to $15.3 million, or $0.39 per diluted share, compared to $13.5 million, or $0.35 per diluted share last year. Discontinued operations contributed $1.3 million, or $0.03 per diluted share. Management highlighted solid execution and momentum, noting progress in repositioning the business and refining the value proposition. The company ended the quarter with $61.7 million in cash, $225.7 million in working capital, and $119.9 million in excess credit availability. Operating cash flow from continuing operations was $4.7 million. The Board declared a $0.28 per share dividend payable on May 26, 2026 to shareholders of record on May 18, 2026. During the quarter, the company repurchased approximately 22,000 shares for $0.6 million. No forward guidance was provided in the release.