Welcome to our dedicated page for Global Industrial Company news (Ticker: GIC), a resource for investors and traders seeking the latest updates and insights on Global Industrial Company stock.
Global Industrial Company, trading under the symbol GIC on the NYSE, has established itself as an industry leader in the distribution of industrial and maintenance, repair, and operations (MRO) products across North America. With a history spanning over 75 years, Global Industrial offers a vast portfolio of more than a million products, including storage and shelving, safety and security equipment, HVAC and fans, office supplies, and much more. The company caters to a diverse customer base, including small to large corporations, institutions, government agencies, and individual consumers.
Headquartered in Port Washington, NY, Global Industrial is a subsidiary of Systemax Inc. Their extensive product range is complemented by their proprietary Global Industrial Exclusive Brands™. The company emphasizes a solutions-based approach, leveraging their deep product knowledge to help customers solve problems and optimize operational efficiencies. This commitment is reflected in their robust suite of account management tools that enable functionalities like exporting purchase reports, setting spending caps, and managing multiple payments.
Recent achievements include the strategic acquisition of Indoff, which has bolstered their revenue and expanded their product offerings. Financial performance has been strong, with consistent growth in sales and operating income. For instance, the latest quarterly results showed sales of $323.4 million with an 18.1% increase, reflecting solid organic growth driven by enhanced e-commerce channels and customer engagement.
Global Industrial is also dedicated to social responsibility and environmental stewardship. Their ESG initiatives have made significant strides in promoting sustainability and community well-being. A noteworthy project is the collaboration with the Helen Keller National Center, where Global Industrial contributed to the enhancement of the center's facilities and the development of ADA-compliant products.
In summary, Global Industrial Company remains committed to delivering exceptional value and service to its customers, continuously evolving to meet market demands and investing in growth and innovation. Their solid financial standing and strategic initiatives position them well for future success.
Global Industrial Company (NYSE:GIC) has launched the HydroMax Two-Stage Silent Air Compressor, featuring advanced variable speed and Wi-Fi connectivity. The innovative compressor operates at a low 63 dB noise level while delivering 10 HP output through its variable-speed, soft-start motor that optimizes energy consumption.
Key features include an automotive-style water-cooling system, four-level air filtration, remote monitoring capabilities via smartphone, and daisy-chain compatibility for multi-compressor operation. The system's energy-efficient design functions equivalent to a 7.5 HP motor in terms of energy consumption while delivering full 10 HP power, significantly reducing operational costs.
Global Industrial Company (NYSE:GIC) announced its participation in two upcoming investor conferences. Tex Clark, Senior Vice President and CFO, will attend the Stephens NASH24 Conference on November 19, 2024, and the 16th Annual Southwest IDEAS Conference on November 21, 2024.
Management will conduct one-on-one investor meetings at both conferences. The company will deliver a presentation at the Southwest IDEAS Conference at 4:30 p.m. ET on November 21. The presentation will be available via live audio broadcast and replay through the investor relations section of Global Industrial's website.
Global Industrial Company (NYSE:GIC) reported Q3 2024 financial results with sales of $342.4 million, down 3.4% from last year. Operating income decreased 21.3% to $22.2 million with a 6.5% operating margin. The company's gross margin improved to 34.0% from 32.8% last year. Net income per diluted share declined 18.5% to $0.44. Year-to-date sales increased 6.2% to $1.0 billion, though excluding the Indoff acquisition, sales growth was only 0.7%. The company maintains a strong balance sheet with $38.9 million in cash and declared a $0.25 dividend per share.
Global Industrial Company (NYSE:GIC), a distributor of industrial products and MRO supplies, has announced it will release its third quarter 2024 financial results on October 29, 2024 after U.S. market hours. The company will host a conference call and Q&A session at 5:00 p.m. Eastern Time on the same day to discuss the results.
To participate in the call, investors can dial 412-317-6347 five minutes before the start time. Alternatively, a webcast will be available on the company's investor relations website. For those unable to attend, the webcast will be archived for approximately 90 days.
Global Industrial Company (NYSE:GIC) has introduced a new Hydraulic Drum Handler with Universal Grip and Adjustable Support as part of its Made To Exceed™ line of Exclusive Brands. This innovative product is designed to lift, transport, and position various drum types efficiently and safely in commercial and industrial settings.
Key features include:
- Weight capacity of 990 lbs. and lifting capacity of 1,100 lbs.
- Compatible with 30-, 55-, and 85-gallon drums
- Universal grip for steel, poly, or fiber drums
- Adjustable support to keep drums upright during transport
- Four 5-inch polyurethane swivel casters for smooth maneuverability
- Manual hand pump lift mechanism for precise control
The product aims to enhance efficiency, versatility, ergonomics, and safety in drum handling applications across warehouses, manufacturing plants, and other industrial facilities.
Global Industrial Company (NYSE:GIC) has announced a multi-year marketing partnership with the New York Islanders and UBS Arena. This partnership expands the company's sports marketing program and aims to enhance brand awareness and customer engagement. As part of the agreement, Global Industrial will:
1. Feature its tagline 'The Source For Industrial Supplies' at Islanders home games and practice facility
2. Sponsor the Islanders' Ice Crew with branded gear and equipment
3. Support community philanthropy events benefiting the Islanders Children's Foundation
4. Promote girls' youth hockey and recognize military service members
5. Participate in the UBS Arena Business Alliance
The partnership is seen as an opportunity for Global Industrial to showcase its brand to the Islanders' fanbase across the country while supporting the local Long Island community.
Global Industrial Company (NYSE:GIC), a national distributor of industrial products and MRO supplies, has announced its participation in the upcoming Sidoti Small Cap Conference on September 18, 2024. Tex Clark, the company's Senior Vice President and Chief Financial Officer, will be representing Global Industrial at the event.
Key points of the announcement include:
- A presentation scheduled for 2:30 p.m. ET on September 18
- A live virtual broadcast and replay of the presentation available via webcast
- Access to the webcast through the investor relations section of Global Industrial's website
- One-on-one meetings with investors hosted by management on the same day
Investors interested in meeting with Global Industrial's management team are advised to contact their Sidoti representative to arrange a meeting.
Global Industrial Company (NYSE:GIC) has launched the GlobalPure™ PFAS water filter, a new addition to its Made To Exceed™ line of Exclusive Brands. This advanced filtration system removes total PFAS, chlorine, lead, cyst, turbidity, and microplastics from drinking water. With a 3,600-gallon capacity, it requires replacement only once or twice per year, offering the lowest total cost per gallon compared to similar models.
The filter is now a standard feature on Global Industrial's bottle fillers and drinking fountains, including the new Surface Mount Water Bottle Filling Station. It's also available as a replacement filter for existing water fountains. The product is NSF/ANSI certified and compatible with many national brand bottle filling stations and drinking fountains.
Party City Holdco Inc. has appointed Barry Litwin as its new President and CEO. Litwin brings extensive experience in fostering business growth and transformation, with a focus on revenue growth, profit improvement, and operational efficiency. He most recently served as CEO and Board Member of Global Industrial Company (NYSE: GIC), where he achieved market-leading growth in revenue, profit, and share price.
Prior to GIC, Litwin was CEO of Adorama and held senior executive roles at Sears, Office Depot, Avnet, and Fannie May Candies. His appointment is expected to bring fresh perspectives and strengthen Party City's leadership as the company repositions itself for a stronger future in the party goods and supplies industry.
Global Industrial Company (NYSE:GIC) has appointed Lisa Goldson Armstrong as Senior Vice President & Chief Marketing Officer, effective August 12, 2024. Armstrong will report to Richard Leeds, Interim CEO and Executive Chairman, and will oversee marketing, customer experience, and branding initiatives. With over 20 years of strategy and marketing experience, Armstrong most recently served as CMO and VP of Global Marketing at Resideo Technologies. She has also held senior leadership positions at Filtration Group Madison Industries, Pentair, and Honeywell. Armstrong holds an MBA from Cornell University and an HBA from the University of Western Ontario. Her appointment is expected to strengthen Global Industrial's marketing initiatives and customer relationships.
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