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) reported record sales of $318.5 million for Q2 2022, a growth of 16.8% compared to Q2 2021. Operating income also increased 23.5% to $30.5 million, reflecting a strong operating margin of 9.6%. Despite a slight decline in gross margin to 35.5%, net income per diluted share rose 7.3% to $0.59. The company declared a cash dividend of $0.18 per share, payable on August 22, 2022. With solid working capital and positive cash flow, GIC is enhancing its e-commerce platform to capture further market share.
Global Industrial Company (NYSE:GIC) will announce its financial results for Q2 2022 on August 2, 2022, after U.S. market hours. A conference call will follow at 5:00 p.m. ET, accessible at 412-317-6347 or via webcast on the company's investor site. The call will be archived for 90 days for those unable to attend. Global Industrial has a rich history of over 70 years, providing over a million industrial and MRO products and focusing on customer solutions.
Global Industrial Company reported record sales of $288.6 million for Q1 2022, a 15% increase from the previous year. The gross margin reached a record 37.4%, while operating income rose to $29.5 million, resulting in an operating margin of 10.2%. Net income per diluted share from continuing operations was $0.57, significantly up from $0.14 in Q1 2021. The board declared a $0.18 dividend per share, payable May 23, 2022. The company aims to drive growth through the ACE strategy and investments in operational excellence.
Global Industrial Company (NYSE:GIC) will announce its first quarter financial results for the period ending March 31, 2022, on May 3, 2022, after U.S. market hours. A conference call will be held at 5:00 p.m. ET on the same day, where management will discuss the results and answer questions. Interested parties can join the call by dialing 412-317-6347 or via webcast on the company’s website. The archived webcast will be available for 90 days.
Global Industrial, a leading distributor of industrial products, offers over a million items and has been serving customers for over 70 years.
Global Industrial Company (NYSE:GIC) will participate in the Sidoti & Company Small Cap Virtual Conference on March 23, 2022. CEO Barry Litwin and CFO Tex Clark will present at 10 a.m. ET. The presentation will be available via webcast on the company's investor relations page, along with opportunities for one-on-one meetings with investors. Established for over 70 years, Global Industrial is a leading distributor of industrial products and MRO supplies, offering more than a million items, including exclusive brands.
Global Industrial Company (NYSE:GIC) reported Q4 2021 sales of $262.0 million, down 4.3% from $273.9 million in the previous year. Despite the decline, average daily sales rose 3.5%. Operating income increased 23.7% to $26.1 million, with a record gross margin of 37.0%. EPS from continuing operations was up 26.2% to $0.53. The board declared a cash dividend of $0.18, a 12.5% increase. For the full year, sales increased 3.3% to $1.06 billion. The company's liquidity remains strong with $15.4 million in cash and low debt of $4.5 million.
Global Industrial Company (NYSE:GIC) will release its financial results for the fourth quarter ended December 31, 2021, on February 15, 2022, after U.S. market hours. Management will host a conference call at 5:00 p.m. ET the same day, accessible by dialing 412-317-6347 or via a webcast on the company’s website. An archived version of the webcast will be available for 90 days. Global Industrial has been a value-added distributor for over 70 years, offering a wide range of industrial and MRO products.
Massive Bio announced the appointment of Steve McNamara as Chief Operating Officer, effective immediately. McNamara, with extensive experience at Global Industrial Company (GIC) and other firms, is set to drive operational excellence during a phase of rapid growth. In 2021, Massive Bio achieved a 227% revenue increase, a 110% growth in its pipeline, and expanded its site services by 233%. The company aims to operationalize in 19 countries in 2022 and further enhance its AI-enabled clinical trial enrollment services.
Global Industrial Company (NYSE:GIC) has announced a new nationwide cooperative contract with OMNIA Partners aimed at enhancing procurement for public sector customers. This agreement, which expands on their existing private sector partnership, will provide access to a wide range of industrial products and MRO supplies to educational institutions and government entities. The partnership is expected to streamline procurement processes and bolster Global Industrial's sales capabilities in the public sector.
Global Industrial Company (NYSE:GIC) has declared a special cash dividend of $1.00 per share, payable on December 27, 2021, to shareholders of record by December 17, 2021. This announcement follows the payout of over $580 million in dividends since 2017, showcasing the company's strong cash generation and robust balance sheet. Richard Leeds, Executive Chairman, expressed confidence in the company’s position to continue strategic investments for future growth.
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