Global Industrial Company Reports Third Quarter 2025 Financial Results
Rhea-AI Summary
Global Industrial Company (NYSE:GIC) reported third quarter 2025 results for the period ended September 30, 2025. Net sales were $353.6 million, up 3.3% year-over-year. Gross profit rose to $126.0 million and gross margin improved to 35.6%. Operating income from continuing operations increased 18.5% to $26.3 million (operating margin 7.4%). Net income per diluted share from continuing operations was $0.48.
Year-to-date sales were $1,033.5 million and operating income from continuing operations was $78.0 million. Cash and cash equivalents were $67.2 million, with approximately $120.5 million excess availability on the credit facility. The board declared a $0.26 per-share cash dividend payable November 17, 2025.
Positive
- Operating income +18.5% to $26.3M in Q3 2025
- YTD operating income +18.2% to $78.0M through Sep 30, 2025
- Gross margin expanded to 35.6% in Q3 2025 (up 160 bps)
- Declared cash dividend of $0.26 per share payable Nov 17, 2025
- Quarter operating cash flow provided $22.6M
- Liquidity of $67.2M cash and ~$120.5M credit availability
Negative
- Revenue growth was modest at +3.3% in Q3 2025
- Nine-month sales growth only +2.0% through Sep 30, 2025
News Market Reaction 6 Alerts
On the day this news was published, GIC gained 0.72%, reflecting a mild positive market reaction. Argus tracked a trough of -12.7% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $10M to the company's valuation, bringing the market cap to $1.35B at that time. Trading volume was above average at 1.7x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Sales of
Operating Income Increased
Board Declared
PORT WASHINGTON, NY / ACCESS Newswire / October 28, 2025 / 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, 2025.
Performance Summary* (U.S. dollars in millions, except per share data) | ||||||||||||||||
Highlights | Quarter Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net sales | $ | 353.6 | $ | 342.4 | $ | 1,033.5 | $ | 1,013.6 | ||||||||
Gross profit | $ | 126.0 | $ | 116.3 | $ | 371.1 | $ | 349.7 | ||||||||
Gross margin | 35.6 | % | 34.0 | % | 35.9 | % | 34.5 | % | ||||||||
Operating income from continuing operations | $ | 26.3 | $ | 22.2 | $ | 78.0 | $ | 66.0 | ||||||||
Operating margin | 7.4 | % | 6.5 | % | 7.5 | % | 6.5 | % | ||||||||
Net income from continuing operations | $ | 18.8 | $ | 16.8 | $ | 57.4 | $ | 50.1 | ||||||||
Net income per diluted share from continuing operations | $ | 0.48 | $ | 0.44 | $ | 1.48 | $ | 1.30 | ||||||||
Net income from discontinued operations | $ | 0.0 | $ | 0.0 | $ | 0.1 | $ | 0.2 | ||||||||
Net income per diluted share from discontinued operations | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.01 | ||||||||
* | 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 September 27, 2025 and September 28, 2024, respectively. The third quarters of both 2025 and 2024 included 13 weeks and the first nine months of both 2025 and 2024 included 39 weeks. |
Third Quarter 2025 Financial Summary:
Consolidated sales increased
3.3% to$353.6 million compared to$342.4 million last year.Consolidated gross margin increased to
35.6% compared to34.0% last year.Consolidated operating income from continuing operations increased
18.5% to$26.3 million compared to$22.2 million last year.Net income per diluted share from continuing operations increased
9.1% to$0.48 compared to$0.44 last year.
Year to Date Q3 2025 Financial Summary:
Consolidated sales increased
2.0% to$1.03 billion compared to$1.01 billion last year.Consolidated gross margin increased to
35.9% compared to34.5% last year.Consolidated operating income from continuing operations increased
18.2% to$78.0 million compared to$66.0 million last year.Net income per diluted share from continuing operations increased
13.8% to$1.48 compared to$1.30 last year.
Anesa Chaibi, Chief Executive Officer, said, "We delivered our second consecutive quarter of revenue growth and strong profitability, reflecting solid execution and proactive management of the business. Revenue increased
"We are advancing the transformation of our business model and elevating the placement of the customer at the center of everything we do. This includes the reframing of our go-to-market strategy to take a more intentional approach to attracting customers, expanding the solutions and products we offer, and enhancing our ability to serve customers. Executing on these initiatives will better position the business to grow, capitalize on new opportunities, and broaden the total addressable market we actively pursue."
As of September 30, 2025, the Company had total working capital of
Earnings Conference Call Details
Global Industrial Company will host a conference call and question and answer session on its third quarter 2025 results today, October 28, 2025 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), through its operating subsidiaries, is a value-added distributor and source for industrial equipment and supplies. Leveraging over 75 years of experience, Global Industrial specializes in providing MRO solutions to businesses ranging from small to enterprise, and to the public sector. Global Industrial is committed to its customer-centric strategy and uses industry expertise, products from its Global Industrial Exclusive BrandsTM, and nationally known brands to provide customers with a breadth of offerings to meet their needs. At Global Industrial, "We Can Supply That®".
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Additional written or oral forward-looking statements may be made by the Company from time to time in filings with the Securities and Exchange Commission or otherwise. Any such statements that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management's estimates, assumptions and projections and are not guarantees of future performance. When used in this release, the words "anticipates," "believes," "estimates," "expects," "intends," and "plans" and variations thereof and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this report are based on the Company's beliefs and expectations as of the date of this report and are subject to risks and uncertainties which may have a significant impact on the Company's business, operating results or financial condition. Investors are cautioned that these forward-looking statements are inherently uncertain and undue reliance should not be placed on them. Important risk factors that may affect our future results of operations and financial condition are detailed from time to time in our Securities and Exchange Commission filings. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected events, except as may be required by applicable law.
Investor/Media Contacts:
Mike Smargiassi / Collin Dreizen
The Plunkett Group
212-739-6729
mike@theplunkettgroup.com / collin@theplunkettgroup.com
GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Statements of Operations - Unaudited
(In millions, except per share amounts)
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net sales | $ | 353.6 | $ | 342.4 | $ | 1,033.5 | $ | 1,013.6 | ||||||||
Cost of sales | 227.6 | 226.1 | 662.4 | 663.9 | ||||||||||||
Gross profit | 126.0 | 116.3 | 371.1 | 349.7 | ||||||||||||
Gross margin | 35.6 | % | 34.0 | % | 35.9 | % | 34.5 | % | ||||||||
Selling, distribution and administrative expenses | 99.7 | 94.1 | 293.1 | 283.7 | ||||||||||||
Operating income from continuing operations | 26.3 | 22.2 | 78.0 | 66.0 | ||||||||||||
Operating margin | 7.4 | % | 6.5 | % | 7.5 | % | 6.5 | % | ||||||||
Interest and other expense, net | 0.2 | 0.0 | 0.0 | 0.3 | ||||||||||||
Income from continuing operations before income taxes | 26.1 | 22.2 | 78.0 | 65.7 | ||||||||||||
Provision for income taxes | 7.3 | 5.4 | 20.6 | 15.6 | ||||||||||||
Net income from continuing operations | 18.8 | 16.8 | 57.4 | 50.1 | ||||||||||||
Net income from discontinued operations | 0.0 | 0.0 | 0.1 | 0.2 | ||||||||||||
Net income | $ | 18.8 | $ | 16.8 | $ | 57.5 | $ | 50.3 | ||||||||
Net income per common share from continuing operations: | ||||||||||||||||
Basic | $ | 0.48 | $ | 0.44 | $ | 1.48 | $ | 1.30 | ||||||||
Diluted | $ | 0.48 | $ | 0.44 | $ | 1.48 | $ | 1.30 | ||||||||
Net income per common share from discontinued operations: | ||||||||||||||||
Basic | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.01 | ||||||||
Diluted | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.01 | ||||||||
Net income per common share: | ||||||||||||||||
Basic | $ | 0.48 | $ | 0.44 | $ | 1.48 | $ | 1.31 | ||||||||
Diluted | $ | 0.48 | $ | 0.44 | $ | 1.48 | $ | 1.31 | ||||||||
Weighted average common and common equivalent shares: | ||||||||||||||||
Basic | 38.4 | 38.3 | 38.4 | 38.2 | ||||||||||||
Diluted | 38.5 | 38.4 | 38.4 | 38.4 | ||||||||||||
GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Balance Sheets - Unaudited
(In millions)
September 30, | December 31, | |||||||
2025 | 2024 | |||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 67.2 | $ | 44.6 | ||||
Accounts receivable, net | 149.1 | 126.5 | ||||||
Inventories | 174.6 | 167.1 | ||||||
Prepaid expenses and other current assets | 13.3 | 14.4 | ||||||
Total current assets | 404.2 | 352.6 | ||||||
Property, plant and equipment, net | 18.8 | 19.1 | ||||||
Operating lease right-of-use assets | 103.7 | 72.7 | ||||||
Goodwill and intangibles | 65.1 | 65.7 | ||||||
Other assets | 10.7 | 10.6 | ||||||
Total assets | $ | 602.5 | $ | 520.7 | ||||
Current liabilities: | ||||||||
Accounts payable and accrued expenses | $ | 169.8 | $ | 154.3 | ||||
Operating lease liabilities | 14.9 | 14.1 | ||||||
Total current liabilities | 184.7 | 168.4 | ||||||
Operating lease liabilities | 100.1 | 69.0 | ||||||
Other liabilities | 1.7 | 2.2 | ||||||
Shareholders' equity | 316.0 | 281.1 | ||||||
Total liabilities and shareholders' equity | $ | 602.5 | $ | 520.7 | ||||
GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Statements of Cash Flows - Unaudited
(In millions)
Nine Months Ended September 30, | ||||||||
2025 | 2024 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net income from continuing operations | $ | 57.4 | $ | 50.1 | ||||
Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities: | ||||||||
Depreciation and amortization | 5.8 | 5.8 | ||||||
Stock-based compensation | 5.9 | 1.1 | ||||||
Benefit from deferred taxes | 0.0 | (0.1 | ) | |||||
Change in working capital | (12.1 | ) | (24.2 | ) | ||||
Other, net | 0.7 | 1.9 | ||||||
Net cash provided by operating activities from continuing operations | 57.7 | 34.6 | ||||||
Net cash provided by operating activities from discontinued operations | 0.1 | 0.2 | ||||||
Net cash provided by operating activities | 57.8 | 34.8 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
Purchases of property, plant and equipment | (2.3 | ) | (3.1 | ) | ||||
Acquisition | (4.0 | ) | 0.0 | |||||
Net cash used in investing activities | (6.3 | ) | (3.1 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
Dividends paid | (30.2 | ) | (28.8 | ) | ||||
Stock-based compensation share issuances, net | 1.5 | 1.7 | ||||||
Net cash used in financing activities | (28.7 | ) | (27.1 | ) | ||||
EFFECT OF EXCHANGE RATE CHANGES ON CASH | (0.2 | ) | (0.1 | ) | ||||
NET INCREASE IN CASH | 22.6 | 4.5 | ||||||
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 44.6 | 34.4 | ||||||
CASH AND CASH EQUIVALENTS - END OF PERIOD | $ | 67.2 | $ | 38.9 | ||||
SOURCE: Global Industrial Company
View the original press release on ACCESS Newswire
FAQ
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