Welcome to our dedicated page for Global Industrial Co news (Ticker: GIC), a resource for investors and traders seeking the latest updates and insights on Global Industrial Co stock.
Global Industrial Company (NYSE: GIC) is a value-added distributor and source for industrial equipment and supplies, with a focus on maintenance, repair, and operations (MRO) solutions. This news page aggregates company press releases and third-party coverage so readers can follow how Global Industrial communicates its strategy, product launches, and financial performance over time.
Recent news highlights include the introduction of the Global Industrial™ Plastic Guard Rail, a patent-pending facility protection system designed to help protect people, products, and equipment from collision damage while reducing floor damage and maintenance needs. Another announcement covers the Global Industrial™ Mobile Robot Stretch Wrap Machine, a self-propelled, semi-autonomous pallet wrapping solution intended to handle irregular and oversized loads directly on the floor, with programmable film-tension control and touchscreen operation.
In addition to product news, Global Industrial regularly issues earnings releases detailing quarterly financial results, margins, and cash flow, and announces cash dividends as disclosed in its Form 8-K filings. The company also reports on participation in investor conferences and industry events such as ASSP Safety, where it showcases safety, PPE, material handling, and facility maintenance solutions.
Investors, customers, and industry professionals can use this page to monitor updates related to Global Industrial’s MRO offerings, safety and facility products, and communications with the capital markets. Bookmark this feed to follow new product introductions, quarterly earnings announcements, conference appearances, and other corporate developments affecting Global Industrial Company (GIC).
Global Industrial Company (NYSE:GIC) has appointed Alex Tomey as Senior Vice President and Chief Merchandising Officer, effective immediately. Mr. Tomey, who has over 20 years of experience in merchandising, will be responsible for enhancing the company's merchandise strategy. He previously served as Co-Chief Merchandising Officer at Petco and held positions at DICK'S Sporting Goods, Kohl's, and Walmart. CEO Barry Litwin expressed confidence in Tomey's ability to drive margin performance and expand product categories, which is expected to benefit GIC's operations.
Global Industrial Company (NYSE:GIC) reported a 12.6% increase in sales to $272.6 million for Q2 2021, marking the fourth consecutive quarter of double-digit growth. Operating income rose 22.9% to $24.7 million, with operating margin expanding to 9.1%. Net income per diluted share from continuing operations increased 37.5% to $0.55. The company declared a $0.16 dividend for shareholders. Cash and cash equivalents stood at $41.6 million as of June 30, 2021, with positive operating cash flow of $11.6 million.
Global Industrial Company (NYSE:GIC) will participate in the Jefferies Virtual Industrials Conference on August 4, 2021. CEO Barry Litwin and CFO Tex Clark are set to present at 9:00 a.m. ET. Investors can access the live webcast via the company's investor relations page. Additionally, management plans to hold one-on-one meetings with investors on the same day. Global Industrial has over 70 years of experience as a value-added distributor of industrial products and MRO supplies, offering more than one million products, including exclusive brands.
Global Industrial Company (NYSE:GIC) will release its Q2 financial results for the period ending June 30, 2021 on August 3, 2021, after U.S. market hours. Management will conduct a conference call at 5:00 p.m. ET on the same day to discuss the results and answer investor questions. To join the call, dial 412-317-6347 or access the webcast on the company's website. An archived version of the webcast will be available for 90 days.
Global Industrial has been a leading industrial distributor for over 70 years, offering over a million products.
Global Industrial Company (NYSE:GIC) has been recognized as a top 10 MRO industrial distributor and a top 25 industrial and construction distributor by Modern Distribution Management in its annual list. The company reported over $1 billion in sales for 2020. CEO Barry Litwin highlighted the acknowledgment as a testament to the customer-focused efforts of their associates and the success of their ACE strategy and B2B e-commerce platform. The recognition underscores the vital role distributors play in supporting the economy during challenging times.