Welcome to our dedicated page for Global Industrial news (Ticker: GIC), a resource for investors and traders seeking the latest updates and insights on Global Industrial stock.
Global Industrial Company issues updates on its role as a value-added national distributor and source for industrial equipment and supplies. The company serves business and public-sector customers with maintenance, repair and operations products, including storage, safety, material handling, facility maintenance, HVAC, tools, packaging, lighting, foodservice and related workplace categories.
Company news commonly covers quarterly and annual financial results, sales and margin trends, cash dividends, share repurchases, product launches under Global Industrial Exclusive Brands™, restaurant and facility-operations solutions, industry events, customer-market initiatives and commercial partnerships.
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 An archived version of the webcast will be available for 90 days.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.