Global Industrial Co Stock Price, News & Analysis

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.

Global Industrial Company (NYSE:GIC) reported its Q2 2024 financial results, showing sales growth of 6.8% to $347.8 million. The company's gross margin improved to 35.2% from 34.7% last year. However, operating income decreased 9.3% to $26.4 million, and net income per diluted share from continuing operations fell 7.1% to $0.52. The company's Board declared a $0.25 dividend. Excluding the Indoff acquisition, organic sales growth was 1.8%. The company noted a cautious customer purchasing environment but continues to invest in growth initiatives. Global Industrial had $38.8 million in cash and cash equivalents and $120.6 million in credit facility availability as of June 30, 2024.

Global Industrial Company (NYSE:GIC), a distributor of industrial products and MRO supplies, has announced its plans to release financial results for the second quarter ended June 30, 2024. The company will unveil these results on Tuesday, July 30, 2024, after U.S. market hours. Following the release, management will host a conference call and Q&A session at 5:00 p.m. Eastern Time on the same day. Interested parties can access the call by dialing 412-317-6347 five minutes before the start time. Additionally, a webcast will be available on the company's investor relations website. For those unable to attend the live call, the webcast will be archived for approximately 90 days.

Global Industrial Company (NYSE:GIC) has launched its new Global Industrial™ Bolted Teardrop Pallet Rack, part of its Made To Exceed™ line of Exclusive Brands. This storage solution is designed for warehouses, retail stores, and manufacturing facilities, offering easy installation and versatility. Key features include:

- Partially-assembled upright frames and pre-punched footplates
- Teardrop shape for easy beam height adjustments at 2" increments
- Recessed channel to protect bolts and nuts
- Compliant with ANSI MH 16.1 standards
- High weight capacity: 33,000 lb. total rated capacity for uprights
- Cost-efficient shipping and repair
- Customizable with various starter and add-on kits
- 2-Year warranty

The product aims to provide exceptional strength, durability, and value to customers, with the flexibility to adapt to evolving business needs.

Global Industrial Company (NYSE:GIC) has expanded its corporate social responsibility program, Partnerships With Purpose, to support K9s For Warriors, a non-profit providing service dogs to U.S. military veterans with PTSD and other traumas. The initiative kicked off at a NASCAR Xfinity Series race event at Pocono Raceway, featuring the K9s For Warriors logo on Austin Hill's No. 21 RCR Chevrolet.

The event included participation from K9s For Warriors team members, Global Industrial associates, and race partners RCR, Bennett Transportation & Logistics, and United Rentals. These partners also support various veteran-focused charities. The collaboration aligns with Global Industrial's 2024 ESG mission, which focuses on veterans, literacy, mental health, and the deaf/blind community.

Global Industrial Company (NYSE: GIC) announced the departure of CEO Barry Litwin, effective August 9, 2024. Litwin is leaving to pursue another opportunity after nearly six years with the company. Richard B. Leeds, the Executive Chairman of the Board, will serve as Interim CEO. Leeds has been with the company since 1982, previously serving as Chairman and CEO from 1995 and as President of the Industrial Products Group until 2011. The Board is conducting a search for a permanent CEO.

Global Industrial Company (NYSE:GIC) announced that CEO Barry Litwin and CFO Tex Clark will attend the Sidoti Small Cap Conference on June 12, 2024. The company will present at 11:30 a.m. ET and offer a webcast of the event. Additionally, management will host virtual one-on-one meetings with investors. More details can be found on the investor relations section of Global Industrial's website.