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 Co (GIC) delivers essential industrial equipment and MRO supplies to businesses across North America, leveraging 75+ years of distribution expertise. This dedicated news hub provides investors and professionals with direct access to the company's official announcements and strategic updates.
Track critical developments including earnings reports, product launches, supply chain partnerships, and operational milestones. Our curated collection ensures you stay informed about GIC's evolving role in industrial distribution and facility maintenance solutions.
Discover updates on leadership changes, technology implementations, and market expansion efforts that shape the company's customer-centric approach. All content is verified from primary sources to maintain accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to GIC's latest business developments. Combine these updates with our analysis tools to monitor the company's performance in the competitive industrial supplies sector.
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 An archived version of the webcast will be available for 90 days.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.
Global Industrial Company (NYSE:GIC) has appointed Adina Storch as Senior Vice President and General Counsel, effective immediately. Reporting to CEO Barry Litwin, she will oversee the company's legal, risk management, and compliance functions. Storch brings significant experience from her previous roles, including General Counsel at Cedar Realty Trust and a partner at Kasowitz, Benson, Torres & Friedman LLP. Her appointment reflects the company's commitment to legal excellence and strategic growth.
Global Industrial Company (NYSE:GIC) will participate in the Southwest IDEAS Virtual Investor Conference on November 18, 2021. Senior Vice President and CFO Tex Clark will host one-on-one meetings with investors during the event. With over 70 years of experience, Global Industrial is a leading distributor of industrial products and MRO supplies, offering an extensive range of over a million items, including exclusive brands. The company emphasizes a solutions-based approach to help customers succeed. For more details, visit their official site.
Global Industrial Company (NYSE:GIC) is set to sponsor Sheldon Creed at the NASCAR Xfinity Series Championship Race on November 6, 2021. Creed will drive the No. 78 Global Industrial Chevrolet Camaro at Phoenix Raceway, one day after participating in the NASCAR Truck Series championship race. This event marks Creed's only NASCAR Xfinity Series start for 2021. The partnership with Richard Childress Racing aims to enhance Global Industrial's brand visibility in a premier racing environment, forging connections with NASCAR's dedicated fanbase.
Global Industrial Company (GIC) reported Q3 2021 sales of $277.4 million, a 2.9% decrease from Q3 2020. Despite supply chain constraints impacting product availability, the company achieved a record gross margin of 36.8% and an operating margin of 11.0%. Operating income totaled $30.6 million, reflecting a sequential growth of 23.9%. Net income per diluted share from continuing operations was $0.61, a 4.7% decline year-over-year. The Board declared a $0.16 dividend per share.
Global Industrial Company (NYSE:GIC) has announced a multi-year floor care trademark license agreement with Caterpillar, launching a new line of Cat® Floor Care Equipment. This product range includes industrial scrubbers, sweepers, and vacuums tailored for facility maintenance. Notable products include the C49R Auto Ride-On Sweeper and the C40R Auto Ride-On Floor Scrubber, designed to enhance productivity and cleaning efficiency. The new line will be showcased at upcoming trade shows in November 2021.
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