Here are the 10-Q quarterly reports from Global Industrial Company (GIC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GIC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GIC filings page.
Global Industrial Company (GIC) reported third-quarter 2026 net sales of $389.5 million, up 10.2% from $353.6 million, and net income from continuing operations of $24.5 million, up 30.3% from $18.8 million. Operating income from continuing operations was $32.7 million versus $26.3 million. Gross margin was 35.7%, compared with 35.6%.
Previously received IEEPA tariff refunds contributed approximately $2.0 million to third-quarter cost of sales. For the nine months, $23.1 million was recorded as a cost-of-sales benefit, $1.1 million as interest income, and $2.0 million remained in inventory. Net cash provided by continuing operations was $90.5 million for the nine months, compared with $57.7 million a year earlier; cash and cash equivalents were $119.2 million at September 30, 2026.
Management concluded disclosure controls were not effective as of September 30, 2026, due to material weaknesses at Indoff, which represents approximately 12% of revenue. The weaknesses involve IT general controls for change management, segregation of duties and privileged access. Remediation remained ongoing, with completion being pursued during Q4 2026, subject to security design, testing, validation and production deployment.
Global Industrial Company reported higher sales and earnings for the quarter ended June 30 2026. Net sales from continuing operations rose to $386.6 million, up 7.7% year over year, with U.S. sales up 6.3% and Canadian sales up 34.1%. Gross margin improved to 40.2%, boosted by $21.1 million of IEEPA tariff refunds that also contributed to interest income. Net income from continuing operations increased to $37.1 million, or $0.96 per diluted share.
For the first half of 2026, net sales reached $737.0 million and operating income from continuing operations was $69.9 million. Operating cash flow from continuing operations totaled $46.0 million, and cash and equivalents were $86.7 million with no debt, supported by a $125.0 million revolving credit facility extended to 2031. The company continued dividends and share repurchases while noting ongoing material weaknesses in IT general controls at its Indoff subsidiary, with remediation efforts underway. Management also pointed to potential margin headwinds from elevated fuel costs and new tariff actions.
Global Industrial Company reported solid Q1 2026 growth, with net sales rising to $350.4 million from $321.0 million, driven by both price and volume and strong performance from large strategic accounts in the U.S. and Canada.
Operating income from continuing operations increased to $20.6 million from $18.2 million, and diluted EPS from continuing operations improved to $0.39 from $0.35. Total diluted EPS, including discontinued operations, was $0.42. Gross margin was stable at 34.8%, down slightly from 34.9%, as fuel surcharges and project mix offset pricing actions.
Cash stood at $61.7 million with working capital of $225.7 million, and the company had $119.9 million of excess availability under its $125.0 million secured revolver. A quarterly dividend of $0.28 per share was paid. Management highlights ongoing material weaknesses in IT general controls at the Indoff subsidiary but believes the consolidated financial statements are fairly stated while remediation continues. The company has begun filing refund claims for tariffs paid under IEEPA after a recent U.S. Supreme Court decision, though outcomes and timing are uncertain.
Global Industrial Company (GIC) reported Q3 2025 results showing steady growth and stronger profitability. Net sales reached $353.6 million, up 3.3% year over year, led by larger strategic accounts. Gross margin improved to 35.6% from 34.0% on price management and lower freight costs early in the quarter.
Operating income from continuing operations rose to $26.3 million, up 18.5%, and diluted EPS from continuing operations increased to $0.48 from $0.44. Year to date, sales were $1.03 billion (up 2.0%) with operating income of $78.0 million (up 18.2%) and diluted EPS of $1.48 (up from $1.30). Cash and cash equivalents were $67.2 million, supported by $57.7 million in operating cash flow year to date. The company paid a quarterly dividend of $0.26 per share.
The company closed a ~$4.3 million acquisition of an equipment service provider in April 2025. It reported no outstanding borrowings and about $122.1 million of credit facility availability. Management concluded disclosure controls and procedures were not effective due to continuing material weaknesses in certain IT general controls, though no misstatements were identified.