Global Industrial (NYSE: GIC) posts Q1 2026 growth and $0.28 dividend
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Global Industrial Company reported solid first quarter 2026 results and declared a cash dividend of $0.28 per share. Net sales rose 9.2% to $350.4 million from $321.0 million, while gross profit increased to $121.9 million with gross margin essentially steady at 34.8% versus 34.9%.
Operating income from continuing operations grew 13.2% to $20.6 million, lifting operating margin to 5.9% from 5.7%. Net income from continuing operations was $15.3 million, and total net income including discontinued operations reached $16.6 million, driving diluted EPS to $0.42 compared with $0.35 a year earlier.
At March 31, 2026, the company reported working capital of $225.7 million, cash and cash equivalents of $61.7 million, and approximately $119.9 million of excess availability under its credit facility. Operating cash flow from continuing operations was $4.7 million, and the company repurchased about 22,000 shares for $0.6 million.
Positive
- Double-digit earnings growth: Operating income from continuing operations increased 13.2% to $20.6 million, while diluted EPS from continuing operations rose 11.4% to $0.39, indicating profitable growth alongside higher sales.
- Ongoing capital returns: The Board declared a $0.28 per share cash dividend and the company repurchased approximately 22,000 shares for $0.6 million, highlighting continued direct returns to shareholders.
Negative
- None.
Insights
Q1 2026 shows healthy growth in revenue, earnings and cash returns to shareholders.
Global Industrial Company delivered 9.2% net sales growth to $350.4 million, with gross margin essentially flat at 34.8%. Operating income from continuing operations increased 13.2% to $20.6 million, modestly improving operating margin to 5.9% from 5.7%.
Net income from continuing operations rose to $15.3 million, and diluted EPS from continuing operations climbed 11.4% to $0.39. Including discontinued operations, diluted EPS reached $0.42. The balance sheet remained strong with shareholders’ equity of $319.9 million and cash of $61.7 million as of March 31, 2026.
The company generated $4.7 million in operating cash flow from continuing operations and returned capital through a $0.28 per share dividend and approximately $0.6 million of share repurchases. Actual impact on investors will depend on the sustainability of mid‑single to high‑single digit sales growth and management’s ability to maintain margins in future quarters.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net sales: $350.4 million
Operating income (continuing operations): $20.6 million
Diluted EPS (continuing operations): $0.39 per share
+5 more
8 metrics
Net sales
$350.4 million
Quarter ended March 31, 2026; up 9.2% from $321.0 million
Operating income (continuing operations)
$20.6 million
Q1 2026; increased 13.2% from $18.2 million
Diluted EPS (continuing operations)
$0.39 per share
Q1 2026; up from $0.35 per share in Q1 2025
Total net income
$16.6 million
Q1 2026; includes $1.3 million from discontinued operations
Quarterly dividend
$0.28 per share
Payable May 26, 2026 to shareholders of record May 18, 2026
Working capital
$225.7 million
As of March 31, 2026
Cash and cash equivalents
$61.7 million
As of March 31, 2026; down from $67.5 million at December 31, 2025
Share repurchases
22,000 shares for $0.6 million
Common stock repurchased during Q1 2026
Key Terms
average daily sales, operating margin, discontinued operations, working capital, +1 more
5 terms
average daily sales financial
"average daily sales increased 7.6% compared to prior year"
The average daily sales is the typical amount of sales a company makes per day over a chosen period, calculated by dividing total sales (in dollars or units) by the number of days in that period. Investors use it like checking a car's average speed to judge momentum: it smooths out one-off spikes or drops to show underlying demand, revenue run-rate and short-term cash flow trends, helping spot whether business activity is growing, steady or fading.
operating margin financial
"Operating margin 5.9% compared to 5.7% last year"
Operating margin shows how much profit a company makes from its core business activities after paying for costs like wages and materials. It’s useful because it tells you how efficiently a company is running—higher margins mean it keeps more money from each dollar of sales, which can indicate better management or stronger products.
discontinued operations financial
"Net income from discontinued operations was $1.3 million"
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
working capital financial
"the Company had total working capital of $225.7 million"
Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.
forward-looking statements regulatory
"This press release contains forward-looking statements within the meaning of that term"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Earnings Snapshot
Net sales: $350.4 million
Q1 2026
Net sales
$350.4 million
+9.2% year-over-year
Operating income from continuing operations
$20.6 million
+13.2% year-over-year
Diluted EPS from continuing operations
$0.39
+11.4% year-over-year
Operating margin
5.9%
up from 5.7% in Q1 2025
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 5, 2026
| (Exact Name of Registrant as Specified in its Charter) | ||
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
Registrant’s telephone number, including area code: (516) 608-7000
| N.A. | ||
| (Former Name or Former Address, if Changed Since Last Report) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions ( see General Instruction A.2 below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CRF 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02 | Results of Operations and Financial Condition | ||||
On May 5, 2026 Global Industrial Company (the "Company") issued a press release announcing its financial results for the first quarter ended March 31, 2026 (the "Press Release"). The Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
On May 5, 2026 at 5:00 p.m. Eastern time, management will host a conference call to discuss the Company's financial results for the first quarter ended March 31, 2026.
| Item 7.01 | Regulation FD Disclosure | ||||
The Press Release also announced the declaration of a cash dividend of $0.28 per share payable to common stock shareholders of record at the close of business on May 18, 2026, payable on May 26, 2026.
The information furnished in Item 7.01 of this Current Report on Form 8-K including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified therein as being incorporated by reference.
| Item 9.01. | Financial Statements and Exhibits. | ||||
Exhibit Index
99.1 | Press Release of Global Industrial Company, dated May 5, 2026. | ||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GLOBAL INDUSTRIAL COMPANY | ||||||||
| Date: May 5, 2026 | ||||||||
| By: | /s/ Thomas Axmacher | |||||||
| Name: Thomas Axmacher | ||||||||
| Title: Vice President and Controller | ||||||||
Exhibit 99.1
GLOBAL INDUSTRIAL REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS
Sales Increased 9.2% to $350.4 Million
Operating Income Improved 13.2% to $20.6 Million; Operating Margin 5.9%
Board Declared $0.28 Dividend
PORT WASHINGTON, NY, May 5, 2026 – Global Industrial Company (NYSE: GIC), a value-added distributor and source for industrial equipment and supplies today announced financial results for the first quarter ended March 31, 2026.
Performance Summary* (U.S. dollars in millions, except per share data) | |||||||||||
| Highlights | Quarter Ended March 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| Net sales | $ | 350.4 | $ | 321.0 | |||||||
| Gross profit | $ | 121.9 | $ | 112.1 | |||||||
| Gross margin | 34.8 | % | 34.9 | % | |||||||
| Operating income from continuing operations | $ | 20.6 | $ | 18.2 | |||||||
| Operating margin | 5.9 | % | 5.7 | % | |||||||
| Net income from continuing operations | $ | 15.3 | $ | 13.5 | |||||||
| Net income per diluted share from continuing operations | $ | 0.39 | $ | 0.35 | |||||||
| Net income from discontinued operations | $ | 1.3 | $ | 0.1 | |||||||
| Net income per diluted share from discontinued operations | $ | 0.03 | $ | 0.00 | |||||||
| * | Global Industrial Company manages its business and reports using a 52-53 week fiscal year that ends at midnight on the Saturday closest to December 31. For clarity of presentation, fiscal years and quarters are described as if they ended on the last day of the respective calendar month. The actual fiscal quarters ended April 4, 2026 and March 29, 2025, respectively. The first quarters of both 2026 and 2025 included 13 weeks. Average daily sales is calculated based upon the number of selling days in each period, with Canadian sales converted to U.S. dollars using the current year's average exchange rate. There were 65 selling days in the U.S. in the first quarter of 2026 compared to 64 selling days in the first quarter of 2025. There were 63 selling days in Canada in each of the first quarters of 2026 and 2025, respectively. | ||||||||||
First Quarter 2026 Financial Summary:
•Consolidated sales increased 9.2% to $350.4 million compared to $321.0 million last year and average daily sales increased 7.6% compared to prior year.
•Consolidated gross margin decreased to 34.8% compared to 34.9% last year.
•Consolidated operating income from continuing operations increased 13.2% to $20.6 million compared to $18.2 million last year.
•Net income per diluted share from continuing operations increased 11.4% to $0.39 compared to $0.35 last year.
•Net income per diluted share from discontinuing operations increased to $0.03 compared to $0.00 last year.
Anesa Chaibi, Chief Executive Officer, said, "We delivered a strong start to 2026, driven by solid execution and continued momentum across the business. First quarter revenue increased 9.2%, with average daily sales growth of 7.6% and operating income up 13.2%. We generated growth each month during the quarter, supported by both price and volume improvement. Performance was led by our largest and most strategic accounts, while Canada delivered its third consecutive quarter of double-digit top-line growth.”
“We are making progress and are encouraged by the actions we have taken to reposition the business and refine our value proposition. This includes aligning around the customer to better serve their needs, and being more intentional in our go-to-market approach. We continue to monitor the broader macro environment and are focused on what we control – executing on our operating plan and continuing to advance the positive changes that we believe will help us evolve the business and drive long-term, profitable growth.”
At March 31, 2026, the Company had total working capital of $225.7 million, cash and cash equivalents of $61.7 million, and excess availability under its credit facility of approximately $119.9 million. Operating cash flow provided by continuing operations in the quarter was $4.7 million. During the first quarter of 2026, the Company repurchased approximately 22,000 shares of its common stock at an aggregate purchase price of $0.6 million. The Company’s Board of Directors has declared a cash dividend of $0.28 per share to common stock shareholders of record at the close of business on May 18, 2026, payable on May 26, 2026.
Earnings Conference Call Details
Global Industrial Company will host a conference call and question and answer session on its first quarter 2026 results today, May 5, 2026 at 5:00 p.m. Eastern Time. A live webcast of the call will be available on the Company’s website at https://investors.globalindustrial.com in the events section. The webcast will also be archived on the website for approximately 90 days.
About Global Industrial Company
Global Industrial Company (NYSE: GIC), is a leading distributor of high-quality, industrial-strength equipment and supplies, serving organizations of all sizes across a wide range of industries. With more than 75 years of experience, customers rely on Global Industrial for its broad portfolio of national and private brands, trusted service and focus on value. We help customers keep their operations running by delivering the right products when they need them, because We Can Supply That®. Visit Globalindustrial.com, and follow us on Facebook, Instagram, and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Additional written or oral forward-looking statements may be made by the Company from time to time in filings with the Securities and Exchange Commission or otherwise. Any such statements that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management's estimates, assumptions and projections and are not guarantees of future performance. When used in this release, the words "anticipates," "believes," "estimates," "expects," "intends," and "plans" and variations thereof and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this report are based on the Company’s beliefs and expectations as of the date of this report and are subject to risks and uncertainties which may have a significant impact on the Company’s business, operating results or financial condition. Investors are cautioned that these forward-looking statements are inherently uncertain and undue reliance should not be placed on them. Important risk factors that may affect our future results of operations and financial condition are detailed from time to time in our Securities and Exchange Commission filings. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected events, except as may be required by applicable law.
This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Additional written or oral forward-looking statements may be made by the Company from time to time in filings with the Securities and Exchange Commission or otherwise. Any such statements that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management's estimates, assumptions and projections and are not guarantees of future performance. When used in this release, the words "anticipates," "believes," "estimates," "expects," "intends," and "plans" and variations thereof and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this report are based on the Company’s beliefs and expectations as of the date of this report and are subject to risks and uncertainties which may have a significant impact on the Company’s business, operating results or financial condition. Investors are cautioned that these forward-looking statements are inherently uncertain and undue reliance should not be placed on them. Important risk factors that may affect our future results of operations and financial condition are detailed from time to time in our Securities and Exchange Commission filings. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected events, except as may be required by applicable law.
Investor/Media Contacts:
Mike Smargiassi / Collin Dreizen
The Plunkett Group
212-739-6729
mike@theplunkettgroup.com / collin@theplunkettgroup.com
Mike Smargiassi / Collin Dreizen
The Plunkett Group
212-739-6729
mike@theplunkettgroup.com / collin@theplunkettgroup.com
GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Statements of Operations – Unaudited
(In millions, except per share amounts)
| Quarter Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Net sales | $ | 350.4 | $ | 321.0 | |||||||
| Cost of sales | 228.5 | 208.9 | |||||||||
| Gross profit | 121.9 | 112.1 | |||||||||
| Gross margin | 34.8 | % | 34.9 | % | |||||||
| Selling, general and administrative expenses | 101.3 | 93.9 | |||||||||
| Operating income from continuing operations | 20.6 | 18.2 | |||||||||
| Operating margin | 5.9 | % | 5.7 | % | |||||||
| Interest and other (income) expense, net | (0.1) | 0.1 | |||||||||
| Income from continuing operations before income taxes | 20.7 | 18.1 | |||||||||
| Provision for income taxes | 5.4 | 4.6 | |||||||||
| Net income from continuing operations | 15.3 | 13.5 | |||||||||
| Net income from discontinued operations | 1.3 | 0.1 | |||||||||
| Net income | $ | 16.6 | $ | 13.6 | |||||||
| Net income per common share from continuing operations: | |||||||||||
| Basic | $ | 0.39 | $ | 0.35 | |||||||
| Diluted | $ | 0.39 | $ | 0.35 | |||||||
| Net income per common share from discontinued operations: | |||||||||||
| Basic | $ | 0.03 | $ | 0.00 | |||||||
| Diluted | $ | 0.03 | $ | 0.00 | |||||||
| Net income per common share: | |||||||||||
| Basic | $ | 0.42 | $ | 0.35 | |||||||
| Diluted | $ | 0.42 | $ | 0.35 | |||||||
| Weighted average common and common equivalent shares: | |||||||||||
| Basic | 38.2 | 38.3 | |||||||||
| Diluted | 38.3 | 38.4 | |||||||||
GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Balance Sheets – Unaudited
(In millions)
| March 31, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 61.7 | $ | 67.5 | |||||||
| Accounts receivable, net | 149.9 | 139.6 | |||||||||
| Inventories | 177.4 | 174.6 | |||||||||
| Prepaid expenses and other current assets | 13.7 | 14.8 | |||||||||
| Total current assets | 402.7 | 396.5 | |||||||||
| Property, plant and equipment, net | 18.1 | 18.5 | |||||||||
| Operating lease right-of-use assets | 87.4 | 91.8 | |||||||||
| Goodwill and intangibles | 63.5 | 64.3 | |||||||||
| Other assets | 9.4 | 9.7 | |||||||||
| Total assets | $ | 581.1 | $ | 580.8 | |||||||
| Current liabilities: | |||||||||||
| Accounts payable and accrued expenses | $ | 161.1 | $ | 162.4 | |||||||
| Operating lease liabilities | 15.9 | 16.1 | |||||||||
| Total current liabilities | 177.0 | 178.5 | |||||||||
| Operating lease liabilities | 83.3 | 87.5 | |||||||||
| Other liabilities | 0.9 | 1.6 | |||||||||
| Shareholders’ equity | 319.9 | 313.2 | |||||||||
| Total liabilities and shareholders’ equity | $ | 581.1 | $ | 580.8 | |||||||
GLOBAL INDUSTRIAL COMPANY
Condensed Consolidated Statements of Cash Flows - Unaudited
(In millions)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
| Net income from continuing operations | $ | 15.3 | $ | 13.5 | |||||||
| Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities: | |||||||||||
| Depreciation and amortization | 1.9 | 1.9 | |||||||||
| Stock-based compensation | 1.4 | 1.8 | |||||||||
| Provision for deferred taxes | 0.2 | 0.1 | |||||||||
| Change in working capital | (14.5) | (14.6) | |||||||||
| Other, net | 0.4 | 0.6 | |||||||||
| Net cash provided by operating activities from continuing operations | 4.7 | 3.3 | |||||||||
| Net cash provided by operating activities from discontinued operations | 1.7 | 0.1 | |||||||||
| Net cash provided by operating activities | 6.4 | 3.4 | |||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
| Purchases of property, plant and equipment | (0.8) | (0.2) | |||||||||
| Net cash used in investing activities | (0.8) | (0.2) | |||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
| Dividends paid | (10.8) | (10.1) | |||||||||
| Stock-based compensation share issuances, net | 0.4 | 1.3 | |||||||||
| Purchase of treasury shares | (0.9) | 0.0 | |||||||||
| Net cash used in financing activities | (11.3) | (8.8) | |||||||||
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | (0.1) | 0.0 | |||||||||
| NET DECREASE IN CASH | (5.8) | (5.6) | |||||||||
| CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD | 67.5 | 44.6 | |||||||||
| CASH AND CASH EQUIVALENTS – END OF PERIOD | $ | 61.7 | $ | 39.0 | |||||||
FAQ
How did Global Industrial Company (GIC) perform in Q1 2026?
Global Industrial delivered higher sales and earnings in Q1 2026. Net sales rose 9.2% to $350.4 million, operating income from continuing operations increased 13.2% to $20.6 million, and diluted EPS from continuing operations grew 11.4% to $0.39 compared with $0.35 last year.
What dividend did Global Industrial Company (GIC) declare with its Q1 2026 results?
The Board declared a $0.28 per share cash dividend. The dividend is payable on May 26, 2026 to common stock shareholders of record at the close of business on May 18, 2026, providing direct cash returns alongside the company’s earnings growth.
How did Global Industrial Company’s margins trend in Q1 2026?
Margins were stable to slightly improved in Q1 2026. Gross margin was 34.8% versus 34.9% a year earlier, essentially flat, while operating margin from continuing operations improved to 5.9% from 5.7% as operating income grew faster than sales.
What is Global Industrial Company’s liquidity position as of March 31, 2026?
Global Industrial reported solid liquidity at quarter-end. The company had $61.7 million in cash and cash equivalents, total working capital of $225.7 million, and approximately $119.9 million of excess availability under its credit facility as of March 31, 2026.
Did Global Industrial Company (GIC) generate positive cash flow in Q1 2026?
Yes, the company generated positive operating cash flow. Net cash provided by operating activities from continuing operations was $4.7 million, with total operating cash flow including discontinued operations of $6.4 million, supporting dividends and modest share repurchases during the quarter.