Core Viewpoint - Global Industrial reported quarterly earnings of $0.52 per share, matching the Zacks Consensus Estimate, but down from $0.56 per share a year ago [1][2] Financial Performance - Revenues for the quarter ended June 2024 were $347.8 million, missing the Zacks Consensus Estimate by 0.30%, compared to $325.8 million in the same quarter last year [2] - The company has exceeded consensus revenue estimates three times in the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is $0.63 on revenues of $366.48 million, and for the current fiscal year, it is $1.93 on revenues of $1.37 billion [8] Stock Performance - Global Industrial shares have declined approximately 9.4% since the beginning of the year, while the S&P 500 has gained 14.5% [6] - The stock currently holds a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [4][13] Industry Context - The Industrial Services industry, to which Global Industrial belongs, is currently ranked in the bottom 10% of over 250 Zacks industries, suggesting a challenging environment [14] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [13]

Results of Operations Three and Six Months Ended June 30, 2024 compared to the Three and Six Months Ended June 30, 2023 | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------|----------------|-----------------------|-------------------------|--------------|-------------------------|-----------------------| | | Three \n2024 | Months Ended \n2023 | June 30, \n% Change | Six \n2024 | Months Ended \n2023 | June 30, \n% Change | | Net sales of continuin ...

Financial Performance - Consolidated sales increased 6.8% to $347.8 million compared to $325.8 million last year[5] - Year-to-date sales increased 11.9% to $671.2 million compared to $599.6 million last year[6] - Average daily sales increased by 1.8% on an organic basis in the second quarter[7] - Operating income from continuing operations decreased 9.3% to $26.4 million compared to $29.1 million last year[5] - Operating income for the first six months decreased 6.6% to $43.8 million compared to $46.9 million last year[6] - Net income from continuing operations for the six months ended June 30, 2024, was $33.3 million, a decrease of 4.3% compared to $34.8 million for the same period in 2023[15] - Net income per diluted share from continuing operations decreased 7.1% to $0.52 compared to $0.56 last year[5] Cash Flow and Investments - Net cash provided by operating activities from continuing operations decreased to $25.0 million for the six months ended June 30, 2024, down from $65.5 million in the prior year, a decline of 61.8%[15] - The company reported a net cash used in investing activities of $2.2 million for the six months ended June 30, 2024, compared to $73.7 million in the prior year, indicating a significant reduction in investment outflows[15] Assets and Liabilities - Total assets rose to $542.5 million as of June 30, 2024, compared to $513.4 million at the end of 2023, marking an increase of 5.9%[13] - Total current assets increased to $366.9 million as of June 30, 2024, up from $329.8 million on December 31, 2023, representing an increase of 11.9%[13] - Total current liabilities increased to $195.8 million as of June 30, 2024, up from $174.2 million on December 31, 2023, reflecting a rise of 12.8%[13] - Cash and cash equivalents at the end of the period were $38.8 million, a decrease from $44.9 million at the end of 2023, representing a decline of 13.6%[15] Shareholder Returns - The Board declared a cash dividend of $0.25 per share, payable on August 19, 2024[7] - Dividends paid increased to $19.2 million in the first half of 2024, compared to $15.3 million in the same period of 2023, an increase of 25.5%[15] Working Capital - The company had total working capital of $171.1 million and cash and cash equivalents of $38.8 million as of June 30, 2024[7] - The company experienced a change in working capital of $(14.5) million for the six months ended June 30, 2024, compared to a positive change of $25.4 million in the prior year[15] Strategic Initiatives - The company continues to invest in key growth initiatives to strengthen its competitive position and enhance revenue growth[7] - Gross margin improved to 35.2% from 34.7% in the prior year, with an adjusted gross margin of 36.8% excluding Indoff[5] - Shareholders' equity rose to $270.4 million as of June 30, 2024, up from $255.2 million at the end of 2023, reflecting a growth of 5.8%[13]

Global Industrial (GIC) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.53%. A quarter ago, it was expected that this technology products marketer would post earnings of $0.40 per share when it actually produced earnings of $0.40, delivering no surprise.Over the last four quarters ...

For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (516) 608-7000 Securities registered pursuant to Sect ...

Exhibit 99.1 GLOBAL INDUSTRIAL COMPANY REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Sales of $323.4 Million, Increase 18.1% Operating Income of $17.4 Million; Operating Margin 5.4% Board Declares $0.25 Dividend PORT WASHINGTON, NY, April 30, 2024 – Global Industrial Company (NYSE: GIC) today announced financial results for the first quarter ended March 31, 2024. | Performance Summary* | | | | | | --- | --- | --- | --- | --- | | (U.S. dollars in millions, except per share data) | | | | | | Highlights | | Qua ...

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13792 Global Industrial Company (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization ...

Global Industrial Company (GIC) reported earnings of 40 cents per share in fourth-quarter 2023, in line with the Zacks Consensus Estimate. The bottom line increased 14% from the year-ago quarter’s earnings of 35 cents per share. Contribution from the Indoff acquisition, improved volumes and strength in the e-commerce channel drove the improvement in the quarter.The company reported net sales of $320 million in the reported quarter, up 23% from the year-ago quarter’s levels. The top line surpassed the Zacks ...

Financial Data and Key Metrics Changes - The company reported fourth quarter revenue of $320.1 million, an increase of 22.9% year-over-year, with organic revenue up 5.1% year-over-year, marking the largest growth rate of the year [11][27] - Gross profit for the quarter was $108.2 million, up 15.4% from last year, with a gross margin of 33.8%, down 220 basis points from the previous year due to the lower margin profile of the Indoff acquisition [12][11] - The company ended the year with a modest increase in cash position, reporting $34.4 million in cash and no debt, with a current ratio of 1.9:1 [15][11] Business Line Data and Key Metrics Changes - Organic U.S. revenue increased by 5%, while organic revenue in Canada rose by 7% in local currency, with e-commerce representing over 60% of total annual order volume [33][11] - Private brand demand accounted for approximately 50% of total sales in 2023, indicating strong performance in this segment [33][11] Market Data and Key Metrics Changes - The market environment remains cautious, with modest organic growth observed at the start of the year, and industry-wide MRO growth in low single digits [10][19] - The company has faced double-digit increases in ocean freight costs due to shipping disruptions, which may impact gross margins in future quarters [35][11] Company Strategy and Development Direction - The company aims to enhance its customer-centric strategy by improving the buying experience and investing in sales, marketing, and operational efficiencies [28][31] - There is a renewed focus on quality and value, with initiatives to improve product sourcing, delivery, and customer service [30][11] - The company plans to leverage the Indoff acquisition to expand service offerings and enhance project management capabilities [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the market, noting that while there are pricing pressures, they believe there are opportunities for growth in a fragmented market [19][10] - The company anticipates a more consistent and normalized tax rate of around 25% for 2024 [40][11] Other Important Information - The company announced a 25% increase in the quarterly recurring dividend to $0.25 per share, marking the eighth consecutive annual increase [6][11] - Capital expenditures for 2024 are expected to be in the range of $6 million to $8 million, primarily for maintenance-related investments [36][11] Q&A Session Summary Question: Can you comment on the cadence of your sales in the fourth quarter and first quarter trends? - Management noted that they were pleased with the 5.1% organic growth in Q4 and did not experience significant disruption from winter weather, indicating a relatively good season for winter products [18][11] Question: What are the expectations for gross margins in 2024 with the full-year impact of Indoff? - Management indicated that while Indoff has a lower gross margin profile, they are working to improve its margins over time and maintain a focus on overall gross margin [56][11] Question: Is there a target for private brand penetration beyond the current 50%? - Management believes there is upside potential for private brand penetration and will continue to refine their product assortment to enhance this segment [44][11] Question: How much of your shipping is affected by the disruptions in the Red Sea? - Management clarified that very little of their shipping comes through that channel, but overall industry rates have increased due to disruptions, which they are monitoring closely [46][11]

Global Industrial (GIC) came out with quarterly earnings of $0.40 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this technology products marketer would post earnings of $0.51 per share when it actually produced earnings of $0.54, delivering a surprise of 5.88%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Global Ind ...