Global Industrial (GIC) Misses Q3 Earnings and Revenue Estimates

Core Viewpoint - Global Industrial (GIC) reported quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.58 per share, representing a year-over-year decrease from $0.54 per share [1][2] Financial Performance - The company posted revenues of $342.4 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.12% and down from $354.6 million a year ago [2] - Over the last four quarters, Global Industrial has not surpassed consensus EPS estimates and has topped consensus revenue estimates only twice [2] Stock Performance - Global Industrial shares have declined approximately 14.3% since the beginning of the year, contrasting with the S&P 500's gain of 22.1% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $325.12 million, and for the current fiscal year, it is $1.94 on revenues of $1.35 billion [7] - The trend for estimate revisions ahead of the earnings release was unfavorable, which may impact future stock performance [6] Industry Context - The Industrial Services sector, to which Global Industrial belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, suggesting potential challenges ahead [8]