Global Industrial Reports Second Quarter 2026 Financial Results

Sales Increased 7.7% to $386.6 Million and 9.3% on an Average Daily Sales Basis
Board Declared $0.28 Dividend

PORT WASHINGTON, N.Y.--(BUSINESS WIRE)--$GIC #GIC--Global Industrial Company (NYSE: GIC), a value-added distributor and source for industrial equipment and supplies today announced financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Summary:

• Consolidated sales increased 7.7% to $386.6 million compared to $358.9 million last year and average daily sales increased 9.3% compared to prior year.
• Consolidated gross margin increased to 40.2% compared to 37.1% last year. Excluding refunds from tariffs, consolidated gross margin would have been 34.7%, in line with historical performance.
• Consolidated operating income from continuing operations increased 47.2% to $49.3 million compared to $33.5 million last year. Excluding refunds from tariffs, consolidated operating income would have been $28.2 million.
• Net income per diluted share from continuing operations increased 47.7% to $0.96 compared to $0.65 last year. Excluding refunds from tariffs, net income per diluted share would have been $0.54.

Year to Date Q2 2026 Financial Summary:

• Consolidated sales increased 8.4% to $737.0 million compared to $679.9 million last year and average daily sales increased 8.4% compared to prior year.
• Consolidated gross margin increased to 37.6% compared to 36.0% last year. Excluding refunds from tariffs, consolidated gross margin would have been 34.8%.
• Consolidated operating income from continuing operations increased 35.2% to $69.9 million compared to $51.7 million last year. Excluding refunds from tariffs, consolidated operating income would have been $48.8 million.
• Net income per diluted share from continuing operations increased 36.4% to $1.35 compared to $0.99 last year. Excluding refunds from tariffs, net income per diluted share would have been $0.93.

Anesa Chaibi, Chief Executive Officer, said, "We delivered another quarter of strong, broad-based growth, with second quarter revenue increasing 7.7%, and 9.3% on an average daily sales basis. This marks our third consecutive quarter of high single-digit average daily sales growth as we benefited from gains in both volume and price."

"We are pleased with the momentum in the business and the progress we are making in advancing our go-to-market approach. We continue to deepen customer relationships, expand e-procurement adoption, strengthen vertical specialization, and enhance coordination across our sales, marketing, merchandising and digital teams. These initiatives are designed to drive sustainable organic growth, increase share of wallet, support continued market-share gains and enhance our long-term performance."

At June 30, 2026, the Company had total working capital of $249.0 million, cash and cash equivalents of $86.7 million, and excess availability under its credit facility of approximately $119.8 million. Operating cash flow provided by continuing operations in the quarter was $41.3 million. During the second quarter ended June 30, 2026, the Company recorded a benefit of approximately $26.2 million associated with refunds of IEEPA tariffs, comprising $21.1 million related to cost of sales, $4.0 million reduction to inventory not yet sold and $1.1 million of interest income. The Company does not expect any future refunds of IEEPA tariffs assessed to date to be material. Quarter end cash balances reflect approximately $15.3 million of tariff refunds received in the fiscal second quarter, with an additional $10.9 million received in early July recorded as a receivable at quarter end. The Company also repurchased approximately 160,000 shares of its common stock at an aggregate purchase price of $4.7 million during the second quarter ended June 30, 2026. 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 August 17, 2026, payable on August 24, 2026.

Earnings Conference Call Details

Global Industrial Company will host a conference call and question and answer session on its second quarter 2026 results today, August 4, 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.

Investor/Media Contacts:
Mike Smargiassi / Collin Dreizen
The Plunkett Group
212-739-6729
mike@theplunkettgroup.com / collin@theplunkettgroup.com