Earnings

Global Industrial Extends Daily-Sales Streak, Adds Special Dividend

The Tip Desk · November 10, 2026 · 3 min read

Third-quarter sales reached $389.5 million, up 10.2%, as average daily sales rose 8.5% for a fourth straight high-single-digit quarter.

Global Industrial Company (GIC), a value-added distributor of industrial equipment and supplies, reported third-quarter sales of $389.5 million, up 10.2% from $353.6 million a year earlier, and average daily sales growth of 8.5%.

Chief Executive Officer Anesa Chaibi said the quarter marked the fourth consecutive period of high-single-digit average daily sales growth. She said revenue growth was led by industrial and retail customer verticals and strong double-digit performance among the company’s largest strategic accounts.

Sales rose sequentially to $389.5 million from $386.6 million in the second quarter, following a larger increase from $350.4 million in the first quarter.

Gross margin was 35.7%, compared with 35.6% a year earlier. The company said the quarter benefited by about 60 basis points from tariff refunds. GAAP gross margin compressed sequentially from 40.2% in the second quarter, which had included a $26.2 million IEEPA tariff refund. First-quarter gross margin was 34.8%.

Operating income from continuing operations increased 24.3% to $32.7 million from $26.3 million a year earlier, with about $2.0 million of the increase from tariff refunds. Operating margin expanded to 8.4% from 7.4%. GAAP operating income from continuing operations fell sequentially from $49.3 million in the second quarter, which included the tariff refunds. First-quarter operating income was $20.6 million.

Diluted earnings from continuing operations increased 33.3% to $0.64 a share from $0.48 a year earlier, with about $0.04 of the increase from tariff refunds. Diluted EPS from continuing operations declined sequentially from $0.96 in the second quarter on a GAAP basis that included tariff refunds. First-quarter diluted EPS from continuing operations was $0.39.

Chaibi said the company’s go-to-market strategy is strengthening customer relationships, enabling it to win larger opportunities and capture greater share of wallet. She said the company has advanced a customer-centric, relationship-driven B2B approach focused on vertical expertise and better alignment of sales, marketing and merchandising teams. She said that progress, supported by a strong balance sheet, positions Global Industrial for continued profitable growth.

At September 30, 2026, the company had total working capital of $266.2 million, cash and cash equivalents of $119.2 million, and excess availability under its credit facility of approximately $119.8 million. Operating cash flow provided by continuing operations in the quarter was $44.5 million. Cash and cash equivalents were $61.7 million at March 31, 2026, with $4.7 million of quarterly operating cash flow from continuing operations at that date.

The board declared a cash dividend of $0.28 a share and a special cash dividend of $1.00 a share to common stock shareholders of record at the close of business on November 16, 2026, payable on November 23, 2026. After the second quarter, the board had declared only the $0.28 dividend.

The company said the third quarters of 2026 and 2025 each included 13 weeks. There were 64 selling days in the U.S. in the third quarter of 2026 compared with 63 a year earlier, and 63 selling days in Canada compared with 62.

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