Global Industrial Co.: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 5 May 2026: press release. Guidance figures: 1 kept. The quarter’s numbers.

Key takeaways

Sales rose 9.2% to $350.4 million: Net sales were $350.4 million, up from $321.0 million, with average daily sales up 7.6%. Source
Operating income rose 13.2%: Operating income from continuing operations was $20.6 million, against $18.2 million, with operating margin at 5.9% versus 5.7%. Diluted EPS from continuing operations was $0.39, against $0.35. Source
Canada grew double digits again: Canada's top-line growth was double-digit for the third consecutive quarter. The release gives no dollar figure for Canadian sales or Canadian operating results. Source
Growth in each month of quarter: Management said sales grew in each month of the quarter, with both price and volume contributing to the increase. Source
Gross margin down 0.1 point: Gross margin was 34.8% against 34.9%, while gross profit rose to $121.9 million from $112.1 million. Source
Operating cash flow was $4.7 million: Operating cash flow from continuing operations was $4.7 million, against $3.3 million a year earlier. Working capital absorbed $14.5 million in the quarter. Source
Fewer shares repurchased than fourth quarter: About 22,000 shares were repurchased for $0.6 million, against about 326,000 shares for $9.3 million in the fourth quarter of 2025. The cash flow statement shows $0.9 million of treasury share purchases. Source

“We generated growth each month during the quarter, supported by both price and volume improvement.”
Anesa Chaibi, Chief Executive Officer

Guidance

Area	Period	Figure	Against last quarter
Quarterly dividend Source	dividend payable May 26, 2026	$0.28 per share	Kept

Results and growth drivers

Sales rose 9.2% to $350.4 million: Net sales were $350.4 million, up from $321.0 million, with average daily sales up 7.6%. Source
Operating income rose 13.2%: Operating income from continuing operations was $20.6 million, against $18.2 million, with operating margin at 5.9% versus 5.7%. Diluted EPS from continuing operations was $0.39, against $0.35. Source
Discontinued operations income increased: Net income from discontinued operations was $1.3 million, or $0.03 per diluted share, against $0.1 million and $0.00 a year earlier. Total net income was $16.6 million. Source

Segments and regions

Canada grew double digits again: Canada's top-line growth was double-digit for the third consecutive quarter. The release gives no dollar figure for Canadian sales or Canadian operating results. Source
Selling days differed by market: The U.S. had 65 selling days in the quarter against 64 a year earlier. Canada had 63 selling days in both years. Source
Canadian sales converted at average rate: For average daily sales, Canadian sales are converted to U.S. dollars at the current year's average exchange rate. Source

“We are making progress and are encouraged by the actions we have taken to reposition the business and refine our value proposition.”
Anesa Chaibi, Chief Executive Officer

Customers, demand and go-to-market

Growth in each month of quarter: Management said sales grew in each month of the quarter, with both price and volume contributing to the increase. Source
Largest accounts led performance: Management attributed performance to its largest and most strategic accounts. The release does not split sales by account size. Source
Customer alignment and go-to-market approach: Management said the company is aligning around the customer to meet their needs and taking a more intentional go-to-market approach. Source

Costs and margins

Gross margin down 0.1 point: Gross margin was 34.8% against 34.9%, while gross profit rose to $121.9 million from $112.1 million. Source
SG&A rose $7.4 million: Selling, general and administrative expenses were $101.3 million against $93.9 million, up $7.4 million. The release gives no explanation of the increase. Source
Income tax provision increased: The provision for income taxes was $5.4 million against $4.6 million. Income from continuing operations before taxes was $20.7 million. Source

“This includes aligning around the customer to better serve their needs, and being more intentional in our go-to-market approach.”
Anesa Chaibi, Chief Executive Officer

Cash, working capital and balance sheet

Operating cash flow was $4.7 million: Operating cash flow from continuing operations was $4.7 million, against $3.3 million a year earlier. Working capital absorbed $14.5 million in the quarter. Source
Receivables and inventory increased: Accounts receivable rose to $149.9 million from $139.6 million at year end, and inventories to $177.4 million from $174.6 million. Cash fell to $61.7 million from $67.5 million. Source
Working capital and credit availability: Total working capital was $225.7 million at March 31, 2026, and excess availability under the credit facility was about $119.9 million. Source

Capital returns to shareholders

Dividends paid rose to $10.8 million: Dividends paid were $10.8 million, against $10.1 million a year earlier. The Board declared $0.28 per share for the quarter. Source
Fewer shares repurchased than fourth quarter: About 22,000 shares were repurchased for $0.6 million, against about 326,000 shares for $9.3 million in the fourth quarter of 2025. The cash flow statement shows $0.9 million of treasury share purchases. Source
Diluted share count little changed: Diluted weighted average shares were 38.3 million, against 38.4 million a year earlier. Source

Strategy and macro environment

Repositioning and value proposition actions: Management said it has taken actions to reposition the business and refine its value proposition. The release lists no specific actions. Source
Macro environment monitored: Management said it continues to monitor the broader macro environment. The release gives no further detail on macro effects. Source
Operating plan execution emphasized: Management said it is focused on executing its operating plan and on advancing changes it believes will help the business evolve. Source

Coming up, as management said on 5 May 2026

Dividend payment date: The $0.28 per share dividend is payable May 26, 2026 to holders of record at the close of business on May 18, 2026. Source

Figures management reported

Figure	Reported
Average daily sales growth Source	7.6%

Risks management discussed

External: Management said it continues to monitor the broader macro environment and is focused on what it controls. Source

Earlier plans management reported on

Not stated: Management referred to its operating plan and to changes it believes will evolve the business, without giving a status. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

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 notice

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

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