Global Industrial Q3 sales rise 10% on industrial, retail customers
GIC•Global Industrial's third-quarter sales rose 10% year over year to $389.5 million, slightly below the $391.11 million consensus. Diluted EPS from continuing operations increased 33%, and the company declared a $0.28 dividend and a $1.00 special dividend.
1. Quarterly results
Global Industrial said third-quarter sales increased 10% year over year to $389.5 million, slightly below analyst expectations of $391.11 million. Gross margin was 35.7%, and operating margin was 8.4%.
2. Growth drivers and dividends
The company said sales growth was driven by industrial and retail customers and strategic accounts. Gross margin and operating income benefited from tariff refunds, and the company declared a $0.28 dividend and a $1.00 special dividend. It did not provide specific financial guidance for upcoming quarters or the full year.
