Global Industrial Co
NYSE:GIC
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Global Industrial Co
NYSE:GIC
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Global Industrial Co
Global Industrial Co. engages in direct marketing of brand name and private label industrial and business equipment and supplies. The company is headquartered in Port Washington, New York and currently employs 1,480 full-time employees. The firm offers approximately one million industrial and maintenance, repair, and operations (MRO) products, including its own Global Industrial brands, which are marketed in North America. Its products categories includes storage and shelving, safety and security, carts and trucks, heating, ventilation, air conditioning (HVAC) and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials. Its private brands include Global, GlobalIndustrial.com, Nexel Paramount and Interion.
Global Industrial Co. engages in direct marketing of brand name and private label industrial and business equipment and supplies. The company is headquartered in Port Washington, New York and currently employs 1,480 full-time employees. The firm offers approximately one million industrial and maintenance, repair, and operations (MRO) products, including its own Global Industrial brands, which are marketed in North America. Its products categories includes storage and shelving, safety and security, carts and trucks, heating, ventilation, air conditioning (HVAC) and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials. Its private brands include Global, GlobalIndustrial.com, Nexel Paramount and Interion.
Strong Revenue Growth: Global Industrial delivered Q4 revenue of $345.6 million, up 14.3% year-over-year, and full-year revenue of $1.38 billion, growing 4.8%.
Margin Expansion: Q4 gross margin improved to 34.5%, up 70 basis points from last year.
Sales Momentum: Average daily sales increased 7.4% in Q4, benefiting from both price and volume, with growth consistent throughout the quarter.
Strategic Pivot: The company is moving away from transactional customers to focus on strategic enterprise accounts and group buying organizations, which now make up over 20% of volume.
Dividend Increase & Buybacks: Quarterly dividend raised to $0.28 per share for the 11th consecutive year, and 326,000 shares repurchased in Q4.
Cost Control: SG&A improved as a percentage of sales, despite an increase in absolute dollars due to higher variable compensation and an extra week in the quarter.
Solid Balance Sheet: Ended the year with $67.5 million in cash, no debt, and $120 million of credit availability.
