Global Industrial Company — Third Quarter 2026 Earnings Summary

Financial Performance:

• Consolidated net sales increased 10.2% to $389.5 million for the quarter ended September 30, 2026, compared to $353.6 million in the prior year period; average daily sales increased 8.5%.
• Year-to-date net sales increased 9.0% to $1,126.5 million compared to $1,033.5 million for the nine months ended September 30, 2025.
• Consolidated gross margin was 35.7% for the quarter, up from 35.6% in the prior year, benefiting from approximately 60 basis points in tariff refunds.
• Year-to-date gross margin was 36.9%, up from 35.9%, benefiting from approximately 200 basis points in tariff refunds.
• Operating income from continuing operations increased 24.3% to $32.7 million for the quarter (vs. $26.3 million), with operating margin at 8.4% (vs. 7.4%); operating income benefited by approximately $2.0 million from tariff refunds.
• Year-to-date operating income from continuing operations increased 31.5% to $102.6 million (vs. $78.0 million), with operating margin at 9.1% (vs. 7.5%); operating income benefited by approximately $23.1 million from tariff refunds.
• Net income per diluted share from continuing operations increased 33.3% to $0.64 for the quarter (vs. $0.48), benefiting by approximately $0.04 from tariff refunds.
• Year-to-date net income per diluted share from continuing operations increased 35.1% to $2.00 (vs. $1.48), benefiting by approximately $0.46 from tariff refunds.
• Net income from continuing operations was $24.5 million for the quarter and $76.9 million year-to-date.
• Operating cash flow provided by continuing operations in the quarter was $44.5 million.
• Cash and cash equivalents were $119.2 million as of September 30, 2026, compared to $67.5 million as of December 31, 2025.
• Total working capital was $266.2 million as of September 30, 2026.
• Excess availability under the credit facility was approximately $119.8 million as of September 30, 2026.
• Inventories decreased to $153.1 million as of September 30, 2026, from $174.6 million as of December 31, 2025.

Business Segments and Product Lines:

• Revenue growth was led by industrial and retail customer verticals.
• The company reported strong double-digit performance among its largest strategic accounts.
• The company continues to advance a customer-centric, relationship-driven B2B approach focusing on vertical expertise and alignment of sales, marketing, and merchandising teams.

Management Commentary and Tone:

• CEO Anesa Chaibi stated that sustained sales momentum, improved profitability, and execution of the go-to-market strategy drove another strong quarter.
• Management highlighted the fourth consecutive quarter of high-single digit average daily sales growth (8.5%).
• Management expressed confidence that their progress, supported by a strong balance sheet, positions the company for continued profitable growth and long-term value creation.

Other Key Points:

• The Board of Directors declared a cash dividend of $0.28 per share and a special cash dividend of $1.00 per share.
• The dividends are payable to common stock shareholders of record at the close of business on November 16, 2026, and will be paid on November 23, 2026.
• Net cash used in investing activities for the nine months ended September 30, 2026, was $2.7 million, primarily for purchases of property, plant, and equipment.
• Net cash used in financing activities for the nine months ended September 30, 2026, was $37.5 million, including $32.3 million in dividends paid and $5.6 million in purchases of treasury shares.
• The company operates on a 52-53 week fiscal year ending on the Saturday closest to December 31; the third quarter of 2026 included 13 weeks.