Global Industrial Company reported stronger sales in the second quarter while its earnings and margin totals benefited from tariff refunds.
The Long Island-based distributor — no. 18 on ID’s latest Big 50 list — reported $386.6 million in net sales between April and June, an increase of 7.7% over the same period last year and up 9.3% on a daily average basis.
Global Industrial CEO Anesa Chaibi said that the company’s sales numbers “benefited from gains in both volume and price.”
Global Industrial also reported sharp increases in gross profit, gross margin, operating income and net income in the latest quarter, but officials noted that those amounts included “a benefit of approximately $26.2 million” related to refunds of tariffs that were struck down by the U.S. Supreme Court. Excluding those refunds, gross profit would have risen much more narrowly year-over-year, while gross margin, operating margin, operating income and net income would have declined.
The company indicated that it does not expect future tariff refund amounts to be “material” to its financial results.
“We are pleased with the momentum in the business and the progress we are making in advancing our go-to-market approach,” Chaibi said in a statement. “We continue to deepen customer relationships, expand e-procurement adoption, strengthen vertical specialization, and enhance coordination across our sales, marketing, merchandising and digital teams.”
