Global Industrial Company of Port Washington, NY announced financial results for the third quarter, including a sales increase of 10.2% over the previous year’s quarter.
The value-added distributor and source for industrial equipment and supplies also reported an increase in its net income per diluted share from continuing operations of 33.3% (to $0.64, compared to $0.48 last year). About $0.04 of this was attributable to tariff refunds, according to the company.
These results represent a continuation of consistent sales for Global Industrial. According to CEO Anesa Chaibi, the company “delivered our fourth consecutive quarter of high-single digit average daily sales growth, up 8.5%.”
Chaibi added that revenue growth was driven by industrial and retail customer verticals as well as “strong double-digit performance among our largest strategic accounts.”
Global’s year–to-date sales increased 9.0% to $1.13 billion, compared to $1.03 billion last year.
“Our go-to-market strategy is strengthening customer relationships, enabling us to win larger opportunities and to capture greater share of wallet,” said Chaibi. “Over the past year, we have continued to advance our customer centric, relationship-driven B2B approach, with a focus on developing a deeper understanding of our customers, enhancing our vertical expertise and better aligning our sales, marketing and merchandising teams. We believe this progress, supported by our strong balance sheet, positions Global Industrial for continued profitable growth and long-term value creation.”
