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Global Industrial Reports Fourth Quarter and Full Year 2024 Financial Results

1. Q4 profits declined; dividend increased to $0.26 signaling mixed performance. 2. Full-year sales grew; margins compressed, raising operational concerns for GIC.

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FAQ

Why Neutral?

GIC's mixed results—with sales growth and a raised dividend countered by margin and operating income declines—suggest neither a strong boost nor a sharp decline. Historically, dividend hikes have calmed investors even when earnings disappoint, resulting in modest price adjustments.

How important is it?

The results and dividend raise are significant for investor sentiment; however, margin compression and lower operating income moderate the overall impact on GIC's price.

Why Short Term?

Investor reactions to quarterly earnings and dividend announcements are typically immediate, as seen in similar industrial stocks, although long-term fundamentals remain under review.

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GWWITW
Fourth Quarter Sales of $302.3 Million; Operating Income of $14.5 Million and Operating Margin of 4.8% Full Year Sales of $1.3 Billion; Operating Income of $80.5 Million and Operating Margin of 6.1% Board Increases Dividend to $0.26 PORT WASHINGTON, NY / ACCESS Newswire / February 25, 2025 / Global Industrial Company (NYSE:GIC), a value-added national distributor of industrial equipment and supplies, today announced financial results for the fourth quarter ended December 31, 2024. Performance Summary* (U.S. dollars in millions, except per share data) Highlights Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net sales $ 302.3 $ 320.1 $ 1,315.9 $ 1,274.3 Gross profit $ 102.3 $ 108.2 $ 452.0 $ 435.8 Gross margin 33.8 % 33.8 % 34.3 % 34.2 % Operating income from continuing operations $ 14.5 $ 21.4 $ 80.5 $ 96.5 Operating margin 4.8 % 6.7 % 6.1 % 7.6 % Net income from continuing operations $ 10.6 $ 15.2 $ 60.7 $ 70.7 Net income per diluted share from continuing operations $ 0.27 $ 0.40 $ 1.57 $ 1.84 Net income from discontinued operations $ 0.1 $ 0.1 $ 0.3 $ 0.0 Net income per diluted share from discontinued operations $ 0.00 $ 0.00 $ 0.01 $ 0.00 * Global Industrial Company manages its business and reports using a 52-53 week fiscal year that ends at midnight on the Saturday closest to December 31.

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