From Financial Modeling Prep: 2024-10-30 08:04:45

Global Industrial Company (NYSE:GIC) reported Q3 earnings of $0.44 per share, missing the expected $0.58. Revenue also fell short at $342.4 million compared to the forecasted $356.37 million. Despite a decline in net sales and income, GIC declared a dividend of $0.25 per share.

During the earnings call, key figures discussed the financial performance. Net sales dropped from $354.6 million in 2023 to $342.4 million in 2024, while gross profit remained stable at $116.3 million. Operating income decreased from $28.2 million to $22.2 million, impacting net income per diluted share from $0.54 to $0.44.

For the nine months ending September 30, 2024, net sales increased to $1.013 billion from $954.2 million in 2023, highlighting positive growth. GIC’s financial ratios reveal a P/E ratio of around 19.30, a debt-to-equity ratio of 0.16, and a current ratio of approximately 2.02, indicating a strong ability to cover short-term liabilities.



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