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Global Industrial Company (GIC)
NYSE:GIC
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Earnings Data
Report Date
Mar 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.31Last Year’s EPS
$0.4Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -23.10%
|Next Earnings Date:Mar 04, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a challenging macro environment with weak demand and revenue decline, offset by strategic growth initiatives and a strong liquidity position. While there are positive developments, such as improvements in gross margin and strategic account growth, the overall sentiment is tempered by significant cost pressures and revenue declines.Company Guidance
During the Global Industrial Company's Q3 2024 earnings call, the executives provided guidance amidst a challenging macro environment, with a focus on long-term growth strategies. The company reported third-quarter revenue of $342.4 million, down 3.4% compared to the same period last year, and a gross margin of 34%. Despite the decline in revenue, they emphasized strong customer satisfaction and retention rates. The executives discussed ongoing investments, including a new CRM platform, Salesforce, to enhance customer experience and operational efficiencies. They highlighted the importance of focusing on core customer segments and adjusting marketing strategies to improve customer engagement and value proposition communication. Operating income for the quarter was $22.2 million, with a 6.5% operating margin, and the company maintained a strong balance sheet with $38.9 million in cash and no debt. The guidance included continued investment in growth initiatives while managing costs, with capital expenditures expected to be between $3 million and $5 million for 2024.Strategic Account Business Growth
The strategic account business continues to perform well, delivering solid growth despite the overall weak demand environment.
Improved Gross Margin
Gross margin improved to 34% in the third quarter, up 120 basis points year-over-year due to proactive price management.
Introduction of Salesforce CRM
The phased rollout of Salesforce CRM began in the third quarter, expected to strengthen customer experience and operational efficiencies.
Cash and Liquidity Position
As of September 30, Global Industrial had $38.9 million in cash, no debt, and approximately $121 million of excess availability under its credit facility.
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GIC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $32.77 | $26.02 | -20.60% |
| Jul 30, 2024 | $35.21 | $34.31 | -2.56% |
| Apr 30, 2024 | $37.62 | $33.72 | -10.37% |
| Feb 29, 2024 | $42.59 | $41.00 | -3.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Global Industrial Company (GIC) report earnings?
Global Industrial Company (GIC) is schdueled to report earning on Mar 04, 2025, TBA Not Confirmed.
What is Global Industrial Company (GIC) earnings time?
Global Industrial Company (GIC) earnings time is at Mar 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GIC EPS forecast?
GIC EPS forecast for the fiscal quarter 2024 (Q4) is $0.31.
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