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Sep 30, 2022
Global Industrial Q3 2022 Earnings Report
Global Industrial Company's third quarter revenue reached nearly $300 million, with a sales increase of 7.6% and operating income of $27.5 million.
Key Takeaways
Global Industrial Company reported a 7.6% increase in sales, reaching $298.5 million. While gross margin declined slightly, the company saw growth in its private brand offering and managed sales channel, improved its inventory position, and generated strong cash flow from operations.
Consolidated sales increased 7.6% to $298.5 million compared to last year.
Consolidated gross margin declined to 35.7% compared to 36.8% last year.
Consolidated operating income from continuing operations decreased 10.1% to $27.5 million compared to last year.
Net income per diluted share from continuing operations decreased 13.1% to $0.53 compared to last year.
Forward Guidance
While the broader market outlook remains one of caution, Global Industrial is investing in growth and productivity initiatives and proactively managing the business to adapt to changing market conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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