PORT WASHINGTON, NY, April 29, 2025 – Global Industrial Company (NYSE: GIC), a value-added distributor and source for industrial equipment and supplies today announced financial results for the first quarter ended March 31, 2025.

•Consolidated sales decreased 0.7% to $321.0 million compared to $323.4 million last year.

•Consolidated gross margin increased to 34.9% compared to 34.3% last year.

•Consolidated operating income from continuing operations increased 4.6% to $18.2 million compared to $17.4 million last year.

•Net income per diluted share from continuing operations increased 2.9% to $0.35 compared to $0.34 last year.

Anesa Chaibi, Chief Executive Officer, said, "In the first quarter we generated revenue of $321 million, a decline of less than one percent from the year ago period. This performance was significant given the soft start in January, which was impacted by the mid-week timing of the New Year’s holiday. Excluding the holiday impact, revenue would have been up low single digits in the quarter. Results were led by Indoff and our largest strategic accounts. Performance improved as we moved through the period and we ended the quarter with growth in March. Gross margin increased 60 basis points over the first quarter of 2024; and with strong cost controls, operating income improved 4.6%. These results reflect good execution across the business and I’m very proud of the team."

"Global Industrial has an exceptional platform and the ability to scale the business organically. We bring significant value to the market though the delivery of a frictionless end-to-end customer experience, industry expertise and a broad product offering. I believe we can accelerate our success going forward, by broadening whom we serve, expanding existing account relationships and accelerating our growth initiatives. With a customer-centric culture and strong balance sheet, we are well-positioned to support and strengthen customer relationships."

"The tariffs enacted in April have created a disruption not only in our business, but also to the entire supply chain and our customers. As we look to mitigate their impact, our focus is on what we control. We are working closely with manufacturing and vendor partners, ensuring product availability, and providing customers with as much visibility as we can in a very fluid environment."

At March 31, 2025, the Company had total working capital of $192.5 million, cash and cash equivalents of $39.0 million, and excess availability under its credit facility of approximately $120.5 million. Operating cash flow provided by continuing operations in the quarter was $3.3 million. The Company’s Board of Directors has declared a cash dividend of $0.26 per share to common stock shareholders of record at the close of business on May 12, 2025, payable on May 19, 2025. 

Global Industrial Company will host a conference call and question and answer session on its first quarter 2025 results today, April 29, 2025 at 5:00 p.m. Eastern Time. A live webcast of the call will be available on the Company’s website at https://investors.globalindustrial.com in the events section. The webcast will also be archived on the website for approximately 90 days.

Global Industrial Company (NYSE: GIC), through its operating subsidiaries, is a value-added distributor and source for industrial equipment and supplies. Leveraging over 75 years of experience, Global Industrial specializes in providing MRO solutions to businesses ranging from small to enterprise, and to the public sector. Global Industrial is committed to its customer-centric strategy and uses industry expertise, products from its Global Industrial Exclusive BrandsTM, and nationally known brands to provide customers with a breadth of offerings to meet their needs. At Global Industrial, "We Can Supply That®".

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Additional written or oral forward-looking statements may be made by the Company from time to time in filings with the Securities and Exchange Commission or otherwise. Any such statements that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management's estimates, assumptions and projections and are not guarantees of future performance. When used in this release, the words "anticipates," "believes," "estimates," "expects," "intends," and "plans" and variations thereof and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this report are based on the Company’s beliefs and expectations as of the date of this report and are subject to risks and uncertainties which may have a significant impact on the Company’s business, operating results or financial condition. Investors are cautioned that these forward-looking statements are inherently uncertain and undue reliance should not be placed on them. Important risk factors that may affect our future results of operations and financial condition are detailed from time to time in our Securities and Exchange Commission filings. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected events, except as may be required by applicable law.

Investor/Media Contacts: Mike Smargiassi The Plunkett Group 212-739-6729 mike@theplunkettgroup.com (In millions, except per share amounts)