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Latest In Global Industrial
Excluding Global's $69 million acquisition of Indoff that closed in May, 2Q sales were down 5.2% year-over-year.
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Global Industrial says the acquisition expands the industrial distributor’s one-to-one sales reach to new customers and markets.
The company reported 1Q 2023 gross profit of $98.4 million, down from the $107.8 million reported during the same quarter in 2022.
The company said 4Q sales were $260.5 million — down 0.6% from the same quarter in 2021 — while total-year sales increased 9.7%.
The new DC significantly expands the company'sfootprint in Canada, while its margin and profit dipped in 3Q despite higher sales.
The report provides an overview of the company's commitment to environmental, sustainability and governance initiatives.
Major distributors and manufacturers continue to raise their full-year outlook after better-than-expected 2Q results and persistent demand.
As evidenced by the latest round of quarterly earnings reports, some industrial distributors and manufacturers still see year-to-year growth.
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MDM CEO Tom Gale recounts what he learned at Global Industrial's recent expo in New Orleans, which included an exclusive interview with CEO Barry Litwin.
The company’s 2022 first-quarter results included ‘record’ sales of $288.6 million.
MDM this year has hosted an array of guests from across the distribution industry, and many of them have reflected similar outlooks: Challenges may persist, but companies are eyeing realistic paths to growth.
In the MDM Podcast this week, Global Industrial CEO Barry Litwin discussed the company’s 2021 financial performance, as well as the strategic initiatives it is undertaking to continue a transformation process.
Consolidated sales in 2021’s 4Q decreased 4.3% compared to the prior year, but overall annual sales were up 3.3%.
The distributor of industrial products and MRO supplies says it reached an agreement with OMNIA Partners to serve the public sector.
The MRO distributor has appointed Adina Storch to the role of senior vice president, general counsel and corporate secretary.
Third-quarter sales were $277.4 million and net income was $23.2 million, both down from 2020 3Q, but 9-month earnings are ahead of last year.
Industrial and MRO distributor brings on merchandising, product development and sourcing veteran.
