Global Industrial: Sales Up Overall Despite Down 4Q - Modern Distribution Management

Log In

Global Industrial: Sales Up Overall Despite Down 4Q

Consolidated sales in 2021’s 4Q decreased 4.3% compared to the prior year, but overall annual sales were up 3.3%.
Global Industrial 2022 1q sales
Author
Date

Global Industrial Company (NYSE:GIC) of Port Washington, New York, reported consolidated sales in the fourth quarter of 2021 decreased 4.3% to $262 million compared to 2020, but overall annual sales increased 3.3% to $1.06 billion.

The 4Q of 2021 had 61 selling days, five fewer days than the same quarter in 2020. Sales increased 3.5% on an average daily sales basis. Consolidated operating income grew 23.7% to $26.1 million compared to $21.1 million in 2020, the company said.

Net income per diluted share from continuing operations increased 26.2% to $0.53 compared to $0.42 in 2020.

For the year, sales increased 5% on an average daily sales basis. Consolidated operating income increased 4.6% to $88.0 million compared to $84.1 million in 2020.

Net income per diluted share from continuing operations increased 9.5% to $1.84 compared to $1.68 last year, the company said.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.