Global Industrial Company (NYSE: GIC) announced sales for the first quarter of 2022, ending March 31, were $288.6 million, an increase of 15% compared to the prior-year period. Sales increased 14.8% on an average daily basis.
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Net income from continuing operations was $21.8 million, up from $5.5 million from the previous year.
“We delivered an exceptional first-quarter performance with record revenue and profitability, driven by strong demand and excellent execution across the business. Revenue of $288 million was a quarterly record and improved nearly 15% over the prior year, supported by strong sales trends throughout the period,” Global Industrial CEO Barry Litwin said.
Jonathan Bein, Ph.D. is Managing Partner at Distribution Strategy Group. He’s
developed customer-facing analytics approaches for customer segmentation,
customer lifecycle management, positioning and messaging, pricing and channel strategy for distributors that want to align their sales and marketing resources with how their customers want to shop and buy. If you’re ready to drive real ROI, reach out to Jonathan today at
jbein@distributionstrategy.com.