Global Industrial Company (NYSE: GIC), Port Washington, N.Y., national distributor of industrial products and MRO supplies, reported sales for the third quarter ended Sept. 30, 2024, were $342.4 million, a decrease of 3.4% from the prior-year period.
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Profit for the quarter was $16.8 million.
Sales for the nine months ended Sept. 30, 2024, were $1.01 billion, up 6.2% from the prior year’s mark of $954.2 million. Profit was $50.1 million.
“Third-quarter results reflect a weak demand environment and continued softness in our core small and medium business customer base,” said Richard Leeds, Global Industrial’s interim CEO. “Our strategic account business delivered another quarter of strong growth and customer retention rates remain healthy.”
Global Industrial has five distribution centers totaling more than 2.5 million square feet across the U.S.
