Form 8-K

8-K — GLOBAL INDUSTRIAL Co

Accession: 0001628280-26-030645

Filed: 2026-05-05

Period: 2026-05-05

CIK: 0000945114

SIC: 5084 (WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — gic-20260505.htm (Primary)

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8-K

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 5, 2026

Global Industrial Company

(Exact Name of Registrant as Specified in its Charter)

Delaware 1-13792 11-3262067

(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

11 Harbor Park Drive, Port Washington, New York

11050

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (516) 608-7000

N.A.

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions ( see General Instruction A.2 below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CRF 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

Symbol(s) Name of each exchange on which registered

Common Stock ($.01 par value) GIC New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On May 5, 2026 Global Industrial Company (the "Company") issued a press release announcing its financial results for the first quarter ended March 31, 2026 (the "Press Release"). The Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

On May 5, 2026 at 5:00 p.m. Eastern time, management will host a conference call to discuss the Company's financial results for the first quarter ended March 31, 2026.

Item 7.01 Regulation FD Disclosure

The Press Release also announced the declaration of a cash dividend of $0.28 per share payable to common stock shareholders of record at the close of business on May 18, 2026, payable on May 26, 2026.

The information furnished in Item 7.01 of this Current Report on Form 8-K including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified therein as being incorporated by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit Index

99.1

Press Release of Global Industrial Company, dated May 5, 2026.

104 Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GLOBAL INDUSTRIAL COMPANY

Date: May 5, 2026

By: /s/ Thomas Axmacher

Name: Thomas Axmacher

Title: Vice President and Controller

EX-99.1

Filename: gicform99103312026.htm · Sequence: 2

Document

Exhibit 99.1

GLOBAL INDUSTRIAL REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS

Sales Increased 9.2% to $350.4 Million

Operating Income Improved 13.2% to $20.6 Million; Operating Margin 5.9%

Board Declared $0.28 Dividend

PORT WASHINGTON, NY, May 5, 2026 – 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, 2026.

Performance Summary*

(U.S. dollars in millions, except per share data)

Highlights Quarter Ended

March 31,

2026 2025

Net sales $ 350.4 $ 321.0

Gross profit $ 121.9 $ 112.1

Gross margin 34.8 % 34.9 %

Operating income from continuing operations $ 20.6 $ 18.2

Operating margin 5.9 % 5.7 %

Net income from continuing operations $ 15.3 $ 13.5

Net income per diluted share from continuing operations $ 0.39 $ 0.35

Net income from discontinued operations $ 1.3 $ 0.1

Net income per diluted share from discontinued operations $ 0.03 $ 0.00

Global Industrial Company manages its business and reports using a 52-53 week fiscal year that ends at midnight on the Saturday closest to December 31. For clarity of presentation, fiscal years and quarters are described as if they ended on the last day of the respective calendar month. The actual fiscal quarters ended April 4, 2026 and March 29, 2025, respectively. The first quarters of both 2026 and 2025 included 13 weeks.

Average daily sales is calculated based upon the number of selling days in each period, with Canadian sales converted to U.S. dollars using the current year's average exchange rate. There were 65 selling days in the U.S. in the first quarter of 2026 compared to 64 selling days in the first quarter of 2025. There were 63 selling days in Canada in each of the first quarters of 2026 and 2025, respectively.

First Quarter 2026 Financial Summary:

•Consolidated sales increased 9.2% to $350.4 million compared to $321.0 million last year and average daily sales increased 7.6% compared to prior year.

•Consolidated gross margin decreased to 34.8% compared to 34.9% last year.

•Consolidated operating income from continuing operations increased 13.2% to $20.6 million compared to $18.2 million last year.

•Net income per diluted share from continuing operations increased 11.4% to $0.39 compared to $0.35 last year.

•Net income per diluted share from discontinuing operations increased to $0.03 compared to $0.00 last year.

Anesa Chaibi, Chief Executive Officer, said, "We delivered a strong start to 2026, driven by solid execution and continued momentum across the business. First quarter revenue increased 9.2%, with average daily sales growth of 7.6% and operating income up 13.2%. We generated growth each month during the quarter, supported by both price and volume improvement. Performance was led by our largest and most strategic accounts, while Canada delivered its third consecutive quarter of double-digit top-line growth.”

“We are making progress and are encouraged by the actions we have taken to reposition the business and refine our value proposition. This includes aligning around the customer to better serve their needs, and being more intentional in our go-to-market approach. We continue to monitor the broader macro environment and are focused on what we control – executing on our operating plan and continuing to advance the positive changes that we believe will help us evolve the business and drive long-term, profitable growth.”

At March 31, 2026, the Company had total working capital of $225.7 million, cash and cash equivalents of $61.7 million, and excess availability under its credit facility of approximately $119.9 million. Operating cash flow provided by continuing operations in the quarter was $4.7 million. During the first quarter of 2026, the Company repurchased approximately 22,000 shares of its common stock at an aggregate purchase price of $0.6 million. The Company’s Board of Directors has declared a cash dividend of $0.28 per share to common stock shareholders of record at the close of business on May 18, 2026, payable on May 26, 2026.

Earnings Conference Call Details

Global Industrial Company will host a conference call and question and answer session on its first quarter 2026 results today, May 5, 2026 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.

About Global Industrial Company

Global Industrial Company (NYSE: GIC), is a leading distributor of high-quality, industrial-strength equipment and supplies, serving organizations of all sizes across a wide range of industries. With more than 75 years of experience, customers rely on Global Industrial for its broad portfolio of national and private brands, trusted service and focus on value. We help customers keep their operations running by delivering the right products when they need them, because We Can Supply That®. Visit Globalindustrial.com, and follow us on Facebook, Instagram, and LinkedIn.

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 / Collin Dreizen

The Plunkett Group

212-739-6729

mike@theplunkettgroup.com / collin@theplunkettgroup.com

GLOBAL INDUSTRIAL COMPANY

Condensed Consolidated Statements of Operations – Unaudited

(In millions, except per share amounts)

Quarter Ended

March 31,

2026 2025

Net sales $ 350.4 $ 321.0

Cost of sales 228.5 208.9

Gross profit 121.9 112.1

Gross margin 34.8 % 34.9 %

Selling, general and administrative expenses 101.3 93.9

Operating income from continuing operations 20.6 18.2

Operating margin 5.9 % 5.7 %

Interest and other (income) expense, net (0.1) 0.1

Income from continuing operations before income taxes 20.7 18.1

Provision for income taxes 5.4 4.6

Net income from continuing operations 15.3 13.5

Net income from discontinued operations 1.3 0.1

Net income $ 16.6 $ 13.6

Net income per common share from continuing operations:

Basic $ 0.39 $ 0.35

Diluted $ 0.39 $ 0.35

Net income per common share from discontinued operations:

Basic $ 0.03 $ 0.00

Diluted $ 0.03 $ 0.00

Net income per common share:

Basic $ 0.42 $ 0.35

Diluted $ 0.42 $ 0.35

Weighted average common and common equivalent shares:

Basic 38.2 38.3

Diluted 38.3 38.4

GLOBAL INDUSTRIAL COMPANY

Condensed Consolidated Balance Sheets – Unaudited

(In millions)

March 31, December 31,

2026 2025

Current assets:

Cash and cash equivalents $ 61.7 $ 67.5

Accounts receivable, net 149.9 139.6

Inventories 177.4 174.6

Prepaid expenses and other current assets 13.7 14.8

Total current assets 402.7 396.5

Property, plant and equipment, net 18.1 18.5

Operating lease right-of-use assets 87.4 91.8

Goodwill and intangibles 63.5 64.3

Other assets 9.4 9.7

Total assets $ 581.1 $ 580.8

Current liabilities:

Accounts payable and accrued expenses $ 161.1 $ 162.4

Operating lease liabilities 15.9 16.1

Total current liabilities 177.0 178.5

Operating lease liabilities 83.3 87.5

Other liabilities 0.9 1.6

Shareholders’ equity 319.9 313.2

Total liabilities and shareholders’ equity $ 581.1 $ 580.8

GLOBAL INDUSTRIAL COMPANY

Condensed Consolidated Statements of Cash Flows - Unaudited

(In millions)

Three Months Ended

March 31,

2026 2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income from continuing operations $ 15.3 $ 13.5

Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities:

Depreciation and amortization 1.9 1.9

Stock-based compensation 1.4 1.8

Provision for deferred taxes 0.2 0.1

Change in working capital (14.5) (14.6)

Other, net 0.4 0.6

Net cash provided by operating activities from continuing operations 4.7 3.3

Net cash provided by operating activities from discontinued operations 1.7 0.1

Net cash provided by operating activities 6.4 3.4

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property, plant and equipment (0.8) (0.2)

Net cash used in investing activities (0.8) (0.2)

CASH FLOWS FROM FINANCING ACTIVITIES:

Dividends paid (10.8) (10.1)

Stock-based compensation share issuances, net 0.4 1.3

Purchase of treasury shares (0.9) 0.0

Net cash used in financing activities (11.3) (8.8)

EFFECT OF EXCHANGE RATE CHANGES ON CASH (0.1) 0.0

NET DECREASE IN CASH (5.8) (5.6)

CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 67.5 44.6

CASH AND CASH EQUIVALENTS – END OF PERIOD $ 61.7 $ 39.0

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