Global Industrial (NYSE:GIC) Reports Sales Below Analyst Estimates In Q3 Earnings, Stock Drops 14.6%

Global Industrial's Q3 results fell short of Wall Street's expectations, with revenue up 3% to $353.6M but missing estimates by $3.4M. Earnings per share dropped 14% to $0.48, and while adjusted EBITDA beat estimates by 6%, long-term growth remains a concern. Sales growth has averaged 6.5% over the past five years, slowing to 4.9% over the last two, and analysts predict modest 5.8% growth over the next year. Investors are cautious, awaiting a growth catalyst.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.