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Global Industrial (GIC) Misses Q3 Earnings and Revenue Estimates
GICSystemax(GIC) ZACKS·2024-10-29 23:01

Core Viewpoint - Global Industrial (GIC) reported quarterly earnings of 0.44pershare,missingtheZacksConsensusEstimateof0.44 per share, missing the Zacks Consensus Estimate of 0.58 per share, representing a year-over-year decrease from 0.54pershare[1][2]FinancialPerformance−Thecompanypostedrevenuesof0.54 per share [1][2] Financial Performance - The company posted revenues of 342.4 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.12% and down from 354.6millionayearago[2]−Overthelastfourquarters,GlobalIndustrialhasnotsurpassedconsensusEPSestimatesandhastoppedconsensusrevenueestimatesonlytwice[2]StockPerformance−GlobalIndustrialshareshavedeclinedapproximately14.3354.6 million a year ago [2] - Over the last four quarters, Global Industrial has not surpassed consensus EPS estimates and has topped consensus revenue estimates only twice [2] Stock Performance - Global Industrial shares have declined approximately 14.3% since the beginning of the year, contrasting with the S&P 500's gain of 22.1% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 0.43 on revenues of 325.12million,andforthecurrentfiscalyear,itis325.12 million, and for the current fiscal year, it is 1.94 on revenues of $1.35 billion [7] - The trend for estimate revisions ahead of the earnings release was unfavorable, which may impact future stock performance [6] Industry Context - The Industrial Services sector, to which Global Industrial belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, suggesting potential challenges ahead [8]