Global Industrial's stock surged 6.69% in post-market trading following the release of its fourth-quarter financial results, which significantly exceeded analyst expectations.
The industrial equipment distributor reported quarterly earnings of $0.38 per share, beating the consensus estimate of $0.35 by 8.57% and representing a 40.74% increase from the same period last year. Revenue for the quarter reached $345.6 million, surpassing the $324.865 million estimate by 6.38% and marking a 14.32% year-over-year growth.
Further bolstering investor confidence, the company announced a 7.7% increase in its quarterly dividend to $0.28 per share and reported a 35.2% rise in operating income. The strong performance was attributed to volume and price improvements, alongside strategic investments in customer relationship management and service platforms as part of its shift to a more customer-centric business model.
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