Global industrial reports fourth quarter and full year 2023 financial results

Fourth quarter sales of $320.1 million, up 22.9%; operating income of $21.4 million and operating margin of 6.7% full year sales of $1.27 billion, up 9.3%; operating income of $96.5 million and operating margin of 7.6% board increases dividend 25%; declares $0.25 dividend port washington, ny / accesswire / february 29, 2024 / global industrial company (nyse:gic) today announced financial results for the fourth quarter ended december 31, 2023. performance summary* (u.s. dollars in millions, except per share data) highlights quarter ended december 31, year ended december 31, 2023 2022 2023 2022 net sales $ 320.1 $ 260.5 $ 1,274.3 $ 1,166.1 gross profit $ 108.2 $ 93.8 $ 435.8 $ 421.2 gross margin 33.8 % 36.0 % 34.2 % 36.1 % operating income from continuing operations $ 21.4 $ 17.7 $ 96.5 $ 105.2 operating margin 6.7 % 6.8 % 7.6 % 9.0 % net income from continuing operations $ 15.2 $ 13.4 $ 70.7 $ 78.1 net income per diluted share from continuing operations $ 0.40 $ 0.35 $ 1.84 $ 2.04 net income from discontinued operations $ 0.1 $ 0.4 $ 0.0 $ 0.7 net income per diluted share from discontinued operations $ 0.00 $ 0.01 $ 0.00 $ 0.02 *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.
GIC Ratings Summary
GIC Quant Ranking