Global Industrial Company (NYSE:GIC) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET

Company Participants

Mike Smargiassi - Investor Relations

Barry Litwin - Chief Executive Officer

Tex Clark - Senior Vice President and Chief Financial Officer

Conference Call Participants

Ryan Merkel - William Blair

Anthony Lebiedzinski - Sidoti & Company

Operator

Good day and welcome to the Global Industrial Company Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Now I’d now like to turn the conference over to Mike Smargiassi, Investor Relations. Please go ahead.

Mike Smargiassi

Thank you and welcome to the Global Industrial second quarter 2023 earnings call. Leading today’s call will be Barry Litwin, Chief Executive Officer; and Tex Clark, Senior Vice President and Chief Financial Officer. Formal remarks will be followed by a question-and-answer session.

Today’s discussion may include certain forward-looking statements. It should be understood that actual results could differ materially from those projected due to a number of factors, including those described under the forward-looking statements caption and under Risk Factors in the company’s annual report on Form 10-K and quarterly reports on Form 10-Q. The press release is available on the company’s website and has been filed with the SEC on a Form 8-K. This call is the property of Global Industrial Company.

I will now turn the call over to Barry Litwin.

Barry Litwin

Thanks Mike. Good afternoon, everyone and thank you for joining us. Overall, we had a very productive second quarter as we continued to execute on our strategy and made further investments in growth initiatives. The big news in the second quarter was the addition of Indoff to the Global Industrial family in late May. Indoff is an exceptional, strategic and cultural fit with our business. It diversifies our operations, broadens our reach to new customers and markets, strengthens our one-to-one selling approach, and provides core product alignment, specifically within material handling, indoor and outdoor furniture and storage and shelving. In addition, it delivers new capabilities in project management and engineering that strengthen our value proposition.

I have been very impressed with the Indoff team. The level of expertise they bring to the table really expands our skill set and the depth and tenure of their customer relationships is impressive. We have made good progress on operational enhancements in sales, customer service and logistics as well as general coordination and support between the two businesses. We are excited by the addition of Indoff and are on track to drive our combined success.