Port Washington, NY-based industrial and commercial supplies distributor Global Industrial Company reported Nov. 3 that third-quarter sales increased 10.2% year-over-year to $389.5 million.

Sequentially, sales increased 0.8% from 2Q’s $386.6 million. Average daily sales rose 8.5% year-over-year, compared with 9.3% growth in 2Q, when total sales increased 7.7%.

Operating income from continuing operations increased 24.3% year-over-year to $32.7 million, with operating margin expanding to 8.4% from 7.4%. Net income from continuing operations increased 30.3% to $24.5 million.

Tariff refunds contributed approximately $2 million to third-quarter operating income and 60 basis points to gross margin. Reported gross margin reached 35.7%, compared with 35.6% a year earlier.

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Sequentially, reported operating income declined 33.7% from $49.3 million, while operating margin fell from 12.8%. Those comparisons reflect a substantially larger tariff-refund benefit in 2Q.

During 2Q, Global recorded $26.2 million associated with refunds of tariffs imposed under the International Emergency Economic Powers Act. That included $21.1 million that reduced cost of sales, $4 million that reduced the cost of inventory not yet sold and $1.1 million in interest income.

Excluding the refund benefit, 2Q operating income was $28.2 million, operating margin was 7.3% and gross margin was 34.7%.

Subtracting the disclosed third-quarter refund benefit puts 3Q operating income at approximately $30.7 million — up 8.9% sequentially and 16.7% year-over-year.

“Sustained sales momentum, improved profitability and continued execution of our go-to-market strategy drove another strong quarter for Global Industrial,” CEO Anesa Chaibi said in a news release