GDI Increases 4th-Quarter Sales 18.7%March 2, 2022
GDI’s fourth-quarter net income declined from $17 million, or $0.75 per share, one year ago to $6.9 million, or $0.30 per share. The company attributed the dip to Canada Emergency Wage Subsidies (CEWS) in 2021 compared to 2020. GDI’s U.S. janitorial division saw an 8.9% increase in sales during the fourth quarter, while its Canadian janitorial division had a 1.4% rise in sales.
“GDI performed very well in Q4 2021,” stated Claude Bigras, GDI CEO. “We experienced a resurgence in the COVID-19 pandemic with the arrival of the Omicron variant in the second half of the quarter, with our janitorial businesses continuing to perform well while our technical services business remained resilient to headwinds. Our manufacturing and distribution business was impacted again in the quarter by low demand due to low occupancy rates, however we expect the business to recover as buildings begin to reoccupy.”
GDI Services Inc. is an integrated commercial facility services provider which offers a range of services to properties throughout the United States and Canada. For more information, visit gdi.com.