Aug. 11, 2022
Cooling Demand Impacts Doman Revenues
Doman Building Materials Group Ltd. had consolidated revenue of $870.7 million for the second quarter of 2022, an increase of 15 per cent compared to consolidated revenue of $756.8 million for the second quarter of 2021. The increase was partially due to contributions from the company’s 2021 acquisitions. Sales by product group in the quarter were made up of 77 per cent construction materials, 20 per cent specialty and allied products, and three per cent other. Gross margin dollars decreased to $102.7 million, compared to $131.2 million in the year-ago period. Revenues were negatively impacted by underlying construction material pricing trends and cooled consumer demand which resulted in downward pressure on pricing.