Decreased selling prices contract Taiga earnings

Taiga Building Products Ltd. had net sales of $408.5 million for the first quarter of 2023, a decrease of 33% over net sales of $612.7 million in the first quarter of 2022. The decrease was largely due to decreased selling prices for commodity products. Gross margin for the quarter was $47.1 million, down from $108.9 million in the year-ago period. Net earnings were $13.5 million compared to $39.5 million in the year-ago period, and earnings before interest and taxes were $22.5 million compared to $58.6 million last year.