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Nov 29, 2023

Decreased selling prices impact Taiga sales

Taiga Building Products Ltd. had sales of $456.6 million for the third quarter of 2023, a decrease of 14 percent compared to sales of $533.1 million in the third quarter of 2022. The decrease was largely due to decreased selling prices for commodity products. Gross margin for the third quarter was $56.4 million, down from $63.8 million in the year-ago period. The decrease in gross margin was primarily due to lower commodity prices during the quarter. The company had net earnings of $21.4 million compared to $18.6 million in the prior-year period and EBITDA was $27.6 million compared to $29.8 million last year. The decreased in EBITDA was primarily due to lower margins earned during the quarter.

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