Material pricing affects Doman revenues

Doman Building Materials Group Ltd. had consolidated revenues of $2.5 billion for 2023, a decrease compared to consolidated revenues of $3 billion in 2022. The company says the decrease was largely due to the impact of lower construction materials pricing, which resulted in lower average pricing for lumber, plywood, and OSB. The company’s sales by product group in the period were made up of 74 percent construction materials, compared to 76 percent last year, with the remaining balance resulting from specialty and allied products of 22 percent, and forestry and other sources of four percent. Gross margin was $402.7 million in 2023, versus $408.8 million in 2022. Gross margin percentage was 16.2 percent during the year, an increase from the 13.5 percent achieved in 2022, largely due to reduced volatility in construction materials pricing. The company had EBITDA of $196.1 million, compared to $203.2 million in 2022.