Nov 9, 2022
Pricing Helps Doman Revenues
Doman Building Materials Group Ltd. had consolidated revenues of $744.1 million for the third quarter of 2022, a 19 per cent increase over consolidated revenues of $625.3 million in the third quarter of 2021. The increase was largely due to the impact of construction materials pricing, which remained relatively consistent throughout the quarter, compared with sharp pricing declines during the prior year quarter. Gross margin dollars increased to $91.5 million, compared to $80.7 million in 2021. Gross margin percentage was 12.3 per cent, representing a slight decrease from the 12.9 per cent achieved in the same quarter of 2021. Earnings before taxes were $40 million, up from $33.2 million in the year-ago period and net earnings were $11.6 million versus $7.7 million.
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