Oct. 19, 2022
Strong Demand Impacts Goodfellow Sales
Goodfellow Inc. had net earnings of $10.6 million for the third quarter of 2022, up from net earnings of $10 million in the third quarter of 2021. Consolidated sales for the quarter were $167.6 million compared to $168 million in the prior-year period. The company says third quarter results were characteristic for this period where seasonal demand is historically strong, which was unexpected given current inflationary pressures. Attention paid to overhead expenses helped maintain margin levels as cost of goods increased.