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Nov 16, 2023

Taiga Q3 sales slide

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

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