Taiga Q1 Results - Higher commodity prices drive sales growth by 13% | Taiga Building Products

Taiga Q1 Results - Higher commodity prices drive sales growth by 13%

BURNABY, BC, May 4th, 2018 - Taiga Building Products Ltd. (“Taiga” or the “Company”) today reported its financial results for the three months ended March 31, 2018.

First Quarter Ended March 31, 2018 Earnings Results

Sales for the first quarter increased to $324.6 million from $286.1 million over the same quarter last year.  The increase in sales by $38.5 million or 13% was largely due to higher selling prices for commodity products.

Gross margin dollars for the first quarter increased to $30.8 million compared to $24.2 million in the same quarter last year.  The increase in gross margin was primarily due to higher commodity prices in current quarter compared to the same quarter last year.

Taiga’s net earnings for the quarter ended March 31, 2018 increased to $6.8 million from $0.2 million over the same period last year.

EBITDA for the quarter ended March 31, 2018 was $11.5 million compared to $7.8 million for the same period last year.  

See attached PDF for complete press release and statement of earnings.

For further information:

Mark Schneidereit-Hsu, CFO and VP, Finance & Administration, Tel: 604.438.1471, Email: mschneidereit@taigabuilding.com

Posting date: 
Vendredi, mai 4, 2018

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