TAIGA (TBL) ANNOUNCES LOWER SALES FROM LOWER COMMODITY PRICES
Canada NewsWire
BURNABY, BC, Aug. 7, 2026
BURNABY, BC, Aug. 7, 2026 /CNW/ -- Taiga Building Products Ltd. ("Taiga" or the "Company") today reported its financial results for the three and six months ended June 30, 2026 and 2025.
Second Quarter Ended June 30, 2026 Earnings Results
The Company's consolidated net sales for the quarter ended June 30, 2026 were $426.6 million compared to $441.0 million over the same period last year. The decrease in sales of $14.4 million or 3% was largely due to a lower average pricing as well as product mix over the quarter.
Gross margin for the quarter ended June 30, 2026 increased to $50.2 million compared to $49.2 million over the same period last year. Gross margin percentage was 11.8% for the three months ended June 30, 2026 compared to 11.2% over the same period last year due to the strong performance of the Company's US division.
Net earnings for the quarter ended June 30, 2026 increased to $16.1 million from $15.1 million over the same period last year, primarily due to increased gross margin dollars and lower selling and administration expenses.
EBITDA for the quarter ended June 30, 2026 was $25.3 million compared to $23.5 million for the same period last year.
Six Months Ended June 30, 2026 Earnings Results
The Company's consolidated net sales for the six months ended June 30, 2026 were $775.8 million compared to $840.9 million over the same period last year. The decrease in sales of $65.1 million or 8% was largely due to a lower average pricing as well as product mix.
Gross margin for the six months ended June 30, 2026 increased to $87.7 million from $86.7 million over the same period last year.
Net earnings for the six months ended June 30, 2026 increased to $25.1 million from $24.9 million over the same period last year, primarily due to increased gross margin dollars.
EBITDA for the six months ended June 30, 2026 was $42.3 million compared to $40.3 million for the same period last year.
Condensed Consolidated Statement of Earnings
For the Three Months Ended
June 30, | ||
(in thousands of Canadian dollars, except for per share amounts) | 2026 | 2025 |
Sales | 426,580 | 440,971 |
Gross margin | 50,225 | 49,232 |
Distribution expense | 8,413 | 7,755 |
Selling and administration expense | 19,901 | 21,419 |
Finance expense | 1,870 | 751 |
Other income | (30) | (175) |
Earnings before income taxes | 20,071 | 19,482 |
Income tax expense | 3,971 | 4,408 |
Net earnings | 16,100 | 15,074 |
Net earnings per share(1) | 0.15 | 0.14 |
EBITDA(2) | 25,253 | 23,540 |
The following is the reconciliation of net earnings to EBITDA:
June 30, | ||
(in thousands of Canadian dollars) | 2026 | 2025 |
Net earnings | 16,100 | 15,073 |
Income tax expense | 3,971 | 4,408 |
Finance and subordinated debt interest expense | 1,870 | 750 |
Amortization | 3,312 | 3,309 |
EBITDA | 25,253 | 23,540 |
For the Six Months Ended
June 30, | ||
(in thousands of Canadian dollars, except for per share amounts) | 2026 | 2025 |
Sales | 775,774 | 840,908 |
Gross margin | 87,744 | 86,719 |
Distribution expense | 16,535 | 16,197 |
Selling and administration expense | 35,317 | 37,048 |
Finance expense | 2,985 | 965 |
Other income | (65) | (205) |
Earnings before income taxes | 32,972 | 32,714 |
Income tax expense | 7,900 | 7,818 |
Net earnings | 25,072 | 24,896 |
Net earnings per share(1) | 0.23 | 0.23 |
EBITDA(2) | 42,316 | 40,271 |
The following is the reconciliation of net earnings to EBITDA:
June 30, | ||
(in thousands of Canadian dollars) | 2026 | 2025 |
Net earnings | 25,072 | 24,895 |
Income tax expense | 7,900 | 7,818 |
Finance and subordinated debt interest expense | 2,985 | 965 |
Amortization | 6,359 | 6,593 |
EBITDA | 42,316 | 40,271 |
Notes: | |
(1) | Earnings per share is calculated using the weighted average number of shares. |
(2) | Reference is made above to EBITDA, which represents earnings before interest, taxes, and amortization. As there is no generally accepted method of calculating EBITDA, the measure as calculated by Taiga might not be comparable to similarly titled measures reported by other issuers. EBITDA is presented as management believes it is a useful indicator of a company's ability to meet debt service and capital expenditure requirements and because management interprets trends in EBITDA as an indicator of relative operating performance. EBITDA should not be considered by an investor as an alternative to net income or cash flows as determined in accordance with IFRS. For the disclosure of the manner in which EBITDA is calculated and reconciliation to net earnings refer to the "EBITDA" section of the Company's management's discussion and analysis which will be available shortly on SEDAR at www.sedar.com. |
The foregoing selected financial information is qualified in its entirety by and should be read in conjunction with, our unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2026 and accompanying notes and management's discussion and analysis which will be available shortly on SEDAR+ at www.sedarplus.ca.
SOURCE Taiga Building Products Ltd.
