Goodfellow Inc. reports 3Q sales of $132.5 million

Market: Lumber / Panels
Posted October 19, 2018
Goodfellow Inc. announced its financial results for the 3Q ended August 31, 2018. For the three months ended August 31, 2018, the Company reported a net income of $2 million, or $0.24 per share compared to a net income of $1.6 million, or $0.19 per share a year ago. Consolidated sales for the three months ended August 31, 2018 were $132.5 million compared to $143 million last year, as the company said in the press release received by Lesprom Network.

For the nine months ended August 31, 2018, the Company reported a net income of $2.4 million, or $0.28 per share compared to a net loss of $4.3 million, or $0.51 per share a year ago.

Consolidated sales for the nine months ended August 31, 2018 were $362.5 million compared to $396.1 million last year.

“Cost control initiatives continue to be at the forefront in a downward margin pressure business landscape. Moving forward in its 120th anniversary, the Company is focused on sales volume increases in its core lumber categories through opportune asset acquisitions‎,” said Patrick Goodfellow, President and CEO. “The Company intends to invest in the upgrade of its operational setups to re-establish its dominant position in value added custom orders”.

Goodfellow Inc. is a distributor of lumber products, building materials and floor coverings.




Topics: Finance

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