Goodfellow Inc. announced its financial results. For the Q4 ended November 30, 2022, the Company reported net earnings of $4.4 million or $0.52 per share compared to net earnings of $10.1 million or $1.18 per share a year ago. Consolidated sales for the three months ended November 30, 2022 were $149.3 million compared to $143.0 million last year.
For the fiscal year ended November 30, 2022, the Company reported net earnings of $32.7 million or $3.82 per share compared to net earnings of $37.8 million or $4.42 per share a year ago. Consolidated sales for the fiscal year ended November 30, 2022 were $631.2 million compared to $615.9 million last year.
Goodfellow performed very well in Fiscal 2022 realizing the highest sales revenue on record. These results were achieved despite extremely challenging and shifting market conditions resulting from surging inflation, rising energy costs, labour shortages and changes in international markets.
The Board of directors of Goodfellow Inc. declared an eligible dividend of $0.50 per share payable on March 16, 2023, to shareholders of record at the close of business on March 2, 2023. This dividend is designated as an eligible dividend under the Income Tax Act (Canada).
Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings.
