Taiga Building Products Ltd. reported its financial results for the year ended December 31, 2022. The Company's consolidated net sales for the Q4 2022 were $400.8 million compared to $412.5 million over the same quarter last year. The decrease in sales by $11.6 million was largely due to lower selling prices on commodity products in the quarter ended December 31, 2022.
Gross margin for the quarter ended December 31, 2022 decreased to $49.4 million from $54.3 million over the same quarter last year.
Q4 2022 net earnings were $9.7 million compared to net earnings of $10.3 million over the same quarter last year. EBITDA was $17.2 million compared to an EBITDA of $17.4 million for the same quarter last year.
Full Year
Sales for the year ended December 31, 2022 were $2,192.7 million compared to $2,219.7 million in the prior year. The decrease in sales by $27.0 million or 1% was largely due to lower selling prices for commodity products.
Gross margin decreased to $291.2 million from $300.2 million over the same period last year. Net earnings were $88.6 million compared to $92.7 million in the prior year. EBITDA for the year ended December 31, 2022 was $139.3 million compared to $145.2 million in the prior year.
Taiga is the largest independent wholesale distributor of building products in Canada. Taiga distributes building products in Canada, the United States and overseas.
