CanWel Building Materials Group Ltd. (“CanWel”) announced its 1Q 2019 financial results for the period ended March 31, 2019. 1Q consolidated revenues amounted to $281.9 million compared to $295 million in the same period in 2018, as the company said in the press release received by Lesprom Network.
Gross margin dollars were lower at $41 million, compared to $45.7 million during the 1Q in 2018. Gross margin percentage was also lower at 14.6% of revenues versus 15.5% during the same period in 2018. The decrease in margin dollars and margin percentage is mainly attributable to the aforementioned downward trend in construction material pricing, which was partially offset by the inclusion of the results from the company’s previously completed acquisitions.
EBITDA and Adjusted EBITDA for the 1Q 2019 amounted to $15.1 million, compared to $15.6 million during the 1Q 2018.
As a result of the foregoing factors, net loss for the quarter ended March 31, 2019 was $0.4 million compared to net earnings of $6.5 million in the same quarter of 2018.
Founded in 1989, CanWel is Canada’s only fully integrated national distributor in the building materials and related products sector.
