Taiga Building Products' consolidated net sales for the Q4 2023 were $367.7 million compared to $400.8 million over the same quarter last year. A decrease in sales by $33.1 million.
Gross margin for the Q4 2023 decreased to $42.4 million from $49.4 million over the same quarter last year. The decrease in gross margin was primarily due to lower commodity prices during the quarter.
Net earnings for the Q4 2023 had a slight decreased to $9.4 million compared to $9.7 million over the same period last year primarily due to lower sales accompanied by an increase in operating costs.
EBITDA for the Q4 2023 was $13.1 million compared to $17.2 million for the same period last year. EBITDA decreased primarily due to lower margins earned during the quarter.
Year Ended December 31, 2023 Earnings Results
Sales for the year ended December 31, 2023 were $1,679.7 million compared to $2,192.7 million in the prior year. The decrease in sales was largely due the Company experiencing lower selling prices for its commodity products.
Gross margin for the year ended December 31, 2023 decreased to $198.4 million from $291.2 million in the prior year. The decrease in gross margin was primarily due to lower commodity prices during the period.
Net earnings for the year ended December 31, 2023 were $61.3 million compared to $88.6 million in the prior year. The decrease in net earnings was primarily due to decreased gross margins during the period.
EBITDA for the year ended December 31, 2023 was $91.3 million compared to $139.3 million in the prior year. EBITDA decreased primarily due to lower margins earned during the period.
Taiga is the largest independent wholesale distributor of building products in Canada. Taiga distributes building products in Canada, the United States and overseas.
