Taiga Building Products Ltd. ("Taiga") reported its financial results for the period ended December 31, 2019. The company's consolidated net sales for the 4Q, 2019 were $298.1 million compared to $303.9 million over the same quarter last year. The decrease in sales by $5.8 million or 2% was largely due to lower commodity prices.
Gross margin for the quarter ended December 31, 2019 increased to $30.6 million from $24 million over the same quarter last year.
Net earnings for the 4Q, 2019 were $5.8 million compared to net earnings of $1.5 million over the same quarter last year. 4Q 2019 EBITDA was $12.9 million compared to an EBITDA of $5.8 million for the same quarter last year.
FY 2019 sales were $1,299.1 million compared to $1,451 million in the prior year. The decrease in sales by $151.9 million or 10.5% was largely due to decreased selling prices for commodity products; this was offset by the inclusion of Exterior Wood Inc.'s results, which was acquired in July of 2018.
Gross margin dollars for the year ended December 31, 2019 increased to $129.5 million from $122 million over the same period last year.
Net earnings for the year ended December 31, 2019 were $25.9 million compared to $20.3 million in the prior year. EBITDA for the year ended December 31, 2019 was $57.7 million compared to $42.7 million in the prior year.
Taiga is the leading independent wholesale distributor of building materials.
