Taiga Building Products Ltd. reported a net loss of $9.1 million for the quarter ended December 31, 2025, compared to net income of $6.6 million in the same period last year, driven by a $20.5 million non-cash goodwill and intangible asset impairment related to its U.S. subsidiary.
Net sales for the Q4 2025 decreased by 8% to $359.6 million, largely due to lower average lumber prices and a decline in sales volume. Gross margin increased slightly to $41.4 million, with gross margin percentage rising to 11.5% from 10.6%, driven by lower product costs.
EBITDA for the quarter was a loss of $5.3 million, compared to a profit of $15.7 million in the same period last year.
The $20.5 million impairment charge relates to Taiga's subsidiary in Washington State and was triggered by a decline in U.S. housing market activity.
For the full fiscal year ended December 31, 2025, net sales were relatively flat at $1,631.8 million. Net earnings decreased to $28.6 million from $47.6 million in the prior year, primarily due to the impairment charge. EBITDA for the year was $56.7 million, compared to $79.8 million last fiscal year.
Management stated that while the write-down reflects current market conditions, it continues to believe in the long-term fundamentals of the U.S. operation and expects its underlying value and performance to improve as U.S. housing and renovation markets recover.
Taiga is the largest independent wholesale distributor of building products in Canada. Taiga distributes building products in Canada, the United States and overseas.
