Taiga Building Products (TBL) Q2 2025 earnings summary

Executive summary

• Q2 2025 sales, gross margin, net earnings and EBITDA increased YoY; H1 sales and gross margin edged higher while net earnings and EBITDA declined.

Financial highlights

• Q2 sales were $441.0 million vs. $427.8 million, up 3%, largely on higher average pricing and product mix.

• Q2 gross margin was $49.2 million vs. $44.5 million; net earnings were $15.1 million vs. $13.9 million, primarily on higher gross-margin dollars.

• Q2 EBITDA was $23.5 million vs. $22.7 million, primarily reflecting higher margin dollars.

• H1 sales were $840.9 million vs. $821.5 million, up 2%; gross margin was $86.7 million vs. $86.5 million.

• H1 net earnings were $24.9 million vs. $26.7 million, primarily due to higher selling and administrative expenses; EBITDA was $40.3 million vs. $42.5 million.

Key financial ratios and metrics

• Q2 gross margin rate was 11.2% vs. 10.4% YoY.

• Net earnings per share were $0.14 vs. $0.13 in Q2, and $0.23 vs. $0.25 for H1.