Taiga Building Products (TBL) Q3 2024 earnings summary

Executive summary

• Q3 and 9M results declined YoY as lower commodity product sales reduced gross margin dollars.

Financial highlights

• Q3 sales were $423.9M vs. $456.6M YoY; net earnings were $14.3M vs. $21.4M.

• 9M sales were $1,245.3M vs. $1,312.0M YoY; net earnings were $41.0M vs. $51.9M.

Key financial ratios and metrics

• Q3 gross margin was $45.5M, 10.7% of sales, vs. $56.4M and 12.4% YoY; EBITDA was $21.5M vs. $27.6M.

• 9M gross margin was $132.0M, 10.6% of sales, vs. $155.9M and 11.9% YoY; EBITDA was $64.0M vs. $78.1M.

• EPS was $0.13 in Q3 vs. $0.20 YoY, and $0.38 for 9M vs. $0.48.