Taiga Building Products (TBL) Q4 2024 earnings summary

Executive summary

• FY2024 sales, gross margin, net earnings and EBITDA declined YoY, mainly reflecting lower commodity product volumes and margins.

• Q4 sales and EBITDA rose YoY, while gross margin and net earnings fell; higher product costs and income tax expense affected results.

Financial highlights

• Q4 2024 sales were $389.0M vs. $367.7M YoY; gross margin was $41.3M vs. $42.4M, and net earnings were $6.6M vs. $9.4M.

• Q4 EBITDA was $15.7M vs. $13.1M YoY; earnings before income taxes were $12.9M vs. $10.4M, while income tax expense rose to $6.3M from $1.0M.

• FY2024 sales were $1,634.4M vs. $1,679.7M; gross margin was $173.3M vs. $198.4M and net earnings were $47.6M vs. $61.3M.

• FY2024 EBITDA was $79.8M vs. $91.3M; earnings before income taxes were $67.1M vs. $76.7M.

Key financial ratios and metrics

• Q4 net earnings per share were $0.06 vs. $0.09 YoY; FY2024 EPS was $0.44 vs. $0.57.

• Q4 distribution expense was $8.1M vs. $8.2M; selling and administration expense was $20.8M vs. $24.3M.

• FY2024 distribution expense was $32.7M vs. $32.3M; selling and administration expense was $74.0M vs. $87.0M.