BURNABY, BC, Feb. 27, 2026 /CNW/ – Taiga Building Products Ltd. (“Taiga” or the “Company”) today reported its financial results for the year ended December 31, 2025.
Fourth Quarter Ended December 31, 2025 Earnings Results
The Company’s consolidated net sales for the quarter ended December 31, 2025 were $359.6 million compared to $389.0 million in the same quarter last year. The decrease in sales by $29.4 million or 8% was largely due to lower average lumber prices and a decline in sales volume during the quarter.
Gross margin for the quarter ended December 31, 2025 increased to $41.4 million from $41.3 million in the same quarter last year . Gross margin percentage rose to 11.5% from 10.6% over the same period last year. The increase in gross margin dollars was primarily driven by lower product costs during the quarter.
Net earnings for the quarter ended December 31, 2025 decreased to a loss of $9.1 million, compared to net income of $6.6 million in the same period last year, primarily due to a $20.5 million non-cash write-off of goodwill and intangible assets related to Taiga’s subsidiary in Washington State. The impairment is related to a decline in housing market activity in the US. While the write‑down reflects current market conditions, management continues to believe in the long‑term fundamentals of the operation and expects its underlying value and performance to improve as U.S. housing and renovation markets recover.
EBITDA for the quarter ended December 31, 2025 was a loss of $5.3 million, compared to a profit of $15.7 million in the same period last year.
Year Ended December 31, 2025 Earnings Results
The Company’s consolidated net sales for the year ended December 31, 2025 were $1,631.8 million compared to $1,634.4 million last fiscal year. The decrease in sales by $2.6 million or 0.2% was largely due to a lower average lumber pricing and a decline in sales volume.
Gross margin for the year ended December 31, 2025 increased to $176.4 million from $173.3 million last fiscal year. The increase was primarily due to lower product costs, partially offset by the decline in net sales.
Net earnings for the year ended December 31, 2025 decreased to $28.6 million from $47.6 million last fiscal year, primarily due to the impairment of the U.S. subsidiary’s goodwill and intangible asset.
EBITDA for the year ended December 31, 2025 was $56.7 million compared to $79.8 million last fiscal year.
Condensed Consolidated Statement of Earnings
For the Three Months Ended
|
December 31, |
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|
(in thousands of Canadian dollars, except for per share amounts) |
2025 |
2024 |
|
Sales |
359,588 |
389,042 |
|
Gross margin |
41,433 |
|