Goodfellow Inc.
Goodfellow Inc.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Goodfellow (GDL) announced its financial results for the second quarter ended May 31, 2022
  • Net earnings of $12.5 million or $1.46 per share, compared to $14.0 million or $1.63 per share a year ago
  • Consolidated sales for the three months ended May 31, 2022 were $184.9 million compared to $185.5 million last year
  • Goodfellow is a diversified manufacturer of value-added lumber products
  • Goodfellow Inc. (GDL) is up 6.27 per cent, trading at C$10.84 per share at 12:16 pm ET

Goodfellow (GDL) announced its financial results for the second quarter ended May 31, 2022.

Financial highlights:

  • Net earnings of $12.5 million or $1.46 per share, compared to $14.0 million or $1.63 per share a year ago
  • Consolidated sales for the three months ended May 31, 2022 were $184.9 million compared to $185.5 million last year

For the six months ended May 31, 2022, the company reported net earnings of $17.7 million or $2.06 per share. This was against the net earnings of $17.7 million or $2.07 per share a year ago. Consolidated sales were $314.3 million against $305.0 million last year.

In the first quarter, the company noted unanticipated high return. In the second quarter, Goodfellow delivered strong results through a well diversified offering of wood products and services, and by meeting customer needs.

The company successfully navigated looming economic concerns and signs of supply catching up with demand issues. It is also paying close attention to inflation and consumer behavior, as well as overhead expenses and inventory levels for days ahead.

Goodfellow is a diversified manufacturer of value-added lumber products. It also is a wholesale distributor of building materials and floor coverings. It offers products including decking, flooring, lumber, insulation and soundproofing, panels, siding, and specialty and commodity panels.

The company represents three main sectors – retail trade, industrial, and manufacturing . It also leverages its value-added product capabilities to serve lumber markets internationally.

Goodfellow Inc. (GDL) is up 6.27 per cent, trading at C$10.84 per share at 12:16 pm ET.

More From The Market Herald

" CEMATRIX (TSXV:CVX) announces $22.5 million in contracts executed

CEMATRIX Corporation (CVX) has announced that its wholly-owned operating subsidiaries have executed $22.5 million in new contracts.

" Lithium plant developer zeros in on Thunder Bay refinery site

Ian Ross, Northern Ontario Business

" Algoma Steel (TSX:ASTL) announces preliminary results of substantial issuer bid

Algoma Steel Group (ASTL) has announced the preliminary results of its substantial issuer bid which expired on July 27, 2022.

" Algoma Steel (TSX:ASTL) donates $1 million to Sault Area Hospital’s Residential Withdrawal Management Facility

Algoma Steel Group (ASTL) has donated C$1 million to the Sault Area Hospital Foundation (SAHF).