TAIGA'S (TBL) FIRST QUARTER RESULTS IMPACTED BY DECREASE IN SALES

• Taiga Building Products Ltd. (TBL) released Q1 2026 financial results on May 8, 2026.
• Consolidated net sales decreased 13% year-over-year to $349 million from $400 million in Q1 2025.
• Net earnings declined to $9.0 million from $9.8 million year-over-year.
• Gross margin remained stable at approximately $37.5 million, attributed to commodity pricing discipline and improved product mix.
• EBITDA saw a slight increase to $17.1 million compared to $16.7 million in Q1 2025.
• Finance expenses increased significantly to $1,114k in Q1 2026 from $214k in Q1 2025.
• Income tax expense rose to $3,929k compared to $3,410k in the prior year period.

• The sales decline of 13% is consistent with the negative trend established in Fiscal 2025 (Q4 sales down 8%) and Q3 2025 (sales up only 2%).
• Finance expense increase from $214k to $1.1M indicates a significant rise in debt servicing costs, likely due to renewed borrowing mentioned in November 2025 news.
• EBITDA growth is marginal (+2%) and does not offset the revenue contraction or earnings decline.
• The impairment charge of C$20.5 million from FY 2025 remains a drag on book value, though it was non-cash.
• Given that prior releases (Feb 2026) already warned of "decline in commodity sales" and "weakening U.S. housing market," this news is largely priced in but confirms the deterioration trend.

• Taiga Building Products Ltd. operates in the building products sector, focusing on lumber and construction materials.
• Flagship operations include a U.S. subsidiary (Washington State) which recently suffered a C$20.5 million goodwill impairment.
• The company manages multiple product groups with sales volume across all declining in Q1 2026.
• Management maintains confidence in long-term fundamentals despite current market conditions.