Doman Building earns $80.3-million in 2025

Executive Summary

• Doman Building Materials Group Ltd. reported full-year 2025 financial results showing a 17.1% increase in consolidated revenues to $3.1 billion, driven largely by the full-year impact of recent acquisitions.
• The company reported strong profitability metrics for the year, with EBITDA rising to $256.4 million and net earnings increasing to $80.3 million compared to 2024 figures.
• Despite a decline in Q4 revenues due to lower construction materials pricing in the U.S., the company maintained gross margin expansion and declared a total annual dividend of 56 cents per share.

Key Details

• Full Year 2025 Financials:
  • Revenues: $3.1 billion (up 17.1% from $2.7 billion in 2024).
  • Gross Margin: 16.2% (up from 16.0% in 2024); Gross margin dollars were $505.5 million.
  • EBITDA: $256.4 million (up from $192.2 million in 2024).
  • Adjusted EBITDA: $256.4 million (up 31.1% from $195.5 million in 2024).
  • Net Earnings: $80.3 million (up from $54.2 million in 2024).
  • Dividends: Total of 56 cents per share declared for the year.
• Q4 2025 Financials:
  • Revenues: $644.2 million (down from $707.8 million in Q4 2024).
  • Gross Margin: 16.6% (up from 16.0% in Q4 2024); Gross margin dollars were $107.2 million.
  • EBITDA: $44.3 million (down from $51.0 million in Q4 2024).
  • Adjusted EBITDA: $44.3 million (down from $51.9 million in Q4 2024).
  • Net Earnings: $11.0 million (up from $8.3 million in Q4 2024).
  • Dividends: 14 cents per share declared, paid on Jan. 15, 2026.
• Operational & Segment Updates:
  • Building materials segment sales increased by $472.5 million (17.9%), attributed to the full-year results of recent acquisitions.
  • Legacy operations were impacted by decreases in pricing for certain construction materials.
  • Product mix for the year: 81% construction materials, 16% specialty/allied products, 3% other.
  • Product mix for Q4: 78% construction materials, 18% specialty/allied products, 4% forestry/other.
  • Q4 revenue decline was primarily due to declines in construction materials pricing in the United States and lower average year-over-year pricing.
  • Gross margin improvement was attributed to margin enhancement strategies and the full-year contribution from the Doman Tucker Lumber acquisition.

Notable Quotes

• "Despite lower pricing for construction materials in the fourth quarter, we are proud of our overall financial performance in 2025, with revenues, gross margin and EBITDA showing strength and growth when compared to 2024," commented Amar S. Doman, chairman of the board. "With housing starts in the U.S. and in Canada down in the fourth quarter, combined with lower construction materials pricing across the board, we remain focused on managing costs and efficiencies."