TAIGA'S (TBL) SECOND QUARTER RESULTS MARGINALLY BETTER

Executive Summary

• Taiga Building Products Ltd. reported its financial results for the three and six months ended June 30, 2025, showing mixed performance with increased sales and gross margins in Q2 but decreased net earnings for the six-month period.
• Second Quarter 2025 net earnings increased to $15.1 million from $13.9 million in the prior year period, driven by higher average pricing and product mix.
• For the six months ended June 30, 2025, net earnings decreased to $24.9 million from $26.7 million, primarily due to increased selling and administrative expenses, despite a slight increase in gross margin.

Key Details

• Q2 2025 Sales: $441.0 million (up 3% or $13.1 million from $427.8 million in Q2 2024), driven by higher average pricing and product mix.
• Q2 2025 Gross Margin: $49.2 million (up from $44.5 million in Q2 2024); margin percentage increased to 11.2% from 10.4%.
• Q2 2025 Net Earnings: $15.1 million (up from $13.9 million in Q2 2024).
• Q2 2025 EBITDA: $23.5 million (up from $22.7 million in Q2 2024).
• Q2 2025 Net Earnings Per Share: $0.14 (up from $0.13 in Q2 2024).
• Six Months 2025 Sales: $840.9 million (up 2% or $19.5 million from $821.5 million in the same period last year).
• Six Months 2025 Gross Margin: $86.7 million (up slightly from $86.5 million in the same period last year).
• Six Months 2025 Net Earnings: $24.9 million (down from $26.7 million in the same period last year), primarily due to increased selling and administrative expenses.
• Six Months 2025 EBITDA: $40.3 million (down from $42.5 million in the same period last year).
• Six Months 2025 Net Earnings Per Share: $0.23 (down from $0.25 in the same period last year).
• Q2 2025 Expense Breakdown: Distribution expense was $7.8 million (down from $8.5 million); Selling and administration expense was $21.4 million (up from $16.8 million).
• Six Months 2025 Expense Breakdown: Distribution expense was $16.2 million (down from $16.5 million); Selling and administration expense was $37.0 million (up from $34.0 million).