Goodfellow Reports Its Results for the Fourth Quarter and Fiscal Year Ended November 30, 2025 and Declares a Dividend

DELSON, Quebec, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Goodfellow Inc. (TSX: GDL) (the “Company” or “Goodfellow”) announced its financial results today. For the fourth quarter ended November 30, 2025, the Company reported net earnings of $3.2 million or $0.39 per share compared to net earnings of $2.4 million or $0.29 per share a year ago. Consolidated sales for the three months ended November 30, 2025 were $137.0 million compared to $124.2 million last year. For the fiscal year ended November 30, 2025, the Company reported net earnings of $7.1 million or $0.86 per share compared to net earnings of $13.4 million or $1.58 per share a year ago. Consolidated sales for the fiscal year ended November 30, 2025 were $543.0 million compared to $509.5 million last year. Fiscal year 2025 opened against a backdrop of economic uncertainty, shifting trade dynamics, and uneven demand across North American markets. These dynamics, combined with ongoing labor constraints, rising costs, and continued dependence on imported materials, created a complex operating environment for distributors and manufacturers across the sector. Goodfellow navigated these uncertain conditions to achieve a 6.6%, or $33.4 million, increase in revenues, while earnings decreased by $6.2 million as compared to last year. Recently acquired value-added lumber handling and kiln-drying assets in the U.S. had a meaningful non-recurring impact on results for the year, supporting solid revenue growth while generating significant integration costs that reduced earnings. Although broader economic conditions may support only stable and modest growth next year, Goodfellow enters the year with solid fundamentals that position the Company to manage uncertainty and strengthen its position as an industry leader. The Board of directors of Goodfellow Inc. declared an eligible dividend of $0.15 per share payable on March 19, 2026, to shareholders of record at the close of business on March 5, 2026. This dividend is designated as an eligible dividend under the Income Tax Act (Canada). The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. About Goodfellow Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. With a distribution footprint from coast-to-coast in Canada and in the Northeastern U.S., Goodfellow effectively serves commercial and residential sectors through lumber yard retailer networks, manufacturers, industrial and infrastructure project partners, and floor covering specialists. Goodfellow also leverages its value-added product capabilities to serve lumber markets internationally. Goodfellow Inc. is a publicly traded company, and its shares are listed on the Toronto Stock Exchange under the symbol “GDL”. GOODFELLOW INC.   Consolidated Statements of Comprehensive Income   For the years ended November 30, 2025 and 2024   (in thousands of dollars, except per share amounts) Unaudited               Years ended   November 30 2025   November 30 2024 (Restated)1     $   $             Sales 542,983   509,541   Expenses         Cost of goods sold 439,459   409,140   Selling, administrative and general expenses 89,895   79,958   Net financial costs 4,029   2,379     533,383   491,477             Earnings before income taxes 9,600   18,064             Income taxes 2,458   4,695             Net earnings 7,142   13,369             Items that will not subsequently be reclassified to net earnings                   Remeasurement of defined benefit plan obligation net of taxes of $179 ($1,984 in 2024) 459   5,103             Total comprehensive income 7,601   18,472             Net earnings         -per share –Basic 0.86   1.58   -per share –Diluted 0.85   1.58   1 In the fourth quarter of 2025, the Company corrected an error in presentation for certain production related expenses that were recognized as selling, administrative and general expenses and recording them to cost of goods sold (with no impact to any associated subtotals or totals). The comparative financial information for fiscal year 2024 has been restated for this presentation adjustment. The impact was a decrease to selling, administrative and general expenses for $21,344, with a corresponding increase to cost of goods sold. This presentation adjustment has no impact on earnings before income taxes or net earnings. The presentation adjustment also had no impact on the consolidated statement of financial position, statement of cash flows and statement of changes in shareholders equity. GOODFELLOW INC.         Consolidated Statements of Financial Position         (in thousands of dollars) Unaudited                     As at   As at     November 30 2025   November 30 2024     $   $   Assets         Current Assets         Cash 3,767   5,314   Trade and other receivables 55,471   56,601   Income taxes receivable 1,360   6,634   Inventories 144,484   131,284   Prepaid expenses 3,168   4,047   Total Current Assets 208,250   203,880             Non-Current Assets         Property, plant and equipment 42,625   43,883   Intangible assets 381   896   Right-of-use assets 19,304   19,936   Defined benefit plan asset 21,739   21,925   Deferred income taxes 744   -   Other assets 1,875   1,336   Total Non-Current Assets 86,668   87,976   Total Assets 294,918   291,856             Liabilities         Current Liabilities         Bank indebtedness 17,564   5,913   Trade and other payables 42,629   49,028   Provision 624   930   Current portion of lease liabilities 6,485   6,271   Total Current Liabilities 67,302   62,142             Non-Current Liabilities         Lease liabilities 14,551   15,203   Deferred income taxes 5,436   8,303   Total Non-Current Liabilities 19,987   23,506   Total Liabilities 87,289   85,648             Shareholders’ Equity         Share capital 9,184   9,309   Retained earnings 198,445   196,899     207,629   206,208   Total Liabilities and Shareholders’ Equity 294,918   291,856   GOODFELLOW INC. Consolidated Statements of Cash Flows For the years ended November 30, 2025 and 2024 (in thousands of dollars) Unaudited Years ended     November 30 2025   November 30 2024     $   $   Operating Activities     Net earnings 7,142   13,369   Adjustments for:     Depreciation and amortization of:     Property, plant and equipment 5,194   4,188   Intangible assets 585   591   Right-of-use assets 6,123   4,787   Gain on disposal of property, plant and equipment (20 ) (183 ) Provision (306 ) (1,859 ) Income taxes 2,458   4,695   Interest expense 1,644   1,077   Interest on lease liabilities 1,415   768   Funding in excess of pension plan expense 825   509   Share-based compensation 1,119   -   Other (146 ) 46     26,033   27,988         Changes in non-cash working capital items (18,834 ) (24,102 ) Interest paid (3,015 ) (1,918 ) Income taxes paid (974 ) (2,836 )   (22,823 ) (28,856 ) Net Cash Flows from Operating Activities 3,210   (868 )       Financing Activities     Net increase in bank loans 1,000   -   Net increase in CORRA loans 16,000   -   Payment of lease liabilities (5,783 ) (5,170 ) Redemption of shares (1,374 ) (892 ) Dividends paid (5,028 ) (6,375 ) Net Cash Flows from Financing Activities 4,815   (12,437 )       Investing Activities     Acquisition of property, plant and equipment (3,634 ) (15,690 ) Acquisition of intangible assets (70 ) -   Proceeds on disposal of property, plant and equipment 20   576   Other assets (539 ) (559 ) Net Cash Flows from Investing Activities (4,223 ) (15,673 )       Net increase (decrease) in cash 3,802   (28,978 ) Cash (bank indebtedness) beginning of year (599 ) 28,379   Cash (bank indebtedness), end of year 3,203   (599 )       Cash position is comprised of:     Cash 3,767   5,314   Bank overdraft (564 ) (5,913 )   3,203   (599 ) GOODFELLOW INC. Consolidated Statements of Changes in Shareholders’ Equity For years ended November 30, 2025 and 2024 (in thousands of dollars) Unaudited           Share Capital   Retained Earnings   Total     $   $   $           Balance as at November 30, 2023 9,379   185,624   195,003           Net earnings -   13,369   13,369   Other comprehensive income -   5,103   5,103           Total comprehensive income -   18,472   18,472           Dividend -   (6,375 ) (6,375 ) Redemption of Shares (70 ) (822 ) (892 )         Balance as at November 30, 2024 9,309   196,899   206,208           Net earnings -   7,142   7,142   Other comprehensive income -   459   459           Total comprehensive income -   7,601   7,601           Dividend -   (5,028 ) (5,028 ) Share-based compensation -   222   222   Redemption of Shares (125 ) (1,249 ) (1,374 )         Balance as at November 30, 2025 9,184   198,445   207,629   From: Goodfellow Inc.   Patrick Goodfellow   President and CEO   T: 450 635-6511   F: 450 635-3730   [email protected]