Taiga Building Products Ltd. reported its financial results for the three months ended March 31, 2020. The company's consolidated net sales for the 1Q 2020 were $320.3 million compared to $287.4 million over the same period last year. The increase in sales by $32.9 million, or 11% was largely due to increased selling prices for commodity products.
Gross margin for the quarter ended March 31, 2020 increased to $30.6 million from $27.5 million over the same period last year. The increase in gross margin was primarily due to higher sales.
Net earnings for the 1Q 2020 increased to $6.6 million from $4.7 million over the same period last year primarily due to increased gross margin.
EBITDA for the 1Q 2020 was $13.1 million compared to $11.1 million for the same period last year.
Taiga Building Products Ltd. is a wholesale distributor of lumber, panel products, and related building materials. The company operates distribution centers across Canada.