Taiga Building Products Ltd T.TBL

Alternate Symbol(s): TGAFF

Industrials Industrial Distribution

Taiga Building Products Ltd is a Canada-based independent wholesale distributor of building products in Canada and the United States. The Company operates within two reportable geographic areas, Canada and the United States. It owns and operates four wood preservation plants that produce pressure treated wood products. Its product categories include composite decking, engineered wood, fencing, flooring, insulation, lumber, moldings, panels, preserved wood, roofing, and siding. The Company offers a selection of engineered wood products and related accessories. It provides a range of lightweight, easy-to-install fencing products for home or commercial use. It produces and distributes a variety of luxury vinyl and laminate flooring products, along with essential supplies and accessories. It also specializes in distributing eastern and western Canadian dimensions of various wood, including Spruce, Pine, Fir (SPF) lumber, Douglas fir lumber, and fir/larch in less than carload (LCL) volumes.

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Taiga Building Products Ltd > From Globe.

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Comment by downwithdotcom1on Jun 13, 2024 2:36pm

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Post# 36087656

RE:From Globe.

i agree...this would be a great fit as this entity does most of their business in the US.. i posted some selected data see below..note that their gross margin from last quarter was 22 % while Taiga's is only 10%. Might be cheaper to operate with denser populations in the US but TBL also has some juicy value added components , the biggest being their pressure treated wood with facilities both in Canada as well as the US. Currently, TBL trades at a substantial discount to this entity even at $5 so it would be accreative to take TBL out. Hopefully, the TBL gang is listening....dwdc

Financial Highlights for Q1 2024 (as compared to Q1 2023, unless otherwise stated)

Generated sales of $535.1 million (C$721.7 million), as compared to $579.9 million (C$784.3 million)
Gross margin grew to $118.2 million, from $117.0 million
Gross margin percentage increased to 22.1%, a 190 basis points improvement
Operating expenses increased by $1.4 million, or 1.5%
Net income increased by 11.2% to $10.7 million; Basic earnings per share grew 11.6% to $0.48(C$0.65)
Adjusted net income increased by 16.8% to $17.3 million; Adjusted basic earnings per share increased 18.2% to $0.78(C$1.05)
Adjusted EBITDA grew 6.3% to $45.6 million (C$61.4 million)
Operating cash flow before changes in working capital increased $6.9 million to $36.9 million, from $30.0 million
Declared a dividend of C$0.14 per share, payable on July 26, 2024 to shareholders of record as of July 15, 2024