Canada's Taiga Building Products' Q3 sales rise on higher lumber prices

Nov 7 (Reuters) -
Overview

• Taiga Q3 sales rose 2% yr/yr to C$431.3 mln, driven by higher lumber prices

• Net earnings for Q3 fell to C$12.8 mln due to higher expenses and interest costs

• EBITDA for Q3 was C$21.8 mln, slightly up from last year

Outlook

• Company did not provide specific guidance for future quarters in its press release

Result Drivers

• HIGHER LUMBER PRICES - Co attributes 2% sales increase to higher average lumber prices and changes in product mix

• EXPENSES IMPACT - Higher selling and administrative expenses and interest costs reduced net earnings

Key Details

Press Release: ID:nCNWYjKJ8a

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