Canada's Taiga Q4 revenue falls on lower lumber prices
Overview
Canada building materials firm's fiscal Q4 revenue fell 8% yr/yr due to lower lumber prices
Company reported fiscal Q4 net loss of C$9.1 mln due to impairment of U.S. subsidiary
Fiscal Q4 gross margin improved to 11.5% from 10.6% last year
Outlook
Company expects performance to improve as U.S. housing market recovers
Result Drivers
LOWER LUMBER PRICES - Sales decline attributed to lower average lumber prices and reduced sales volume
GOODWILL IMPAIRMENT - Net loss impacted by C$20.5 mln non-cash write-off related to U.S. subsidiary
Company press release: ID:nCNWJZhWfa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Sales |
| C$359.6 mln |
|
Q4 Net Income |
| -C$9.1 mln |
|
Q4 EBITDA |
| -C$5.3 mln |
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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