Goodfellow Reports its Results for the First Quarter Ended February 29, 2024

Goodfellow Inc. (the “Company” or “Goodfellow”) announced its financial results for the first quarter ended February 29, 2024.

The Company reported a net loss of $108 thousand or $0.01 per share compared to a net loss of $211 thousand or $0.02 per share a year ago. Consolidated sales for the three months ended February 29, 2024 were $105.3 million compared to $105.9 million last year.

Though under pressure from lingering inflation and cautious consumer sentiment, Goodfellow achieved a comparable overall financial performance in the first quarter thanks to its diversified product offering, expertise in value-added services, and efficient distribution systems, as well as its strong, debt-free balance sheet. With uncertain economic conditions ahead, the Company will continue to protect margins and seize opportunities for growth with new and existing customers.

For full first quarter results click here.

About Goodfellow

Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. Goodfellow has a distribution footprint from coast-to-coast in Canada servicing 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”

Contact:

Patrick Goodfellow – President & CEO – info@goodfellow.com – (450) 635-6511

Source: Goodfellow Inc.