Goodfellow Reports Its Results for the Third Quarter Ended August 31, 2026 and Declares a Dividend

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Postmedia has not reviewed the content. by GlobeNewswire Goodfellow Reports Its Results for the Third Quarter Ended August 31, 2026 and Declares a DividendAuthor of the article:DELSON, Quebec, Oct. 06, 2026 (GLOBE NEWSWIRE) — Goodfellow Inc. (TSX: GDL) (the “Company” or “Goodfellow”) announced today its financial results for the third quarter ended August 31, 2026.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountFor the three months ended August 31, 2026, Goodfellow reported net earnings of $2.3 million or $0.27 per share compared to net earnings of $3.7 million or $0.45 per share a year ago, while consolidated sales were $145.7 million compared to $141.9 million last year.For the nine months ended August 31, 2026, the Company reported net earnings of $1.2 million or $0.14 per share compared to net earnings of $3.9 million or $0.47 per share a year ago, while consolidated sales were $397.1 million compared to $406.0 million last year.This advertisement has not loaded yet, but your article continues below.At the close of the third quarter of 2026, Goodfellow’s performance reflected mixed conditions across Canada’s lumber and building materials sector. Uncertainty surrounding trade policies weighed significantly on residential construction activity and consumer confidence in certain regions, while demand remained relatively stable in select commercial, industrial and infrastructure-related markets.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe Board of Directors declared an eligible dividend of $0.10 per share payable on November 3, 2026 to shareholders of record at the close of business on October 20, 2026. This dividend is designated as an eligible dividend under the Income Tax Act (Canada). The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. With a distribution footprint from coast-to-coast in Canada and in the Northeastern U.S., Goodfellow effectively serves 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”.This advertisement has not loaded yet, but your article continues below. GOODFELLOW INC.Consolidated Statements of Comprehensive IncomeFor the three and nine months ended August 31, 2026 and 2025(in thousands of dollars, except per share amounts)Unaudited For the three months endedFor the nine months ended August 312026August 312025(Restated)1August 312026August 312025(Restated)1 $$$$ Sales145,719141,910397,134406,030Expenses Cost of goods sold117,759112,218322,679330,183Selling, administrative and general expenses23,537 23,25169,477 67,130Net financial costs1,299 1,2423,354 3,240 142,595136,711395,510400,553 Earnings before income taxes3,1245,1991,6245,477 Income taxes8741,4564541,534 Total comprehensive income 2,250 3,7431,170 3,943 Net earnings -per share –Basic0.270.450.140.47-per share –Diluted0.270.440.140.47 1 In the fourth quarter of 2025, the Company corrected an error in presentation for certain production-related expenses that were recognized as selling, administrative and general expenses instead of cost of goods sold (with no impact to any associated subtotals or totals). The comparative financial information for the second quarter 2025 has been restated for this presentation adjustment. The impact was a decrease to selling, administrative and general expenses for the three months ended August 31, 2025 of $5,528 and for the nine months ended August 31, 2025 of $17,589, with a corresponding increase to cost of goods sold. This presentation adjustment has no impact on earnings before income taxes or net earnings. The presentation adjustment also had no impact on the consolidated statement of financial position, statement of cash flows and statement of changes in Shareholders’ Equity.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below. GOODFELLOW INC. Consolidated Statements of Financial Position (in thousands of dollars) Unaudited As atAs atAs at August 31 2026November 30 2025August 312025 $$$Assets Current Assets Cash4,3253,7674,098Trade and other receivables66,87055,47164,632Income taxes receivable2,9351,3605,003Inventories164,128144,484148,403Prepaid expenses5,3573,1681,640Total Current Assets243,615208,250223,776 Non-Current Assets Property, plant and equipment43,04842,62542,545Intangible assets56381483Right-of-use assets19,77519,30420,356Defined benefit plan asset21,15621,73921,385Deferred income taxes744744–Other assets1,9581,8751,885Total Non-Current Assets86,73786,66886,654Total Assets330,352294,918310,430 Liabilities Current Liabilities Bank indebtedness39,85617,56422,000Trade and other payables55,60442,62950,234Provision587624804Current portion of lease liabilities6,8636,4856,562Total Current Liabilities102,91067,30279,600 Non-Current Liabilities Lease liabilities14,79814,55115,447Deferred income taxes5,4365,4368,303Total Non-Current Liabilities20,23419,98723,750Total Liabilities123,14487,289103,350 Shareholders’ Equity Share capital9,1239,1849,214Retained earnings198,085198,445197,866 207,208207,629207,080Total Liabilities and Shareholders’ Equity330,352294,918310,430 This advertisement has not loaded yet, but your article continues below.GOODFELLOW INC.Consolidated Statements of Cash FlowsFor the three and nine months ended August 31, 2026 and 2025(in thousands of dollars)Unaudited For the three months endedFor the nine months ended August 312026August 312025August 312026August 312025 $$$$Operating Activities Net earnings2,2503,7431,1703,943Adjustments for: Depreciation and amortization of: Property, plant and equipment1,2631,3083,7083,857Intangible assets155147457438Right-of-use assets1,5731,5974,5644,607Loss (gain) on disposal of property, plant and equipment31(3)21(12)Provision(15)16(37)(126)Income taxes8741,4564541,534Interest expense6556101,6471,442Interest on lease liabilities3583621,0251,068Funding in excess of pension plan expense174169583540Share-based compensation1818954589Other4(4)(27)(185) 7,5039,49014,11017,195 Changes in non-cash working capital items27,97230,034(20,345)(21,600)Interest paid(1,015)(979)(2,821)(2,447)Income taxes paid(1,219)107(2,029)97 25,73829,162(25,195)(23,950)Net Cash Flows from Operating Activities33,24138,652(11,085)(6,755) Financing Activities Net increase in bank loans1,000–3,0002,000Net (decrease) increase in CORRA loans(30,000)(35,000)18,00020,000Payment of lease liabilities(1,509)(1,488)(4,454)(4,307)Redemption of shares(176)(216)(650)(1,055)Dividends paid––(1,249)(2,105)Net Cash Flows from Financing Activities(30,685)(36,704)14,64714,533 Investing Activities Acquisition of property, plant and equipment(1,382)(1,009)(4,162)(2,519)Acquisition of intangible assets(28)(15)(132)(25)Proceeds on disposal of property, plant and equipment–31012Other assets(39)9(12)(549)Net Cash Flows from Investing Activities(1,449)(1,012)(4,296)(3,081) Net increase (decrease) in cash1,107936(734)4,697Cash (bank indebtedness), beginning of period1,3623,1623,203(599)Cash (bank indebtedness), end of period2,4694,0982,4694,098 Cash position is comprised of: Cash4,3254,0984,3254,098Bank overdraft(1,856)–(1,856)– 2,4694,0982,4694,098 This advertisement has not loaded yet, but your article continues below.GOODFELLOW INC.Consolidated Statements of Changes in Shareholders’ Equity For the nine months ended August 31, 2026 and 2025(in thousands of dollars)Unaudited ShareCapitalRetainedEarningsTotal $$$ Balance as at November 30, 20249,309196,899206,208 Net earnings–3,9433,943 Total comprehensive income–3,9433,943 Dividend–(2,105)(2,105)Share-based compensation–8989Redemption of Shares(95)(960)(1,055) Balance as at August 31, 20259,214197,866207,080 Balance as at November 30, 20259,184198,445207,629 Net earnings–1,1701,170 Total comprehensive income–1,1701,170 Dividend–(1,249)(1,249)Share-based compensation–308308Redemption of Shares(61)(589)(650) Balance as at August 31, 20269,123198,085207,208 From: Goodfellow Inc. Patrick Goodfellow President and CEO T: 450 635-6511 F: 450 635-3730 info@goodfellowinc.com This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.