Decreased Selling Prices Impacts Taiga Sales

Taiga Building Products Ltd. had sales of $484.6 million for the third quarter of 2021, a three per cent decrease over sales of $500.7 million in the third quarter of 2020. The decrease was largely due to decreased selling prices for commodity products. Gross margin for the quarter decreased to $7.6 million from $91.5 million year-over-year and gross margin percentage was 1.6 per cent compared to 18.3 per cent. The company had a net loss of $5.2 million in the third quarter, compared to net earnings of $33.4 million last year, primarily due to decreased gross margin. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter was a loss of $1.8 million compared to a gain of $50.5 million last year.