For the three months ended August 31, 2025, the Company reported net earnings of $3.7 million or $0.45 per share compared to net earnings of $5.8 million or $0.68 per share a year ago. Consolidated sales were $142 million compared to $140 million last year.
For the nine months ended August 31, 2025, the Company reported net earnings of $3.9 million or $0.47 per share compared to net earnings of $11 million or $1.29 per share a year ago, while consolidated sales were $406 million compared to $385 million last year.
In the third quarter of 2025, Goodfellow navigated on-going varying economic conditions nationally by focusing on disciplined cost management, margin protection, and targeted growth opportunities in value-added products and specialty markets. These measures, combined with its diversified business model and customer-focused approach, resulted in higher turnover and sales.
The Board of Directors declared an eligible dividend of $0.35 per share payable on November 11, 2025 to shareholders of record at the close of business on October 28, 2025. 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.
About Goodfellow 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".
GOODFELLOW INC.
Consolidated Statements of Comprehensive Income
For the three and nine months ended August 31, 2025 and 2024
(in thousands of dollars, except per share amounts)
Unaudited
For the three months ended
For the nine months ended
August 31 2025
August 31 2024
August 31 2025
August 31 2024
$
$
$
$
Sales
141,910
139,668
406,030
385,336
Expenses
Cost of goods sold
106,690
105,280
312,594
294,025
Selling, administrative and general expenses
28,779
25,447
84,719
74,439
Net financial costs
1,242
955
3,240
1,662
136,711
131,682
400,553
370,126
Earnings before income taxes
5,199
7,986
5,477
15,210
Income taxes
1,456
2,236
1,534
4,259
Total comprehensive income
3,743
5,750
3,943
10,951
Net earnings per share, Basic
0.45
0.68
0.47
1.29
Net earnings per share, Diluted
0.44
0.68
0.47
1.29
GOODFELLOW INC.
Consolidated Statements of Financial Position
(in thousands of dollars)
Unaudited
As at
As at
As at
August 31 2025
November 30 2024
August 31 2024
$
$
$
Assets
Current Assets
Cash
4,098
5,314
6,273
Trade and other receivables
64,632
56,601
73,775
Income taxes receivable
5,003
6,634
4,849
Inventories
148,403
131,284
131,853
Prepaid expenses
1,640
4,047
2,101
Total Current Assets
223,776
203,880
218,851
Non-Current Assets
Property, plant and equipment
42,545
43,883
43,610
Intangible assets
483
896
1,044
Right-of-use assets
20,356
19,936
15,818
Defined benefit plan asset
21,385
21,925
15,325
