Goodfellow Inc Reports Third Quarter Earnings Decline

DELSON, Quebec, Oct. 06, 2026 /CourierPR/ -- Goodfellow Inc., a diversified manufacturer of value-added lumber products and wholesale distributor of building materials and floor coverings, reported its financial results for the third quarter ended August 31, 2026. The company saw a decline in earnings, with net earnings of $2.3 million or $0.27 per share, down from $3.7 million or $0.45 per share in the same period last year. Consolidated sales for the quarter amounted to $145.7 million, slightly higher than the $141.9 million reported in the third quarter of 2025.

For the first nine months of 2026, Goodfellow’s net earnings stood at $1.2 million or $0.14 per share, compared to $3.9 million or $0.47 per share in the corresponding period of 2025. The company’s consolidated sales for the nine months ended August 31, 2026, were $397.1 million, a slight decrease from the $406.0 million reported in the first nine months of 2025.

In a statement, the company attributed the mixed performance to the uncertain trade policies and their impact on residential construction activity and consumer confidence in certain regions. Despite the challenges, the company noted that demand remained relatively stable in select commercial, industrial, and infrastructure-related markets.

Goodfellow’s 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).

In a recent correction, Goodfellow disclosed that in the fourth quarter of 2025, the company had corrected an error in the presentation of certain production-related expenses. These expenses, which were initially recognized as selling, administrative, and general expenses, were reclassified as cost of goods sold. The correction resulted in a decrease of $5,528 in selling, administrative, and general expenses for the three months ended August 31, 2025, and a corresponding increase of $17,589 in cost of goods sold for the nine months ended August 31, 2025. This adjustment had no impact on earnings before income taxes or net earnings.

With these results, Goodfellow Inc. continues to navigate the complexities of the Canadian lumber and building materials sector, focusing on maintaining stability in key markets while addressing the broader economic challenges.