Doman Building Materials Group's 1Q 2022 consolidated revenues increased by 63.7% to $851.3 million, compared to $519.9 million in 2021, largely due to contributions from the Company’s 2021 acquisitions. The Company’s sales by product group in the quarter were made up of 81% construction materials, with the remaining balance of sales resulting from specialty and allied products of 16%, and other of 3%.
Gross margin dollars increased to $132.6 million, compared to $90.4 million in 2021. Gross margin percentage was 15.6%, representing a decrease from the 17.4% achieved in the same quarter of 2021.
EBITDA and Adjusted EBITDA for the 1Q 2022 amounted to $78.1 million, compared to $60.0 million in 2021.
“Our top-line results are demonstrative of the continued strength of our business platform in Canada and the U.S.," commented Amar S. Doman, Chairman of the Board. "I am extremely pleased with our financial performance, and the integration efforts around our recent acquisitions, which has resulted in the continued successful unfolding of our overall growth strategy. Although the economy is performing well, we are seeing general economic headwinds manifesting in inflation, increased interest rates along with price volatility in certain product categories. We remain focused on adapting and performing during these uncertain times, which is familiar territory for our team as we focus on growth and overall cost management.”
Doman is a leading North American distributor of building materials and is Canada's only fully integrated national distributor in the building materials and related products sector.
