Goodfellow Inc. announced its financial results for the 3Q ended August 31, 2021. The Company reported a net income of $10 million or $1.17 per share compared to a net income of $6.7 million or $0.78 per share a year ago. Sales for the three months ended August 31, 2021 were $168 million compared to $138.8 million last year.
For the nine months ended August 31, 2021, the Company reported a net income of $27.8 million or $3.24 per share compared to a net income of $8 million or $0.94 per share a year ago. Sales were $472.9 million compared to $331.5 million last year.
3Q results of fiscal 2021 were characteristic for the period, which is considered the driver of the seasonal product business. At the onset of July, market conditions were increasingly difficult with the commodity pricing crisis that played havoc with demand in all sectors. Also, new home construction, renovation, manufacturing and industrial sectors showed some signs of slowing. Goodfellow was able to rely on its diversified offering and value-added capabilities to retain market share and continue on a positive trend.
Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings.
