Goodfellow Inc. announced its financial results for the Q1 ended February 29, 2024. The Company reported a net loss of $108 thousand or $0.01 per share compared to a net loss of $211 thousand or $0.02 per share a year ago.
Consolidated sales for the three months ended February 29, 2024 were $105.3 million compared to $105.9 million last year. Though under pressure from lingering inflation and cautious consumer sentiment, Goodfellow achieved a comparable overall financial performance in the first quarter thanks to its diversified product offering, expertise in value-added services, and efficient distribution systems, as well as its strong, debt-free balance sheet.
With uncertain economic conditions ahead, the Company will continue to protect margins and seize opportunities for growth with new and existing customers.
Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings.
