Goodfellow Inc. announced its financial results for the Q2 of fiscal year 2023. For the three months ended May 31, 2023, the Company reported net earnings of $6.6 million or $0.77 per share compared to net earnings of $12.5 million or $1.46 per share a year ago, while consolidated sales were $142.3 million compared to $184.9 million last year.
For the six months ended May 31, 2023, the Company reported net earnings of $6.4 million or $0.75 per share compared to net earnings of $17.7 million or $2.06 per share a year ago, while consolidated sales were $248.3 million compared to $314.3 million last year.
Given the slowing economy and widespread market uncertainty, the decline in seasonal demand was in line with expectations.
Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings.
