Goodfellow Reports Its Results for the Second Quarter Ended May 31, 2024
Goodfellow Reports Its Results for the Second Quarter Ended May 31, 2024
Goodfellow continues to navigate a broader economic landscape characterized by low consumer confidence and sluggish new housing starts. These conditions have impacted industry growth and shifted demand towards different types of products within the Company's portfolio. Goodfellow's offering is well positioned to cater to this evolving demand, ensuring revenue and margin stability even as certain segments experience fluctuations.DELSON, Quebec, July 10, 2024 (GLOBE NEWSWIRE) -- Goodfellow Inc. (TSX: GDL) (the "Company" or "Goodfellow") announced today its financial results for the second quarter ended May 31, 2024.
魁北克德爾森，2024年7月10日（環球新聞專線）——古德費羅公司（多倫多證券交易所股票代碼：GDL）（“公司” 或 “Goodfellow”）今天公佈了截至2024年5月31日的第二季度財務業績。
The Company reported net earnings of $5.3 million or $0.62 per share compared to net earnings of $6.6 million or $0.77 per share a year ago. Consolidated sales for the three months ended May 31, 2024 were $140.3 million compared to $142.3 million last year.
該公司公佈的淨收益爲530萬美元，合每股收益0.62美元，而去年同期的淨收益爲660萬美元，合每股收益0.77美元。截至2024年5月31日的三個月，合併銷售額爲1.403億美元，而去年爲1.423億美元。
For the six months ended May 31, 2024, the Company reported net earnings of $5.2 million or $0.61 per share compared to net earnings of $6.4 million or $0.75 per share a year ago, while consolidated sales were $245.7 million compared to $248.3 million last year.
在截至2024年5月31日的六個月中，該公司公佈的淨收益爲520萬美元，合每股收益0.61美元，而去年同期的淨收益爲640萬美元，合每股收益0.75美元，而合併銷售額爲2.457億美元，去年爲2.483億美元。
Goodfellow continues to navigate a broader economic landscape characterized by low consumer confidence and sluggish new housing starts. These conditions have impacted industry growth and shifted demand towards different types of products within the Company's portfolio. Goodfellow's offering is well positioned to cater to this evolving demand, ensuring revenue and margin stability even as certain segments experience fluctuations.
古德費羅繼續在以消費者信心低迷和新屋開工緩慢爲特徵的更廣泛的經濟格局中航行。這些條件影響了行業增長，並將需求轉移到公司投資組合中不同類型的產品上。Goodfellow的產品完全有能力滿足這種不斷變化的需求，即使某些細分市場出現波動，也能確保收入和利潤的穩定性。
About Goodfellow
關於古德費羅
Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. Goodfellow has a distribution footprint from coast-to-coast in Canada servicing commercial and residential sectors through lumber yard retailer networks, manufacturers, industrial and infrastructure project partners, and floor covering specialists. Goodfellow also leverages its value-added product capabilities to serve lumber markets internationally. Goodfellow Inc. is a publicly traded company, and its shares are listed on the Toronto Stock Exchange under the symbol "GDL".
Goodfellow 是一家多元化的增值木材產品製造商，也是建築材料和地板覆蓋物的批發分銷商。Goodfellow 的分銷足跡遍及加拿大海岸，通過木材場零售商網絡、製造商、工業和基礎設施項目合作伙伴以及地板覆蓋專家爲商業和住宅領域提供服務。Goodfellow 還利用其增值產品能力爲國際木材市場提供服務。Goodfellow Inc. 是一家上市公司，其股票在多倫多證券交易所上市，股票代碼爲 “GDL”。
| GOODFELLOW INC. | ||||
| Consolidated Statements of Comprehensive Income | ||||
| For the three and six months ended May 31, 2024 and 2023 | ||||
| (in thousands of dollars, except per share amounts) | ||||
| Unaudited | ||||
| For the three months ended | For the six months ended | |||
|
May 31 2024 |
May 31 2023 |
May 31 2024 |
May 31 2023 |
|
| $ | $ | $ | $ | |
| Sales | 140,334 | 142,326 | 245,668 | 248,251 |
| Expenses | ||||
| Cost of goods sold | 106,199 | 110,034 | 188,745 | 194,294 |
| Selling, administrative and general expenses | 26,108 | 22,239 | 48,992 | 43,923 |
| Net financial costs | 652 | 921 | 707 | 1,195 |
| 132,959 | 133,194 | 238,444 | 239,412 | |
| Earnings before income taxes | 7,375 | 9,132 | 7,224 | 8,839 |
| Income taxes | 2,066 | 2,557 | 2,023 | 2,475 |
| Total comprehensive income | 5,309 | 6,575 | 5,201 | 6,364 |
| Net earnings per share – Basic and Diluted | 0.62 | 0.77 | 0.61 | 0.75 |
| GOODFELLOW INC | ||||
| 合併綜合收益表 | ||||
| 在截至2024年和2023年5月31日的三個月和六個月中 | ||||
| （以千美元計，每股金額除外） | ||||
| 未經審計 | ||||
| 在截至的三個月中 | 在截至的六個月中 | |||
| 5 月 31 日 2024 |
5 月 31 日 2023 |
5 月 31 日 2024 |
5 月 31 日 2023 |
|
| $ | $ | $ | $ | |
| 銷售 | 140,334 | 142,326 | 245,668 | 248,251 |
| 開支 | ||||
| 銷售商品的成本 | 106,199 | 110,034 | 188,745 | 194,294 |
| 銷售、管理和一般費用 | 26,108 | 22,239 | 48,992 | 43,923 |
| 淨財務成本 | 652 | 921 | 707 | 1,195 |
| 132,959 | 133,194 | 238,444 | 239,412 | |
| 所得稅前收益 | 7,375 | 9,132 | 7,224 | 8,839 |
| 所得稅 | 2,066 | 2,557 | 2,023 | 2475 |
| 綜合收入總額 | 5,309 | 6,575 | 5,201 | 6,364 |
| 每股淨收益——基本收益和攤薄收益 | 0.62 | 0.77 | 0.61 | 0.75 |
| GOODFELLOW INC. | |||
| Consolidated Statements of Financial Position | |||
| (in thousands of dollars) | |||
|
Unaudited |
|||
| As at | As at | As at | |
|
May 31 2024 |
November 30 2023 |
May 31 2023 |
|
| $ | $ | $ | |
| Assets | |||
| Current Assets | |||
| Cash | 4,822 | 28,379 | 3,171 |
| Trade and other receivables | 95,546 | 53,674 | 87,163 |
| Income taxes receivable | 7,286 | 6,286 | 6,001 |
| Inventories | 130,239 | 98,473 | 122,268 |
| Prepaid expenses | 2,536 | 4,215 | 2,263 |
| Total Current Assets | 240,429 | 191,027 | 220,866 |
| Non-Current Assets | |||
| Property, plant and equipment | 34,631 | 32,761 | 32,405 |
| Intangible assets | 1,192 | 1,487 | 1,795 |
| Right-of-use assets | 9,993 | 11,354 | 12,916 |
| Defined benefit plan asset | 15,264 | 15,347 | 11,760 |
| Other assets | 1,227 | 777 | 802 |
| Total Non-Current Assets | 62,307 | 61,726 | 59,678 |
| Total Assets | 302,736 | 252,753 | 280,544 |
| Liabilities | |||
| Current Liabilities | |||
| Bank indebtedness | 35,883 | - | 34,002 |
| Trade and other payables | 52,645 | 37,620 | 36,553 |
| Provision | 2,774 | 2,789 | 2,252 |
| Current portion of lease liabilities | 4,170 | 4,732 | 4,748 |
| Total Current Liabilities | 95,472 | 45,141 | 77,555 |
| Non-Current Liabilities | |||
| Provision | - | - | 770 |
| Lease liabilities | 7,373 | 8,497 | 10,189 |
| Deferred income taxes | 4,112 | 4,112 | 3,431 |
| Total Non-Current Liabilities | 11,485 | 12,609 | 14,390 |
| Total Liabilities | 106,957 | 57,750 | 91,945 |
| Shareholders' Equity | |||
| Share capital | 9,366 | 9,379 | 9,394 |
| Retained earnings | 186,413 | 185,624 | 179,205 |
| 195,779 | 195,003 | 188,599 | |
| Total Liabilities and Shareholders' Equity | 302,736 | 252,753 | 280,544 |
| GOODFELLOW INC | |||
| 合併財務狀況表 | |||
| （以千美元計） | |||
| 未經審計 |
|||
| 截至目前 | 截至目前 | 截至目前 | |
| 5 月 31 日 2024 |
11 月 30 日 2023 |
5 月 31 日 2023 |
|
| $ | $ | $ | |
| 資產 | |||
| 流動資產 | |||
| 現金 | 4,822 | 28,379 | 3,171 |
| 貿易和其他應收賬款 | 95,546 | 53,674 | 87,163 |
| 應收所得稅 | 7,286 | 6,286 | 6,001 |
| 庫存 | 130,239 | 98,473 | 122,268 |
| 預付費用 | 2,536 | 4,215 | 2,263 |
| 流動資產總額 | 240,429 | 191,027 | 220,866 |
| 非流動資產 | |||
| 財產、廠房和設備 | 34,631 | 32,761 | 32,405 |
| 無形資產 | 1,192 | 1,487 | 1,795 |
| 使用權資產 | 9,993 | 11,354 | 12,916 |
| 固定福利計劃資產 | 15,264 | 15,347 | 11,760 |
| 其他資產 | 1,227 | 777 | 802 |
| 非流動資產總額 | 62,307 | 61,726 | 59,678 |
| 總資產 | 302,736 | 252,753 | 280,544 |
| 負債 | |||
| 流動負債 | |||
| 銀行債務 | 35,883 | - | 34,002 |
| 貿易和其他應付賬款 | 52,645 | 37,620 | 36,553 |
| 規定 | 2,774 | 2,789 | 2,252 |
| 租賃負債的流動部分 | 4,170 | 4,732 | 4,748 |
| 流動負債總額 | 95,472 | 45,141 | 77,555 |
| 非流動負債 | |||
| 規定 | - | - | 770 |
| 租賃負債 | 7,373 | 8,497 | 10,189 |
| 遞延所得稅 | 4,112 | 4,112 | 3,431 |
| 非流動負債總額 | 11,485 | 12,609 | 14,390 |
| 負債總額 | 106,957 | 57,750 | 91,945 |
| 股東權益 | |||
| 股本 | 9,366 | 9,379 | 9,394 |
| 留存收益 | 186,413 | 185,624 | 179,205 |
| 195,779 | 195,003 | 188,599 | |
| 負債和股東權益總額 | 302,736 | 252,753 | 280,544 |
| GOODFELLOW INC. | ||||
| Consolidated Statements of Cash Flows | ||||
| For the three and six months ended May 31, 2024 and May 31, 2023 | ||||
|
(in thousands of dollars) Unaudited |
||||
| For the three months ended | For the six months ended | |||
| |
May 31 2024 |
May 31 2023 |
May 31 2024 |
May 31 2023 |
| $ | $ | $ | $ | |
| Operating Activities | ||||
| Net earnings | 5,309 | 6,575 | 5,201 | 6,364 |
| Adjustments for: | ||||
| Depreciation and amortization of: | ||||
| Property, plant and equipment | 882 | 795 | 1,717 | 1,540 |
| Intangible assets | 148 | 150 | 295 | 301 |
| Right-of-use assets | 1,089 | 1,188 | 2,123 | 2,445 |
| Gain on disposal of property, plant and equipment | (69) | (171) | (77) | (181) |
| Accretion expense on provision | - | 68 | - | 136 |
| Provision | (4) | (7) | (15) | (29) |
| Income taxes | 2,066 | 2,557 | 2,023 | 2,475 |
| Interest expense | 330 | 481 | 375 | 569 |
| Interest on lease liabilities | 137 | 158 | 274 | 140 |
| Funding in excess (deficit) of pension plan expense | 189 | (70) | 83 | (140) |
| Other | 7 | (10) | 8 | (139) |
| 10,084 | 11,714 | 12,007 | 13,481 | |
| Changes in non-cash working capital items | (24,366) | (15,844) | (56,876) | (32,124) |
| Interest paid | (518) | (632) | (707) | (740) |
| Income taxes paid | (1,098) | (3,019) | (3,023) | (6,037) |
| (25,982) | (19,495) | (60,606) | (38,901) | |
| Net Cash Flows from Operating Activities | (15,898) | (7,781) | (48,599) | (25,420) |
| Financing Activities | ||||
| Net increase (decrease) in bank loans | 6,000 | (2,000) | 6,000 | - |
| Net increase in banker's acceptances | - | 23,000 | - | 28,000 |
| Net increase in CORRA loans | 18,000 | - | 18,000 | - |
| Payment of lease liabilities | (1,257) | (1,287) | (2,456) | (2,792) |
| Redemption of shares | (50) | (150) | (169) | (270) |
| Dividends paid | (4,256) | (4,274) | (4,256) | (4,274) |
| Net Cash Flows from Financing Activities | 18,437 | 15,289 | 17,119 | 20,664 |
| Investing Activities | ||||
| Acquisition of property, plant and equipment | (2,618) | (839) | (3,900) | (1,683) |
| Proceeds on disposal of property, plant and equipment | 382 | 178 | 390 | 188 |
| Other assets | (450) | - | (450) | - |
| Net Cash Flows from Investing Activities | (2,686) | (661) | (3,960) | (1,495) |
| Net cash (outflow) inflow | (147) | 6,847 | (35,440) | (6,251) |
| Cash position, beginning of period | (6,914) | (9,678) | 28,379 | 3,420 |
| Cash position, end of period | (7,061) | (2,831) | (7,061) | (2,831) |
| GOODFELLOW INC | ||||
| 合併現金流量表 | ||||
| 在截至2024年5月31日和2023年5月31日的三個月和六個月中 | ||||
| （以千美元計） 未經審計 |
||||
| 在結束的三個月裏 | 在截至的六個月中 | |||
| |
5 月 31 日 2024 |
5 月 31 日 2023 |
5 月 31 日 2024 |
5 月 31 日 2023 |
| $ | $ | $ | $ | |
| 運營活動 | ||||
| 淨收益 | 5,309 | 6,575 | 5,201 | 6,364 |
| 對以下各項的調整： | ||||
| 折舊和攤銷： | ||||
| 財產、廠房和設備 | 882 | 795 | 1,717 | 1,540 |
| 無形資產 | 148 | 150 | 295 | 301 |
| 使用權資產 | 1,089 | 1,188 | 2,123 | 2,445 |
| 處置不動產、廠房和設備的收益 | (69) | (171) | (77) | (181) |
| 撥備金的增撥費用 | - | 68 | - | 136 |
| 規定 | (4) | (7) | (15) | (29) |
| 所得稅 | 2,066 | 2,557 | 2,023 | 2475 |
| 利息支出 | 330 | 481 | 375 | 569 |
| 租賃負債的利息 | 137 | 158 | 274 | 140 |
| 資金超過養老金計劃支出（赤字） | 189 | (70) | 83 | (140) |
| 其他 | 7 | (10) | 8 | (139) |
| 10,084 | 11,714 | 12,007 | 13,481 | |
| 非現金營運資金項目的變化 | (24,366) | (15,844) | (56,876) | (32,124) |
| 已付利息 | (518) | (632) | (707) | (740) |
| 繳納的所得稅 | (1,098) | (3,019) | (3,023) | (6,037) |
| (25,982) | (19,495) | (60,606) | (38,901) | |
| 經營活動產生的淨現金流量 | (15,898) | (7,781) | (48,599) | (25,420) |
| 融資活動 | ||||
| 銀行貸款淨增加（減少） | 6,000 | (2,000) | 6,0000 | - |
| 銀行承兌匯票淨增加 | - | 23,000 | - | 28,000 |
| CORRA貸款淨增加 | 18,000 | - | 18,000 | - |
| 支付租賃負債 | (1,257) | (1,287) | (2,456) | (2,792) |
| 贖回股份 | (50) | (150) | (169) | (270) |
| 已支付的股息 | (4,256) | (4,274) | (4,256) | (4,274) |
| 來自融資活動的淨現金流 | 18,437 | 15,289 | 17,119 | 20,664 |
| 投資活動 | ||||
| 購置不動產、廠房和設備 | (2,618) | (839) | (3,900) | (1,683) |
| 處置不動產、廠房和設備的收益 | 382 | 178 | 390 | 188 |
| 其他資產 | (450) | - | (450) | - |
| 來自投資活動的淨現金流 | (2,686) | (661) | (3,960) | (1,495) |
| 淨現金（流出）流入 | (147) | 6,847 | (35,440) | (6,251) |
| 期初現金狀況 | (6,914) | (9,678) | 28,379 | 3,420 |
| 現金狀況，期末 | (7,061) | (2,831) | (7,061) | (2,831) |
| GOODFELLOW INC. | |||
| Consolidated Statements of Changes in Shareholders' Equity | |||
| For the six months ended May 31, 2024 and May 31, 2023 | |||
|
(in thousands of dollars) Unaudited | |||
|
Share Capital |
Retained Earnings |
Total | |
| $ | $ | $ | |
| Balance as at November 30, 2022 | 9,419 | 177,360 | 186,779 |
| Net earnings | - | 6,364 | 6,364 |
| Total comprehensive income | - | 6,364 | 6,364 |
| Dividend | - | (4,274) | (4,274) |
| Redemption of Shares | (25) | (245) | (270) |
| Balance as at May 31, 2023 | 9,394 | 179,205 | 188,599 |
| Balance as at November 30, 2023 | 9,379 | 185,624 | 195,003 |
| Net earnings | - | 5,201 | 5,201 |
| Total comprehensive income | - | 5,201 | 5,201 |
| Dividend | - | (4,256) | (4,256) |
| Redemption of Shares | (13) | (156) | (169) |
| Balance as at May 31, 2024 | 9,366 | 186,413 | 195,779 |
| GOODFELLOW INC | |||
| 股東權益變動綜合報表 | |||
| 在截至2024年5月31日和2023年5月31日的六個月中 | |||
| （以千美元計） 未經審計 | |||
| 分享 資本 |
已保留 收益 |
總計 | |
| $ | $ | $ | |
| 截至2022年11月30日的餘額 | 9,419 | 177,360 | 186,779 |
| 淨收益 | - | 6,364 | 6,364 |
| 綜合收入總額 | - | 6,364 | 6,364 |
| 分紅 | - | (4,274) | (4,274) |
| 贖回股份 | (25) | (245) | (270) |
| 截至 2023 年 5 月 31 日的餘額 | 9,394 | 179,205 | 188,599 |
| 截至 2023 年 11 月 30 日的餘額 | 9,379 | 185,624 | 195,003 |
| 淨收益 | - | 5,201 | 5,201 |
| 綜合收入總額 | - | 5,201 | 5,201 |
| 分紅 | - | (4,256) | (4,256) |
| 贖回股份 | (13) | (156) | (169) |
| 截至2024年5月31日的餘額 | 9,366 | 186,413 | 195,779 |
| From: | Goodfellow Inc. |
| Patrick Goodfellow | |
| President and CEO | |
| T: 450 635-6511 | |
| F: 450 635-3730 | |
| info@goodfellowinc.com |
| 來自： | Goodfellow Inc. |
| 帕特里克·古德費羅 | |
| 總裁兼首席執行官 | |
| 電話：450 635-6511 | |
| F: 450 635-3730 | |
| info@goodfellowinc.com |
譯文內容由第三人軟體翻譯。