Goodfellow Reports its Results for the First Quarter Ended February 28, 2026

This section is Partnership Content suppliedThe content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Article contentDELSON, Quebec, April 08, 2026 (GLOBE NEWSWIRE) — Goodfellow Inc. (TSX: GDL) (the “Company” or “Goodfellow”) announced today its financial results for the first quarter ended February 28, 2026.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentFor the three months ended February 28, 2026, Goodfellow reported a net loss of $3.1 million or $0.38 per share compared to a net loss of $2.3 million or $0.27 per share a year ago, while consolidated sales were $108.7 million compared to $111.2 million last year.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentFirst quarter results reflect a resilient performance relative to extremely challenging market conditions. An excessively cold winter set against a backdrop of continued economic uncertainty, elevated interest rates and high household debt levels have compromised consumer confidence. Tariff concerns weighed on construction activity and customer demand, particularly in Central Canada. Goodfellow leveraged its diversified product offering, disciplined inventory management and strong customer relationships to navigate margin pressures and regional disparities. The Company anticipates continued market uncertainty, with Q2 seasonal demand offering some support in achieving critical sales volumes. In this environment, Goodfellow remains focused on operational discipline, margin management and capturing opportunities in value-added and infrastructure-driven segments as market conditions evolve.Article contentArticle contentAbout GoodfellowArticle contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentGoodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. With a distribution footprint from coast-to-coast in Canada and in the Northeastern U.S., Goodfellow effectively serves 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”.Article contentGOODFELLOW INC. Consolidated Statements of Comprehensive Income For the three months ended February 28, 2026 and 2025 (in thousands of dollars, except per share amounts)Unaudited February 282026February 282025(Restated)1 $$ Sales108,729 111,180 Expenses Cost of goods sold90,235 91,700 Selling, administrative and general expenses22,007 21,832 Net financial costs837 786 113,079 114,318 Loss before income taxes(4,350)(3,138) Income taxes(1,218)(878) Total comprehensive loss(3,132)(2,260) Net loss -per share –Basic(0.38)(0.27)-per share –Diluted(0.36)(0.27)Article contentArticle content1 In the fourth quarter of 2025, the Company corrected an error in presentation for certain production related expenses that were recognized as selling, administrative and general expenses and recording them to cost of goods sold (with no impact to any associated subtotals or totals). The comparative financial information for the first quarter 2025 has been restated for this presentation adjustment. The impact was a decrease to selling, administrative and general expenses for $5,987, with a corresponding increase to cost of goods sold. This presentation adjustment has no impact on earnings before income taxes or net earnings. The presentation adjustment also had no impact on the consolidated statement of financial position, statement of cash flows and statement of changes in shareholders equity.Article contentGOODFELLOW INC. Consolidated Statements of Financial Position (in thousands of dollars) Unaudited As atAs atAs at February 282026November 302025February 282025 $$$Assets Current Assets Cash4,1173,7674,237Trade and other receivables64,21455,47169,995Income taxes receivable3,3571,3607,513Inventories165,175144,484158,879Prepaid expenses5,2313,1684,051Total Current Assets242,094208,250244,675 Non-Current Assets Property, plant and equipment42,21842,62543,552Intangible assets309381751Right-of-use assets18,39419,30420,863Defined benefit plan asset21,54021,73921,747Deferred income taxes–744–Other assets1,9361,8751,327Total Non-Current Assets84,39786,66888,240Total Assets326,491294,918332,915 Liabilities Current Liabilities Bank indebtedness44,48817,56442,385Trade and other payables52,04142,62955,494Provision625624818Dividends payable1,249–2,105Current portion of lease liabilities6,4156,4856,418Total Current Liabilities104,81867,302107,220 Non-Current Liabilities Lease liabilities13,73914,55115,985Deferred income taxes4,6925,4368,303Total Non-Current Liabilities18,43119,98724,288Total Liabilities123,24987,289131,508 Shareholders’ Equity Share capital9,1679,1849,271Retained earnings194,075198,445192,136 203,242207,629201,407Total Liabilities and Shareholders’ Equity326,491294,918332,915Trending Doritos at US$7 a bag ended up costing PepsiCo billions Retail & Marketing Canadian pension plans are so healthy that employers are taking a contribution 'holiday,' says Mercer Retirement Facing the loss of government disability benefits, Ian wonders if CPP, OAS and a small inheritance will be enough Personal Finance BYD to open 20 car dealerships in Canada this year Autos Canada's accountant shortage is starting to add up despite quieter tax season Personal Finance Article contentGOODFELLOW INC. Consolidated Statements of Cash Flows For the three months ended February 28, 2026 and 2025 (in thousands of dollars)Unaudited February 282026February 282025 $$Operating Activities Net loss(3,132)(2,260)Adjustments for: Depreciation and amortization of: Property, plant and equipment1,213 1,262 Intangible assets150 145 Right-of-use assets1,489 1,495 Gain on disposal of property, plant and equipment(10)(6)Provision1 (112)Income taxes(1,218)(878)Interest expense321 239 Interest on lease liabilities330 341 Funding in excess of pension plan expense199 178 Share-based compensation317 – Other(53)(58) (393)346 Changes in non-cash working capital items(22,207)(34,562)Interest paid(672)(545)Income taxes paid(779)(1) (23,658)(35,108)Net Cash Flows from Operating Activities(24,051)(34,762) Financing Activities Net increase in bank loans2,000 4,000 Net increase in CORRA loans23,000 24,000 Payment of lease liabilities(1,480)(1,435)Redemption of shares(179)(436)Net Cash Flows from Financing Activities23,341 26,129 Investing Activities Acquisition of property, plant and equipment(806)(931)Acquisition of intangible assets(78)– Proceeds on disposal of property, plant and equipment10 6 Other assets10 9 Net Cash Flows from Investing Activities(864)(916) Net decrease in cash(1,574)(9,549)Cash (bank indebtedness), beginning of period3,203 (599)Cash (bank indebtedness), end of period1,629 (10,148) Cash position is comprised of: Cash4,117 4,237 Bank overdraft(2,488)(14,385) 1,629 (10,148)Article contentArticle contentGOODFELLOW INC. Consolidated Statements of Changes in Shareholders’ Equity For the three months ended February 28, 2026 and 2025 (in thousands of dollars) Unaudited ShareCapitalRetainedEarningsTotal $$$ Balance as at November 30, 20249,309 196,899 206,208 Net loss– (2,260)(2,260) Total comprehensive loss– (2,260)(2,260) Dividend– (2,105)(2,105)Redemption of Shares(38)(398)(436) Balance as at February 28, 20259,271 192,136 201,407 Balance as at November 30, 20259,184 198,445 207,629 Net loss– (3,132)(3,132) Total comprehensive loss– (3,132)(3,132) Dividend– (1,249)(1,249)Share-Based compensation– 173 173 Redemption of Shares(17)(162)(179) Balance as at February 28, 20269,167 194,075 203,242 Article contentArticle contentFrom: Goodfellow Inc.

Patrick Goodfellow President and CEO T: 450 635-6511 F: 450 635-3730 info@goodfellowinc.comArticle contentArticle contentArticle contentArticle contentArticle contentArticle contentArticle contentShare this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Doritos at US$7 a bag ended up costing PepsiCo billions Retail & Marketing Canadian pension plans are so healthy that employers are taking a contribution 'holiday,' says Mercer Retirement Facing the loss of government disability benefits, Ian wonders if CPP, OAS and a small inheritance will be enough Personal Finance BYD to open 20 car dealerships in Canada this year Autos Canada's accountant shortage is starting to add up despite quieter tax season Personal Finance