Doman Building Materials Group Ltd.

For Q2 2026, revenue was $904.5 million versus $886.7 million last year, up $17.8 million or 2%. Gross margin dollars were $145.8 million versus $142.7 million, and gross margin was 16.1%, unchanged year over year. EBITDA was $78.8 million versus $80.0 million in the prior-year quarter, and net earnings were $31.2 million versus $27.7 million. For the first six months of 2026, revenue was $1.67 billion, adjusted EBITDA was $147 million, gross margin percentage improved to 16.5%, and net earnings were $55.1 million versus $51.2 million a year ago. Management said it would not provide quarterly or future earnings guidance; in Q&A, it described July and early Q3 trends as “fairly similar” to Q2 and “steady as she goes.”

Amar Doman framed the quarter as evidence of the resilience of the diversified model, pointing to record revenue, stable margins, and improved net earnings despite uneven construction demand. He emphasized disciplined execution, operational efficiency, prudent working capital management, and returning cash to shareholders through the $0.14 quarterly dividend. On the outlook, he sounded cautious but constructive, saying the market remains influenced by economic uncertainty while Doman is well positioned because of its product mix, geographic footprint, and operating model.

Darren Gwozd walked through the quarter’s financial drivers in detail: sales of $904.5 million, gross margin dollars of $145.8 million, gross margin of 16.1%, expenses of $90.9 million, EBITDA of $78.8 million, and net earnings of $31.2 million. He said DS&A rose to $67.0 million, with about half of the increase tied to non-operational items, including earn-out costs from a prior acquisition, while finance costs fell to $17.6 million due to lower net debt and less revolver usage. On cash and capital allocation, six-month operating activities used $2.3 million of cash, the company generated $84.9 million of net revolver advances to support seasonal working capital, paid $24.6 million in dividends, invested $21 million in PP&E, and said it was not in breach of lending covenants.

Analysts asked how Q3 was trending versus Q2 and whether demand differed in Canada and the U.S.; management said July looked similar to Q2 and the environment remained steady but not especially bullish. On tariffs, Amar Doman said recent tariffs on Brazil and Canada are a net benefit to Doman and are driving more inquiry for fencing, especially as the company ramps U.S. fencing production and reduces imports. Questions on fencing initiatives and decking mix led management to highlight Gilmer’s ramp-up, Estill starting production soon, and ongoing opportunities to grow share with the largest U.S. home improvement retailer through accessories and expanded product lines.