RY 169.88 -1.0542% SHOP 144.59 -0.959% TD 77.85 -0.1667% ENB 59.62 -0.5505% BN 78.53 -0.971% TRI 223.92 -0.2495% CNQ 47.03 -0.0213% CP 102.49 -0.5627% CNR 147.77 -0.8787% BMO 131.32 -0.0685% BNS 78.4 0.0255% CSU 4463.7002 0.6222% CM 90.42 0.6344% MFC 44.91 -1.3184% ATD 77.0 -0.7604% NGT 60.01 -0.4149% TRP 68.0 -2.2989% SU 56.965 -0.4282% WCN 260.14 -0.653% L 176.45 0.7135%

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Doman Building (TSX: DBM) expects aging housing stock, WFH to boost spending on repairs and renovations

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Highlights

Doman Building Materials Group Ltd (TSX: DBM) is a vertically integrated global building materials group that supplies a wide range of high-quality products to customers across North America. As of July 15, 2024, it has a market capitalization of CAD 590.94 million and the company’s annual dividend yield stands at a notable 8.24%.

In Q1 2024, the company’s total sales declined marginally by 1.1% to CAD 602.4mn, compared to CAD 609.1mn in pcp. The decline was due to lower sales from the building materials segment. The company posted slightly higher operating earnings on the back of lower cost of sales. Similarly, earnings before income taxes also declined by around 4% due to higher costs related to finance and acquisition. Overall, the company’s net earnings declined by 4% and stood at CAD 14.3 million.

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