DELSON, Quebec, July 10, 2026 (GLOBE NEWSWIRE) -- Goodfellow Inc. (TSX: GDL) (the “Company” or “Goodfellow”) announced today its financial results for the second quarter ended May 31, 2026.

For the three months ended May 31, 2026, Goodfellow reported net earnings of $2.1 million or $0.25 per share compared to net earnings of $2.5 million or $0.29 per share a year ago, while consolidated sales were $142.7 million compared to $152.9 million last year.

For the six months ended May 31, 2026, the Company reported a net loss of $1.1 million or $(0.13) per share compared to net earnings of $0.2 million or $0.02 per share a year ago, while consolidated sales were $251.4 million compared to $264.1 million last year.

At the midpoint of fiscal 2026, Goodfellow continued to operate in a complex environment characterized by persistent macroeconomic uncertainty, difficult housing market conditions, softer consumer demand and pricing volatility. Customers maintained a disciplined approach to purchasing and inventory management, contributing to a slower start to the building season, while regional differences in construction activity resulted in uneven market conditions across the Company's operating network. Performance for the first half of the year reflects these ongoing challenges. Goodfellow remains well positioned for future growth through its strong balance sheet, diversified product offering and continued focus on delivering exceptional customer service as market conditions improve.

About Goodfellow

Goodfellow 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”.

¹ 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 instead of cost of goods sold (with no impact to any associated subtotals or totals). The comparative financial information for the second quarter 2025 has been restated for this presentation adjustment. The impact was a decrease to selling, administrative and general expenses for the three months ended May 31, 2025 of $6,074 and for the six months ended May 31, 2025 of $12,061, 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.