Strong Overall Sales Growth
Total sales increased by 6.7% for the third quarter, driven by both internal growth and acquisitions. Sales in Canada rose by 2.9% and in the U.S., they increased by 11.4%.
Successful Acquisition Strategy
Two additional acquisitions were closed following the quarter, contributing to $75 million in additional annual sales. These acquisitions include Ideal Security and Finmac Lumber.
Improved Cash Flow and Inventory Management
Operations generated cash flows of $82.7 million in the third quarter, with a $16.2 million reduction in inventories. The company ended the period with a positive cash position of $12 million.
EBITDA and Earnings Growth
Third quarter EBITDA reached $57 million, up 7.7%, with a slight improvement in EBITDA margins to 11.4%. Diluted net earnings per share increased by 4.9% to $0.43.