Doman Building Materials Group Reports Strong Financial Results for Second Quarter
Revenue and Adjusted EBITDA Surge
Doman Building Materials Group Inc. (DBM), a leading supplier in the construction industry, has reported impressive financial results for the second quarter of 2024. The company's revenues reached $689.8 million, representing a significant increase compared to the previous quarter.
Key Financial Highlights
- Revenues of $689.8 million
- Gross Margin at 15.7%
- Adjusted EBITDA3 amounted to $506 million
- Net Earnings amounted to $170 million
The company's strong financial performance was driven by robust demand for construction materials. Adjusted EBITDA, a key measure of profitability, increased by over 10% year-over-year.
Dividend Declaration
In addition to its financial results, Doman Building Materials Group also announced a quarterly dividend of $0.14 per share. This dividend is payable on October 1, 2024, to shareholders of record as of September 15, 2024.
Conclusion
Doman Building Materials Group's impressive financial results for the second quarter demonstrate the company's continued strength and resilience in a challenging industry. The company's commitment to innovation, customer service, and operational efficiency is well-positioned for continued success in the coming quarters.
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