Doman Building Materials Group (DBM) Q1 2025 earnings summary

Executive summary

• Q1 2025 delivered record financial and operational results, with revenue reaching $793.2 million, up from $602.5 million year-over-year, driven by strategic acquisitions, steady volumes, and disciplined inventory management despite macroeconomic and geopolitical volatility.

• Gross margin dollars increased to $132.5 million, with gross margin percentage steady at 16.7%.

• EBITDA reached $78 million, a 56.4% increase from $44.8 million in Q1 2024; adjusted EBITDA hit a record $70.0 million, up from $45.6 million in the prior year.

• Net earnings for the quarter were $23.6 million, compared to $14.4 million in Q1 2024.

• The business platform showed resilience across Canada and the U.S., with particular strength in the rapidly growing U.S. footprint.

Financial highlights

• Q1 2025 revenue was $793.2 million, up 31.7% year-over-year from $602.5 million, mainly due to acquisitions and strong legacy operations.

• Gross margin was $132.5 million (16.7%), up from $100.4 million (16.7%) in Q1 2024.

• Adjusted EBITDA increased by 53% year-over-year, reaching $70.0 million.

• Net earnings rose 64% compared to Q1 2024, reaching $23.6 million.

• Quarterly dividend of $0.14 per share was declared and paid in April 2025.

Outlook and guidance

• Optimism for continued demand and momentum into Q2, with a cautious approach due to external pressures and market uncertainties.

• Management remains focused on cost control, balance sheet strength, and debt reduction amid market volatility.

• No formal earnings guidance will be provided for future quarters.

• Forward-looking statements highlight ongoing market uncertainty, commodity pricing, and economic conditions as key variables.