Goodfellow Reports its Results for the First Quarter Ended February 28, 2026

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DELSON, Quebec, April 08, 2026 (GLOBE NEWSWIRE) — Goodfellow Inc. (TSX: GDL) (the “Company” or “Goodfellow”) announced today its financial results for the first quarter ended February 28, 2026.

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For the three months ended February 28, 2026, Goodfellow reported a net loss of $3.1 million or $0.38 per share compared to a net loss of $2.3 million or $0.27 per share a year ago, while consolidated sales were $108.7 million compared to $111.2 million last year.

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First quarter results reflect a resilient performance relative to extremely challenging market conditions. An excessively cold winter set against a backdrop of continued economic uncertainty, elevated interest rates and high household debt levels have compromised consumer confidence. Tariff concerns weighed on construction activity and customer demand, particularly in Central Canada. Goodfellow leveraged its diversified product offering, disciplined inventory management and strong customer relationships to navigate margin pressures and regional disparities. The Company anticipates continued market uncertainty, with Q2 seasonal demand offering some support in achieving critical sales volumes. In this environment, Goodfellow remains focused on operational discipline, margin management and capturing opportunities in value-added and infrastructure-driven segments as market conditions evolve.

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About Goodfellow

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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”.

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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 and recording them to cost of goods sold (with no impact to any associated subtotals or totals). The comparative financial information for the first quarter 2025 has been restated for this presentation adjustment. The impact was a decrease to selling, administrative and general expenses for $5,987, 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.

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