04:14 PM EST, 03/07/2024 (MT Newswires) -- Doman Building Materials Group Ltd. ( CWXZF ) announced Thursday its fourth quarter and full year 2023 financial results for the period ending Dec. 31, 2023.

For the year, consolidated revenues were $2.5 billion, compared to $3.0 billion in 2022, with the decrease largely due to the impact of lower construction materials pricing, which resulted in lower average pricing for lumber, plywood and OSB during the current year.

"Despite the impact of significantly lower year-over-year construction materials pricing, our business units continued to show reslilience in volumes while delivering very strong gross margin performance," said Amar S. Doman, Chairman of the Board, in a statement. "While there remain macroeconomic uncertainties, on the back of ending 2023 on solid footing, we remain enthusiastic and confident in seizing growth opportunities in our key markets."

Gross margin dollars were $402.7 million in 2023, versus $408.8 million in 2022. Gross margin percentage was 16.2% during the year, an increase from the 13.5% achieved in 2022, largely due to reduced volatility in construction materials pricing.

EBITDA was $196.1 million, compared to $203.2 million in 2022. The company declared a total of $0.56 per share in dividends in 2023, which was unchanged compared to 2022.

For the three-month period ending Dec. 31, 2023, revenues amounted to $527.4 million when compared to $572.9 million in the same period in 2022.

Net earnings amounted to $10.5 million, with a quarterly dividend of $0.14 per share declared.

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