04:27 PM EDT, 08/12/2024 (MT Newswires) -- Taiga Building Products ( TGAFF ) at the close of trade Monday reported lower second-quarter earnings on lower volume sales.

News of the lower earnings for the quarter came after Taiga shares had jumped more than 10% during the session, buoyed by gains for the broader market today on higher commodity prices.

With Taiga, net earnings for the quarter ended June 30 fell 18% to $13.9 million, or $0.13 per share, from $16.99 million, or $0.16, in the year-prior quarter.

Sales for the quarter fell 4.3% $427.82 million from $446.9 million.

Gross margin for the quarter dropped to $44.46 million from $52.43 million over the same period last year. Gross margin percentage was 10.4% compared to 11.7% last year. The decrease in gross margin dollars was primarily due to selling lower quantities of commodity products during the quarter combined with fluctuating prices.

EBITDA for the quarter ended June 30, 2024 was $22.7 million compared to $28.0 million for the same period last year. EBITDA decreased primarily due to lower margin dollars earned during the quarter.

Taiga rose $0.38 or 10% to $4.00 on the Toronto Stock Exchange.