The market has changed in the last couple yearsBack in the day hyper active trade management was a good way to gain an edgeNow it feels like the opposite is true and conviction is much more important as the market chops highly active traders to death ...

5/ 📊 Market dynamicsTotal market cap: rose by 3.8%, surpassing $4 trillionDaily trading volumes: fell by 7.5% to around $149 billionRead more 👉 https://t.co/cBW04tucVT ...

Financial Performance - Group Underlying EBITDA pre AASB 16 was stable at $236.4 million, despite customer changes and softer market conditions in the fourth quarter[14] - Australia's Underlying EBITDA pre AASB 16 decreased by 3.4% to $183.7 million due to Woolworths supply agreement changes and weaker trading in Q4 2025[16] - New Zealand's Underlying EBITDA pre AASB 16 increased significantly by 14.3% to $52.7 million, driven by favorable market economics, innovation, and brand investments[16] - Core poultry volume declined by 1.4% to 461.2kt, with Australia down 2.5% to 388.0kt and New Zealand up 5.2% to 73.2kt[16, 17] - The company declared dividends of 19.0 cents per share, a decrease of 1.0 cent per share compared to the prior corresponding period[17] Cost Management and Market Dynamics - Feed costs decreased by $57.2 million, contributing to overall cost savings[16, 38] - Net Selling Price (NSP) growth was modest at 0.5%, reaching $6.31/kg, masking significant wholesale pricing pressure[16, 29] - Wholesale pricing declined by 9.2% in FY25, impacting margins[29] Capital Expenditure and Future Outlook - Capital expenditure for FY25 totaled $104.1 million, focused on sustaining and investing projects[47, 48] - FY26 Underlying EBITDA (pre AASB 16) is expected to be between $215.0 million and $230.0 million, with a stronger performance anticipated in the second half of the year[102] - The company is implementing $60–$80 million of annualised structural cost reductions to largely offset general FY26 cost inflation[101]

Core Insights - Goodfellow Inc. reported a decline in net earnings for the second quarter of 2025, with net earnings of $2.5 million or $0.29 per share, down from $5.3 million or $0.62 per share in the same period last year [1][5] - Consolidated sales increased to $152.9 million in Q2 2025 from $140.3 million in Q2 2024, indicating a growth in revenue despite the drop in earnings [1][5] - For the first half of 2025, net earnings were $0.2 million or $0.02 per share, significantly lower than $5.2 million or $0.61 per share in the first half of 2024, while consolidated sales rose to $264.1 million from $245.7 million [2][5] Financial Performance - The company experienced a notable increase in consolidated sales, with Q2 2025 sales at $152.9 million compared to $140.3 million in Q2 2024, representing an increase of approximately 11.5% [1][5] - The cost of goods sold for Q2 2025 was $120.2 million, up from $106.2 million in Q2 2024, reflecting rising operational costs [5] - Selling, administrative, and general expenses also increased to $28.1 million in Q2 2025 from $26.1 million in Q2 2024 [5] Market Dynamics - The company's performance is influenced by challenging market dynamics and inflationary pressures on operational costs [3] - There has been a shift in consumer preference towards Canadian-sourced wood products, driven by concerns regarding U.S. trade policy, which has contributed to modest domestic demand and price stability [3] Company Overview - Goodfellow Inc. is a diversified manufacturer of value-added lumber products and a wholesale distributor of building materials and floor coverings, serving both commercial and residential sectors [4] - The company has a distribution network across Canada and the Northeastern U.S., and it also serves international lumber markets [4]