A strong start to the year following record financial performance in 2023
- Sales of $775 million, up 9%, driven by organic sales growth in infrastructure product categories
- Record first quarter EBITDA up 30% to $156 million, a margin of 20.1%
- Net income of $77 million or $1.36 per share, up 32% from Q1 2023 EPS
Montreal, Quebec – May 8, 2024 - Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced financial results for its first quarter ended March 31, 2024.
“I am pleased with our performance in the first quarter, which marks a strong start to the year and builds upon the momentum we generated in 2023,” said Eric Vachon, President and Chief Executive Officer of Stella-Jones. “Our Q1 performance reflects the ongoing robust fundamental market trends in our infrastructure product categories and an improvement over our solid fourth quarter results. Although we noted a softer pace of purchases by utilities in recent quarters, we are confident that incremental multi-year volume commitments secured from new and existing customers will be realized, highlighting the enduring growth potential of our business.”
“The sustained strength of our results is a testament to our focus on growing our infrastructure business and leveraging our unique competitive advantages. We are drawing on the strength of our customer relationships and expansive network to capitalize on growth opportunities and deliver on our strategic objectives,” concluded Mr. Vachon.
Source: Stella-Jones
