- Sales of $915 million compared to $949 million in prior year quarter
- Operating income of $130 million, a decrease of $36 million year over year
- EBITDA(1) of $162 million, or 17.7% margin(1)
- Net income of $80 million or $1.42 per share
- Three-year objectives updated to sales of approximately $3.6 billion and EBITDA margin > 17%
- Normal Course Issuer Bid announced for 2024-2025
MONTREAL, Nov. 06, 2024 - Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced financial results for its third quarter ended September 30, 2024.
“Stella-Jones' strategy is, as always, rooted in the long-term growth of our resilient infrastructure business. In the third quarter, despite strong long-term demand tailwinds, we witnessed a slower pace of purchases by our utility customers. Though total sales were lower than anticipated, we delivered a solid quarter EBITDA margin of 17.7% and strong operating cashflows,” said Eric Vachon, President and Chief Executive Officer of Stella-Jones. “Year-to-date, sales were higher and our profit margins remained above target levels. Based on utilities' current purchasing behaviour and the Company's solid margin performance, we are updating our three-year financial objectives to sales of approximately $3.6 billion by 2025 and an EBITDA margin of more than 17%.”
“Utilities continue to forecast meaningful increases in infrastructure investments, evidenced by the longer-term sales contracts secured from new and existing customers. These commitments support our confidence in the solid and sustained growth in demand for utility poles. With our compelling infrastructure offering, robust available capacity and strong balance sheet, we are enthusiastic about the opportunities for continued growth and enhanced profitability,” concluded Mr. Vachon.
Source: Stella-Jones
