- Sales of $972 million, up 7%
- 10% organic sales growth in infrastructure-related businesses
- EBITDA(1) of $175 million, or a margin(1) of 18%, up from 17% in Q2 2022
- Net income of $100 million, or $1.72 per share, up 14% from EPS in Q2 2022
- Completed acquisitions and projects to seize growing utility pole demand
Montreal, Quebec – August 9, 2023 - Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced financial results for its second quarter ended June 30, 2023.
“Stella-Jones is executing on its three-year growth plan with the achievement of another strong performance in the second quarter, reflecting the upward momentum generated by accelerating demand for our infrastructure-related products," said Eric Vachon, President and Chief Executive Officer of Stella-Jones. “Our second quarter results continued to benefit from higher pricing dynamics for utility poles, railway ties and industrial products, while residential lumber delivered sales in line with expectations."
"In the second half of the year, we expect replenished railway tie inventory levels and ongoing capital projects for utility poles to facilitate anticipated volume gains, while our recent acquisitions of Balfour Pole Co. and Baldwin Pole and Pilings' assets will further broaden the Company's presence across North America. Our performance so far this year aligns with our plan to continue to grow our infrastructure-related businesses, increase profitability, as evidenced by the strong EBITDA margin generated in the second quarter, and to return capital and drive value for our shareholders. Managing capital projects, acquisitions and strong organic growth requires the resourcefulness and agility of our team of experts, and I am proud to recognize their invaluable contribution to our business.
Legal Notice: Paper Advance is not responsible for the accuracy or availability of content on external websites.