Eighteenth consecutive year of sales growth
- Sales increased 12.6% to $2.12 billion in fiscal 2018
- EBITDA up 0.5% to $244.4 million versus a year ago
- Net income and diluted EPS stood at $137.6 million and $1.98 per share for the year
- Quarterly dividend increased by 16.7% to $0.14 per share
- Solid financial position maintained with a total debt to EBITDA ratio of 2.1x
Montreal, Quebec – March 15, 2019 - Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced financial results for its fourth quarter and fiscal year ended December 31, 2018.
“We finished the year with very solid results. Sales for the quarter increased 14.7% to $432.8 million and EBITDA increased 10.0% to $41.8 million, despite a $7.9 million non-cash mark-to-market loss on derivative commodity contracts.
For the year, sales amounted to $2.1 billion and increased in all product categories, driven by a combination of sales price increases, market demand and acquisitions. Our EBITDA was up marginally for the year, while our net income was down primarily due to a one-off non-cash tax benefit resulting from the U.S. tax reform in 2017. Stella-Jones remains in a very healthy financial position and today announced a dividend increase, for the fifteenth consecutive year.
Looking to 2019, based on current market conditions, currencies and lumber prices, we expect Stella-Jones to generate higher year-over-year sales and margin improvement. As always, we will continue to remain focused on optimizing our operations across the organization while diligently seeking market opportunities in all product categories,” said Brian McManus, President and Chief Executive Officer.