Stella-Jones Delivers Positive Third Quarter Results

By Stella-Jones Inc.
Globe Newswire
November 9, 2022
Category: Finance & Economics
Region: Canada, Canada East

MONTREAL — Stella-Jones announced financial results for its third quarter ended September 30, 2022. …Sales for the third quarter of 2022 increased by 24% to $842 million, compared to sales of $679 million for the same period in 2021. Excluding the $17 million favourable impact of currency conversion and the contribution from the acquisitions of Cahaba Pressure Treated Forest Products and Cahaba Timber of $17 million, pressure-treated wood sales rose by $125 million, while sales of logs and lumber remained relatively stable. Pressure-treated wood sales attributable to infrastructure-related businesses, namely utility poles, railway ties and industrial products, grew by 15% and residential lumber sales increased by over 30% compared to the lower sales experienced in the same period last year. …“Stella-Jones delivered strong results this quarter, reflecting the robust growth of our infrastructure-related product sales and the normalization of residential lumber sales,” said CEO Éric Vachon.

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