Stella-Jones reports Q1, 2024 net income of $77 million

Stella-Jones Inc.
May 8, 2024
Category: Finance & Economics
Region: Canada, Canada East

MONTREAL, Quebec — Stella-Jones announced financial results for its first quarter ended March 31, 2024. Sales in the first quarter of 2024 were up 9% to $775 million, compared to $710 million last year. Excluding the contribution from the acquisition of Baldwin Pole and Piling Company, sales were up , or 7%. The increase was driven by a 10% organic sales growth of the Company’s infrastructure businesses, namely utility poles, railway ties and industrial products, partially offset by lower residential lumber and logs and lumber sales when compared to the same period last year. …Record first quarter EBITDA was up 30% to $156 million, a margin of 20.1% and net income of $77 million was up 32% from Q1 2023. Eric Vachon, CEO of Stella-Jones, said “Our Q1 performance reflects the ongoing robust fundamental market trends in our infrastructure product categories and an improvement over our solid fourth quarter results.”

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