- Sales increased 24% to $842 million, driven by all product categories
- EBITDA(1) rose by $50 million to $119 million, a margin of 14.1%
- Net income reached $65 million or $1.07 per share
- Completed acquisition of wood utility pole manufacturing business of Texas Electric Cooperatives, Inc.
- Returned $180 million to shareholders in the first nine months of 2022
- Announced a Normal Course Issuer Bid for 2022-2023
MONTREAL, Nov. 09, 2022 -- Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced financial results for its third quarter ended September 30, 2022.
“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 Éric Vachon, President and CEO of Stella-Jones. “Our performance demonstrates Stella-Jones’ ability to capitalize on growing utility poles demand, amplified by increased infrastructure spend and broadband network expansion programs. It also highlights the stability of our railway ties business and unique value proposition we deliver to our residential lumber customers. It is this resilience, in the face of inflationary pressures and supply chain constraints, that reaffirms the power of our business model and extensive network."
“Subsequent to this quarter, we concluded the acquisition of Texas Electric Cooperatives Inc.’s utility wood pole manufacturing business, adding a 43rd wood-treating facility to our network. We also published our 2021 Environmental, Social and Governance ("ESG") Report, highlighting our progress towards continuous improvement in ESG. We remain confident in our free cash flow generation and commitment to return value to our shareholders, as evidenced by the announcement of our 2022-2023 Normal Course Issuer Bid this morning. Based on our robust performance so far this year, we are favourably positioned to attain the objectives set forth in our three-year plan,” concluded Mr. Vachon.
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