- Sales of $915 millionagainst 949 millions $ in the third quarter of fiscal 2023
- Operating income 130 millions $down by 36 millions $ compared to T3-2023
- BEAUTIFUL1 of $162 million, which represents a margin1 17.7%
- Net income of $80 million, or $1.42 per share
- Revised three-year objectives: sales of approximately $3.6 billion and EBITDA margin of more than 17%
- Announcement of a normal course issuer bid for 2024-2025
MONTREAL, Nov. 06, 2024 – Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced the financial results for its third quarter ended September 30, 2024.
“Stella-Jones’ strategy is, as always, anchored in the long-term growth of our resilient infrastructure businesses. In the third quarter, despite very favorable long-term demand, we noticed a slowdown in the pace of purchases made by our utility company customers. Although total sales were lower than anticipated, we delivered a solid quarterly EBITDA margin of 17.7% as well as robust cash flow from operating activities,” said Eric Vachon, President and Chief Executive Officer. from the management of Stella-Jones. “For the nine-month period, sales increased and our profit margins remained above our targets. Based on current purchasing behaviors of utility companies and the strength of the Company’s margins, we are updating our three-year financial targets with sales of approximately $3.6 billion by 2025 and an EBITDA margin of more than 17%.”
“Utility companies continue to anticipate significant increases in infrastructure investment, as evidenced by longer-term sales contracts secured from existing as well as new customers. These commitments reinforce our confidence in the robustness and sustainability of growth in demand for utility poles. With our attractive offering of infrastructure products and services, our large available capacity and the strength of our balance sheet, we are enthusiastic about the opportunities for sustained growth and increased profitability,” concluded Mr. Vachon.
Link to report
Source : Stella-Jones
Canada
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