Stella Jones Reported Strong Sales in Q3 This Year

SEATTLE (Scrap Monster): Stella Jones’ sales increased by 13% over the previous year to touch $949 million in the third quarter of the current year. This compares with sales of $842 million during Q3 last year.

The surge in sales was mainly driven by the company’s infrastructure-related business, which recorded 17% organic sales growth during the quarter. However, this was largely offset by significantly lower residential lumber and logs and lumber sales when compared with the prior year quarter.

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The company’s EBITDA increased to $193 million in Q3 this year, compared with $119 million in the third quarter of 2022. The EBITDA margin saw an expansion from 14.1% to 20.3%. The gross profit increased year-on-year from $139 million to $215 million, largely due to the margin expansion by the company’s infrastructure-related business.

The operating income stood at $166 million, as compared with $98 million in the prior year quarter. Also, the company reported net income of $110 million, or $1.91 per share, compared with $65 million, or $1.07 per share in the corresponding period of 2022.

Eric Vachon, President and CEO of Stella-Jones noted that the company made notable progress in its growth trajectory, witnessing record increase in profitability.