Stella-Jones reports Q2 EPS C$1.91 vs. C$1.94 last year

Reports Q2 revenue C$1.03B vs. C$1.05B last year. “Our second quarter results reflect the resilience of our business and the disciplined execution of our strategy for value creation as we continued to deliver a robust EBITDA margin and solid cashflows during a quarter of softer volumes,” said Eric Vachon, President and Chief Executive Officer of Stella-Jones (STLJF). “We anticipate maintaining healthy profitability levels, despite a revised revenue outlook for the year, and are encouraged by the progressive improvement in utility poles volumes. The breadth of our network provides a distinct advantage, allowing us to pivot capacity when necessary, and will enable us to support our customers from a position of strength as they execute on their long-term maintenance and capital investment plans. We are also pleased to have completed the Locweld acquisition during the quarter, which establishes our presence in the steel transmission structure market, providing a platform to further expand our reach as we continue to execute on our strategy to broaden Stella-Jones’ infrastructure offering. With this acquisition, we are better positioned to capitalize on new investment opportunities,” he concluded.