Tree Frog Forestry News

Stella-Jones Reports 2019 Third Quarter Results

By Stella-Jones Inc.
Global Newswire
November 7, 2019
Category: Business & Politics
Region: Canada East, Canada

MONTREAL — Stella-Jones announced financial results for its third quarter ended September 30, 2019. …Sales reached $626.6 million, down $3.4 million, versus sales of $630.0 million for the corresponding period last year. The currency conversion effect had a positive impact of $2.8 million. Excluding this factor, sales decreased approximately $6.2 million, or 1.0%, primarily due to the logs and lumber product category as detailed below. …Operating income was $78.6 million, or 12.6% of sales, compared with $67.9 million, or 10.8% of sales, last year. The increase versus last year is explained by improved pricing and better operational efficiencies. …Net income reached $53.7 million, or $0.78 per diluted share, versus net income of $45.8 million, or $0.66 per diluted share, last year.

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