Acquisitions Help Stella-Jones Sales

Stella-Jones Inc. had sales of $907 million for the second quarter of 2022, up from sales of $903 million in the second quarter of 2021. The increase was mostly due to acquisitions with flat sales of pressure-treated wood year-over-year and a decrease in sales of logs and lumber. Residential lumber sales were $286 million in the quarter, down from $330 million in the prior-year period. Logs and lumber sales were $52 million, down from $85 million in 2021. Overall gross profit was $173 million versus $197 million in the year-ago period, representing a margin of 19.1 and 21.8 per cent, respectively. The decrease in gross profit was primarily driven by the normalization of residential lumber gross profit. Net income for the second quarter was $94 million compared to net income of $115 million last year.