Nov. 15, 2022
Stella-Jones Has Strong Residential Lumber Sales
Stella-Jones Inc. had sales of $842 million for the third quarter of 2022, a 24 per cent increase over sales of $679 million in the third quarter of 2021. The increase is attributable to acquisitions; higher sales of pressure-treated wood, which increased 15 per cent year over year; and higher sales of residential lumber, which increased 30 per cent year over year. Residential lumber sales were $226 million in the quarter, up from $170 million in the third quarter of 2021. Overall gross profit was $139 million versus $82 million in the year-ago period, representing a margin of 16.5 per cent and 12.1 per cent respectively. Net income for the third quarter was $65 million compared to net income of $34 million last year.