High Market Prices Benefit Stella-Jones Sales

Stella-Jones Inc. had sales of $903 million for the second quarter of 2021, up $135 million compared to sales of $768 million in the second quarter of 2020. Excluding the negative impact of the currency conversion, pressure-treated wood sales rose $136 million, or 18 per cent, partially benefiting from unprecedented high market prices of lumber in the residential lumber segment. Sales in the residential lumber category rose to $330 million in the quarter, compared to sales of $257 million in the corresponding period last year. The strong sales growth led to an increase in gross profit, which grew 50 per cent to $197 million, compared to the prior-year period. Net income was $115 million compared to $69 million in the year-ago period.