Stella-Jones Inc
F:97S
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Stella-Jones Inc
F:97S
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Stella-Jones Inc
Stella-Jones makes pressure-treated wood products that hold up outdoors for years. Its main products are utility poles for electric and telecom networks, railway ties for railroads, and wood used in residential and industrial construction such as deck boards, fences, and other outdoor structures. The company buys raw lumber, treats and finishes it at its plants, and sells the finished wood products to customers who need durable materials that can handle weather, insects, and heavy use. Its biggest customers are utilities, telecom providers, railroads, building materials distributors, and home improvement retailers. Stella-Jones makes money by supplying these customers with standard wood products under long-term contracts, recurring purchase orders, and distribution agreements. Because the company sits in the middle of the wood products supply chain, it turns ordinary timber into specialized, long-life components that are hard for customers to replace with untreated wood. What makes its business different is the treatment process itself. Pressure-treating wood extends its useful life and makes it suitable for demanding infrastructure and outdoor uses, so Stella-Jones is not just a lumber seller. It is a supplier of critical maintenance and replacement parts for power lines, telecom networks, and rail systems, while also serving the outdoor building market with practical wood products.
Stella-Jones makes pressure-treated wood products that hold up outdoors for years. Its main products are utility poles for electric and telecom networks, railway ties for railroads, and wood used in residential and industrial construction such as deck boards, fences, and other outdoor structures. The company buys raw lumber, treats and finishes it at its plants, and sells the finished wood products to customers who need durable materials that can handle weather, insects, and heavy use.
Its biggest customers are utilities, telecom providers, railroads, building materials distributors, and home improvement retailers. Stella-Jones makes money by supplying these customers with standard wood products under long-term contracts, recurring purchase orders, and distribution agreements. Because the company sits in the middle of the wood products supply chain, it turns ordinary timber into specialized, long-life components that are hard for customers to replace with untreated wood.
What makes its business different is the treatment process itself. Pressure-treating wood extends its useful life and makes it suitable for demanding infrastructure and outdoor uses, so Stella-Jones is not just a lumber seller. It is a supplier of critical maintenance and replacement parts for power lines, telecom networks, and rail systems, while also serving the outdoor building market with practical wood products.
Sales: Second-quarter sales rose to $1.042 billion, helped by utility products and the crossarms acquisition, but were partly offset by softer residential lumber and logs and lumber.
Margins: Adjusted EBITDA margin fell to 16% from 18% last year, mainly because of temporary cost pressures tied to maintenance, environmental work, fuel, and steel structure inefficiencies.
Outlook: Management said the margin setback is temporary and still expects EBITDA margin to improve in the second half of 2026, while staying below its 3-year target range for the full year.
Poles: Wood utility poles remained the strongest business, with 2% volume growth in the quarter and management still targeting mid-single-digit growth for the full year.
Ties: Railway ties were softer because Class 1 volumes stayed down, but commercial demand helped offset part of the decline and the company is pushing ahead with network optimization.
Capital plan: Stella-Jones continues to expand steel structures capacity in Canada and the U.S. and still sees M&A as part of its long-term growth strategy.