Q: Can you comment on SJ quarterly update please?
5i Research Answer:
EPS of $1.36 beat estimates of $1.08; revenue of $775M were marginally higher than estimates. EBITDA of $156M was 20% higher than expected. Following smaller peer's weak results investors were worried, but these numbers are solid. Debt did increase, but consensus calls for continued strong earnings growth. Tie volumes and pole pricing were the big factors in the good numbers. Sales rose 9.2%. With ties up 16% and utility poles up 11%. Net income rose 28%. All looks good at SJ.