Q: Thoughts on the quarter please?
Thx
Thx
5i Research Answer:
SJ reported EPS of $1.94 beating estimates of $1.89. Revenue came in at $1.05B, slightly missing estimates of $1.06B and displaying growth of 8% from the prior year. Sales growth was driven by a 13% increase across utility poles, railway ties and industrial products. Lower residential lumber and logs and lumber sales partly offset the advance in the other areas. We like to see the continued strength from infrastructure spending and view this as a good quarter from SJ with nothing overly alarming, positive or negatively. If housing activity picks up, SJ could perform even better in the future.