07:50 AM EDT, 05/07/2025 (MT Newswires) -- Stella-Jones ( STLJF ) , a North American manufacturer, on Wednesday reported higher first-quarter earnings that beat a consensus estimate and said it will buy a maker of electricity transmission towers for $58 million.

For the quarter ended March 31, the company posted net income of $93 million, compared with $77 million a year earlier. Profit per basic and diluted share rose to $1.67 from $1.36, above a consensus estimate compiled by FactSet of $1.15.

First-quarter sales were little changed at $773 million, below a consensus estimate compiled by FactSet of $806 million.

"Though macroeconomic headwinds continue to impact volume growth, at this stage we remain confident in our ability to achieve our financial objectives," said Stella-Jones ( STLJF ) Chief Executive Eric Vachon. "We are executing on sound financial and operational foundations, and we remain assured in the long-term growth outlook for our infrastructure businesses."

Stella-Jones' ( STLJF ) 2023-2025 financial objectives remain unchanged. The company also declared a quarterly dividend of $0.31 per common share, unchanged from the prior quarter, payable on June 20 to shareholders of record at the close of business on June 2.

Separately, Stella-Jones ( STLJF ) agreed to buy Locweld, a designer and manufacturer of lattice transmission towers and steel poles, for $58 million on a cash-free debt-free basis. Stella-Jones ( STLJF ) will finance the deal, which is expected to close on Wednesday, through its existing revolving credit facilities. An additional performance-based payment of up to $7 million may be paid contingent upon achieving specific financial and operational milestones.

Shares of the company closed down 0.3% to $67.40 on Tuesday on the Toronto Stock Exchange.