07:55 AM EST, 11/06/2024 (MT Newswires) -- Stella-Jones ( STLJF ) on Wednesday reported lower net income and revenue for its third quarter.

Net income fell to $80 million, or $1.42 per share, from $110 million, or $1.91 per share, last year.

Quarterly sales fell to $915 million from $949 million in the prior year period.

Stella-Jones ( STLJF ) will pay a quarterly dividend of $0.28 per share, on Dec. 2.

The company also trimmed its sales expectations for 2025 to $3.6 billion, from greater than the $3.6 billion previously set out in the three-year financial objectives.

The Toronto Stock Exchange has also accepted Stella-Jones' ( STLJF ) notice to buy back up to 2.5 million shares from Nov. 14 for one year. The company purchased 1.13 million shares at a weighted average price of $84.19 each, for a total consideration of $95 million at its last share buyback.