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UFP Industries, Inc. (symbol: UFPI) is a diversified holding company founded in 1955, with a robust global presence spanning North America, Europe, Asia, and Australia. The company operates through its subsidiaries: UFP Industrial, UFP Construction, and UFP Retail Solutions. Each subsidiary specializes in manufacturing, distributing, and selling an extensive range of products tailored for residential and commercial construction, packaging, and industrial applications.
Originally a supplier of lumber for the manufactured housing industry, UFP Industries has grown into a multibillion-dollar entity with a diverse product portfolio. UFP Industrial focuses on providing customized solutions for industrial packaging and material handling. UFP Construction offers a variety of wood and wood-alternative products used in construction, including trusses, treated lumber, and engineered wood components. UFP Retail Solutions caters to the retail market with products such as wood and composite decking, fencing, and decorative accessories.
Recent Achievements and Projects:
- Continual expansion through strategic acquisitions that enhance its product offerings and market reach.
- Investments in innovative technologies to improve manufacturing processes and product quality.
- Sustainable business practices, including the use of recycled materials and environmentally-friendly manufacturing techniques.
Financially, UFP Industries remains strong, consistently delivering value to its shareholders through steady revenue growth, profitability, and prudent capital management. The company’s commitment to innovation, quality, and customer service has solidified its position as an industry leader and a trusted partner worldwide.
UFP Industries (UFPI) reported Q4 2024 results with net sales of $1.46 billion, down 4% year-over-year, and net earnings of $68.0 million. Full-year 2024 net sales were $6.7 billion, down 8%, with earnings per diluted share of $6.77.
The company faced softer demand and a more competitive pricing environment in Q4, with a 4% decrease in selling prices. Despite challenges, 2024 marked UFPI's 70th consecutive profitable year. The company maintains a strong balance sheet with nearly $1.2 billion in cash and announced a 6% increase in quarterly dividend to $0.35 per share.
Management expects softer demand and competitive pricing to continue through first half of 2025, with slight declines expected across Retail, Packaging, and Construction segments. The company plans to invest approximately $350 million in capital projects in 2025 as part of its $1 billion investment plan through 2028.
UFP Industries (Nasdaq: UFPI) celebrates its 70th anniversary on February 9, marking seven decades of continuous profitability since its 1955 founding. The company attributes its success to its ability to recruit and retain high-achieving employees, company culture, and unique incentive system that aligns employee interests with shareholders.
Founded as Universal Forest Products by William 'Bill' Grant, UFP has evolved from a small wood-products manufacturer into a global manufacturing powerhouse. The company operates across three main segments: retail (including ProWood treated lumber and Deckorators decking), packaging (providing solutions for various industries), and construction (concrete forming, site built and factory built units).
New CEO Will Schwartz, who recently took leadership in December, emphasizes the company's motto: 'No mission statement; just people on a mission.'™ The company's commitment to employee ownership and internal promotion is demonstrated by Schwartz being the sixth CEO to rise through company ranks. UFP Industries now operates globally across North America, Europe, Asia, and Australia, focusing on innovative solutions for construction, retail, and industrial markets.
UFP Industries (UFPI) has scheduled its fourth quarter and full year 2024 earnings announcement for Monday, February 17, 2025. The company will hold a conference call to discuss the results on Tuesday, February 18, 2025, at 9 a.m. Eastern Time. A live audio webcast and supporting materials will be available on the company's investor relations website, with a replay accessible for at least 90 days following the call.
UFP Industries operates through three subsidiaries - UFP Packaging, UFP Construction, and UFP Retail Solutions - manufacturing and distributing value-added products for construction, packaging, and industrial applications globally. The company, founded in 1955 and headquartered in Grand Rapids, Michigan, ranks #493 on the Fortune 500 and #128 on Industry Week's list of America's Largest Manufacturers.
Deckorators, a UFP Industries company and leading composite decking brand, has released its 2025 Outdoor Living Report highlighting key trends and industry forecasts. The report, based on contractor insights and panel discussions, indicates 2025 is poised for a home upgrade renaissance, particularly in outdoor living projects, amid projected declining interest rates and an aging housing market.
Key trends identified include: Wellness Decks featuring hot tubs and saunas; Multi-level Decks for space optimization; Biophilic Design incorporating natural elements; and innovative Lighting solutions. The company also announced new product launches for 2025, including Glass Rail Post Kits, Continuous Top Rail, Summit Decking with Surestone technology, Aluminum Fence Kits, and StealthLock Universal Deck Clips.
UFP Industries (UFPI) has announced that its affiliate, UFP Packaging, has acquired C&L Wood Products, a pallet and mulch manufacturer based in Hartselle, Alabama. C&L, with trailing 12-month sales of $24.8 million through November 2024, will operate under UFP Packaging's PalletOne business unit, a leading U.S. manufacturer of machine-built pallets.
Founded in 1975 and acquired by Henry and Blythe Bowman in 1996, C&L has grown from 10 employees and less than $1 million in revenue to approximately 115 employees serving customers within a 150-mile radius. The acquisition expands PalletOne's geographic footprint into northern Alabama and central Tennessee. C&L's current leadership team, including President Henry Bowman and Operations Manager Frank Janek, will remain with the company.
UFP Packaging has opened a new 10,000-square-foot Packaging Design and Development Center (DDC) in Newnan, Georgia. The facility features customer-focused spaces for collaboration and innovation, including a fully equipped prototyping shop and an ISTA-certified testing laboratory. The center will focus on sustainability, cost savings through refined designs, and minimizing material waste. Located near Atlanta, the DDC offers comprehensive testing services including ISTA certification, Amazon 6 testing, and ASTM and ISO package and pallet testing. PalletOne will utilize the center for unit load design classes and pallet solution optimization.
ProWood has announced a strategic partnership with Dixieply to distribute ProWood FR Fire Retardant Treated (FRT) wood across the Southeast. Through this collaboration, Dixieply will offer ProWood's fire-retardant products across its network in Tennessee, Georgia, North Carolina, and Florida. The partnership enables ProWood to reach key markets including Atlanta, Charlotte, Nashville, Fort Lauderdale, Orlando, and Tampa, where fire-retardant materials are important for building resilient communities. Dixieply, an employee-owned distributor operating since 1944, will help expand the availability of ProWood's fire-retardant treated wood products to builders and contractors in these regions.
UFP Industries (UFPI) has announced its participation in Baird's 54th annual Global Industrial Conference, scheduled for November 12-14, 2024, at the Ritz-Carlton in Chicago. The company, ranked #493 on the Fortune 500 and #128 on Industry Week's list of America's Largest Manufacturers, operates through three subsidiaries: UFP Packaging, UFP Construction, and UFP Retail Solutions. These divisions manufacture, distribute, and sell value-added products for residential and commercial construction, packaging, and industrial applications worldwide. Founded in 1955 and headquartered in Grand Rapids, Michigan, UFP Industries maintains affiliates across North America, Europe, Asia, and Australia.
UFP Industries (UFPI) reported third quarter 2024 results with net sales of $1.65 billion, down 10% year-over-year, and net earnings of $100 million, a 26% decrease. The decline was attributed to softer demand and broad-based pricing pressure. The company maintains a strong balance sheet with $1.19 billion in cash and approximately $2.4 billion in liquidity. The Board approved a 10% increase in quarterly dividend to $0.33 per share. The company expects challenging conditions to continue through 2024 and into 2025, with anticipated decreases in demand across segments.
UFP Industries (Nasdaq: UFPI) has announced that Landon Tarvin will replace Will Schwartz as president of UFP Retail Solutions, effective December 29, 2024. UFP Retail Solutions is a business segment producing ProWood pressure-treated lumber, Deckorators composite decking, UFP-Edge siding and trim, and Outdoor Essentials fence and garden products. Tarvin, currently vice president of Deckorators, joined UFP Industries in 2002 and has held various roles of increasing responsibility. Will Schwartz, who will become CEO of UFP Industries on the same date, praised Tarvin as a proven strategic thinker and thoughtful risk-taker, highlighting his strong performance and leadership skills. Tarvin expressed his commitment to executing UFP Retail Solutions strategies and developing the team while building on the foundation set by his predecessors.
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