Ufp Industries Inc - UFPI STOCK NEWS

UFP Packaging announced on March 28, 2023, that its PalletOne unit has achieved a nationwide expansion, becoming the first wholly owned coast-to-coast pallet supplier in the United States. This initiative means PalletOne operates in over 70 UFP facilities, with plans to add 20 more. The expansion aims to enhance service delivery and strengthen PalletOne's position in the packaging industry. UFP Packaging, a subsidiary of UFP Industries (NASDAQ: UFPI), focuses on providing comprehensive packaging solutions across various sectors. The company has been active since 2001, emphasizing innovations in automated manufacturing and custom packaging solutions.

UFP Industries reported a record net sales of $9.6 billion for fiscal 2022, marking an 11% increase from 2021. The company's earnings per diluted share surged 28% to $10.97. For Q4 2022, net sales reached $1.91 billion, down 5% year-over-year, amid a 10% decline in organic unit sales. Despite a 14% decrease in earnings from operations, the company invested $174 million in capital expenditures and allocated over $60 million for employee bonuses. With a strong balance sheet showing $281.3 million in net surplus cash, UFP looks ahead to navigate a cooling housing market and maintain growth through new product innovations and strategic acquisitions.

UFP Industries, Inc. (NASDAQ: UFPI) announced a quarterly dividend of $0.25 per share, marking a 25% increase from the $0.20 per share paid in March 2022. This dividend is set to be paid on March 15, 2023, to shareholders on record as of March 1, 2023. The Chairman and CEO, Matthew J. Missad, highlighted this decision as a reflection of strong performance and confidence in the company’s growth strategy. UFP Industries is recognized for its diverse product offerings in construction and packaging across multiple regions, including North America, Europe, Asia, and Australia.

UFP Industries, Inc. (NASDAQ: UFPI) announces a leadership transition as Matthew J. Missad is appointed chairman of the board, effective immediately. This decision follows the board meeting on February 2, 2023, as part of a succession plan. William G. Currie, the current chairman, will retire after 52 years with the company but will remain a director until his term ends. Missad has been with UFP Industries since 1978, becoming CEO in 2011 and is expected to stay until at least 2027. UFP Industries is a major player with multiple subsidiaries in construction and packaging across various global markets.

UFP Industries has appointed Matthew J. Missad as the new Chairman of the Board, following the retirement of William G. Currie after 54 years with the company. This leadership transition was approved during a board meeting on February 2, 2023, and is part of a planned succession strategy that emphasizes continuity and change. Missad, who has been with the company since 1978 and served as CEO since 2011, will lead the board effectively while Currie remains a director until the end of his term. UFP Industries is ranked #401 on the Fortune 500.

UFP Retail Solutions, a segment of UFP Industries (NASDAQ: UFPI), will showcase its products at the NAHB International Builders’ Show in Las Vegas from January 31 to February 2, 2023. The brands Deckorators and UFP-Edge will display innovative offerings, including:

• Vista Decking with enhanced traction
• Aluminum Rapid Rail system for easy installation
• New lightweight composite decking
• Thermally Modified Wood Collection
• Primed Trim for protection against rot

Visitors can participate in a unique contest to win $5,000 by breaking a mineral-based composite deck board.

UFP Industries (Nasdaq: UFPI) has acquired Titan Corrugated, Inc., along with its affiliate All Boxed Up, LLC, marking a strategic move in the corrugated packaging sector. The acquisition adds approximately $46.5 million in sales, bolstering UFP's market presence. Titan, founded in 2003, specializes in various corrugated products and operates a highly automated facility in Texas. UFP aims to leverage Titan's efficiencies and expertise to expand its packaging solutions, with Titan's leadership remaining intact to drive future growth.

Deckorators, a leader in composite decking and accessories, released its 2023 Outdoor Living Report, highlighting trends in outdoor spaces as homeowners seek to enhance their outdoor living experiences. Key trends include Natural Neutrals inspired by nature, 365 Living for year-round use of outdoor areas, Dreaming Bigger with maximalist features, and Total Look focusing on cohesive materials. Experts predict more homeowners will invest in outdoor spaces for relaxation and entertainment, reflecting a shift towards maximizing outdoor time.