Welcome to our dedicated page for Ufp Industries news (Ticker: UFPI), a resource for investors and traders seeking the latest updates and insights on Ufp Industries stock.
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 a 37% increase in earnings per share, reaching $2.66 for Q3 2022. The company achieved record net sales of $2.3 billion, an 11% year-over-year increase, driven by a 6% rise in prices and a 5% increase in unit sales. Earnings from operations rose by 41% to $237 million. New product sales grew by 38%, and adjusted EBITDA increased 46% to $274 million. The company maintains a robust balance sheet with $1.5 billion in liquidity and announced a 67% higher dividend of $0.25 per share for December.
UFP Industries (Nasdaq: UFPI) has named Will Schwartz as the new president of UFP Retail Solutions, effective January 1, 2023. This segment, which generates approximately $4 billion in revenue, includes notable brands like ProWood and Deckorators. Schwartz, who joined the company in 1998, has held various leadership positions and successfully managed supply chains during the pandemic. He takes over from Allen Peters, who becomes executive vice president of innovation. The company remains optimistic about its growth trajectory and Schwartz's leadership.
UFP Industries (Nasdaq: UFPI) announced the appointment of Allen Peters as executive vice president of innovation, effective January 1, 2023. Peters will lead the Innovation Accelerator and Innov8 Fund, using his experience from UFP Retail Solutions to drive new products and technology. CEO Matthew J. Missad expressed confidence in Peters' capabilities to achieve growth and innovation. The company is currently searching for a new president of UFP Retail Solutions, with an announcement expected by the end of September 2022.
UFP Industries (Nasdaq: UFPI) reported record net sales of $2.9 billion and net earnings of $203 million for Q2 2022, marking a 7% sales increase year-over-year. The company achieved earnings per diluted share of $3.23, a 16% increase. New product sales surged 37% to $181 million. Despite a 40% decline in retail gross profit due to falling lumber prices, the construction segment saw a 32% sales rise. The company maintains a strong liquidity of $1.16 billion and announced a 67% dividend increase to $0.25 per share.
UFP Industries, Inc. (Nasdaq: UFPI) is set to announce its second quarter financial results on July 21, 2022, after market close. The announcement will take place around 4:05 p.m. ET, followed by a conference call hosted by CEO Matt Missad and CFO Mike Cole at 4:30 p.m. ET. Investors can access the call through a webcast on the company's investor relations website. UFP Industries, headquartered in Grand Rapids, Mich., engages in manufacturing and distributing value-added products for construction and industrial applications worldwide.
UFP Industries (Nasdaq: UFPI) has been recognized as one of America's Best Mid-Sized Companies, ranking tenth on Forbes' annual list for 2022. The ranking involved over 1,000 companies evaluated based on earnings growth, sales growth, return on equity, and total stock return over the past five years. UFP reported record revenue of $8.64 billion in 2021, a 68% increase from 2020, and a record EPS of $8.59, up 115%. The company also increased its quarterly dividend by 67% to 25 cents per share, reflecting strong cash flow and commitment to investor returns.
UFP Industries (Nasdaq: UFPI) announced that its affiliate, PalletOne, has acquired a 50% equity stake in Dempsey Wood Products, a manufacturer of kiln-dried lumber and industrial wood products, for an undisclosed amount. Founded in 1988, Dempsey Wood Products reported 2021 sales of $68.9 million. This acquisition secures a vital supply of industrial lumber for PalletOne, addressing a market shortage. PalletOne has the option to acquire the remaining 50% after three years, enhancing operational efficiency and expanding market reach for both companies.
UFP Industries (Nasdaq: UFPI) has been ranked 401 on the FORTUNE 500 list, marking a significant leap of 117 places from its previous rank of 518 in 2021. This marks the company’s return to the FORTUNE 500 since 1994. In 2021, UFP reported record revenues of $8.64 billion, up 68% from 2020, and EPS increased by 115% to $8.59. Additionally, the company announced a quarterly dividend increase to 25 cents per share, a 67% rise compared to 2021. CEO Matthew J. Missad expressed gratitude to customers and emphasized ongoing innovation.
On June 2, 2022, UFP Industries (Nasdaq: UFPI) announced that CEO Matt Missad and CFO Mike Cole will attend the Stifel Cross Sector Insight Conference in Boston on June 9, 2022. Their presentation is scheduled for 10:55 a.m. ET, available via a live webcast on the Investor Relations section of UFPI's website. UFP Industries, headquartered in Grand Rapids, Michigan, specializes in manufacturing and distributing value-added products for construction and industrial applications globally. More information can be found at ufpinvestor.com.
UFP Industries (Nasdaq: UFPI) announced the acquisition of Cedar Poly LLC for $17 million, which includes performance-based incentives up to $1.5 million over three years. Cedar Poly, based in Iowa, specializes in recycling high-density and low-density polyethylene, with 2021 sales of approximately $17.3 million. This acquisition aims to enhance UFP's sustainability efforts by increasing the use of recycled materials in its Deckorators product line. The decking market is expected to double in size in the next 5-7 years, primarily driven by composite decking growth.
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