Universal Forest Products (UFPI) Tops Q4 EPS by 2c, Revenues Miss
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Revenue Growth %: -1.6%
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INTEREST EXPENSE: 1.1M
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Universal Forest Products (NASDAQ: UFPI) reported Q4 EPS of $0.61, $0.02 better than the analyst estimate of $0.59. Revenue for the quarter came in at $998.04 million versus the consensus estimate of $1.01 billion.
“The hard-working employees of UFP Industries marked our 65th year in business by producing the best fourth quarter and year in our history,” stated CEO Matthew J. Missad. “Our record profitability is the result of increased unit sales, our ability to leverage fixed costs, and increased sales of our higher-margin, value-added products, which continue to comprise a greater portion of our product mix. We also generated record operating cash flow, allowing us to fund our strategic growth initiatives, further strengthen our balance sheet and return even more capital to our shareholders.”
Fourth Quarter 2019 Highlights (comparisons on a year-over-year basis):
- Earnings from operations of $51.8 million were up 14 percent and net earnings attributable to controlling interest of $37.7 million were up 24 percent
- EBITDA of $70.9 million increased by 12 percent
- Net sales of $998 million represent a 1 percent increase; lower lumber prices reduced gross sales by 5 percent
For earnings history and earnings-related data on Universal Forest Products (UFPI) click here.
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