Universal Forest Products (UFPI) Misses Q2 EPS by 21c, Beats on Revenues

Universal Forest Products (NASDAQ: UFPI) reported Q2 EPS of $1.64, $0.21 worse than the analyst estimate of $1.85. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.04 billion.

Second Quarter 2017 Highlights (comparisons on a year-over-year basis):

• Net earnings attributable to controlling interest were $33.6 million, up 1 percent
• Diluted earnings per share were $1.64
• Net sales of $1,072.4 million represent a 23 percent increase
• Unit sales accounted for 16 percent of the Company’s gross sales growth; higher lumber prices accounted for 7 percent
• New product sales were $115.9 million, up from $97.8 million. The Company has introduced 23 new products in 2017 to date, including 11 during the second quarter.

For earnings history and earnings-related data on Universal Forest Products (UFPI) click here.

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