UFP Industries (UFPI) Tops Q3 EPS by 38c

UFP Industries (NASDAQ: UFPI) reported Q3 EPS of $1.93, $0.38 better than the analyst estimate of $1.55. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $1.82 billion.

“Our outstanding third-quarter results once again validate our balanced business model and reflect the hard work and commitment of our employees,” said CEO Matthew J. Missad. “Our diversity of markets, coupled with an improved pricing model that quickly adjusts to lumber market fluctuations, have helped UFP deliver record profitability and provide a favorable return on investment to our shareholders, even when some markets face headwinds. When the pandemic and rising lumber prices presented challenges to our industrial and construction segments, our teams responded quickly to meet the unprecedented demand in the retail segment. As we anticipated, retail demand and lumber prices have normalized, and our industrial and construction segments are now experiencing favorable growth trends and profitability.”

For earnings history and earnings-related data on UFP Industries (UFPI) click here.

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