UFP Industries (UFPI) subsidiary to acquire the net operating assets of Spartanburg Forest Products and its affiliates

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Go back to UFP Industries (UFPI) subsidiary to acquire the net operating assets of Spartanburg Forest Products and its affiliates

Universal Forest Products (UFPI) Tops Q4 EPS by 29c, Revenues Beat

February 24, 2021 4:07 PM EST

Universal Forest Products (NASDAQ: UFPI) reported Q4 EPS of $1.02, $0.29 better than the analyst estimate of $0.73. Revenue for the quarter came in at $1.39 billion versus the consensus estimate of $1.2 billion.

Fourth Quarter 2020 Highlights (comparisons on a year-over-year basis):

Net sales of $1.39 billion increased 40 percent due to a 15 percent increase in unit sales and 25 percent increase in lumber pricesEarnings from operations of $88.2 million increased 70 percent despite $12 million in asset impairment charges and other costs taken during the quarter (detailed in the Business Segment section below). The companys use of... More