UFP Industries Reports Record Earnings for Fourth Quarter and Year

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Go back to UFP Industries Reports Record Earnings for Fourth Quarter and Year

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