Welcome to our dedicated page for Ufp Industries news (Ticker: UFPI), a resource for investors and traders seeking the latest updates and insights on Ufp Industries stock.
UFP Industries, Inc. reports developments across its Retail, Packaging and Construction businesses, where it manufactures value-added products for retail channels, industrial packaging customers and construction end markets. Recurring updates include operating and financial results, segment demand trends, capital allocation, acquisitions and product-capacity investments.
Company news often centers on UFP Packaging and its PalletOne pallet business, including additions to its manufacturing network for new and recycled pallets. Other recurring themes include Deckorators outdoor living products, wood-plastic composite decking capacity, construction-related prefabricated components and governance or operating-structure changes tied to the company's acquisition and integration strategy.
UFP Industries, Inc. (Nasdaq: UFPI) reported second-quarter 2020 net earnings of $66.5 million and record EPS of $1.08, up 23% year-over-year. Retail sales surged 26% to $609.2 million, driven by home improvement demand amid the pandemic. In contrast, Industrial and Construction segments faced declines, with sales down 23% and 13% respectively. The company maintains liquidity of over $562 million and announced a 25% dividend increase, reflecting strong capital management. Operating cash flow more than doubled to $147.2 million.
UFP Industries (Nasdaq: UFPI) announced the acquisition of T&R Lumber Company and its affiliates, Sullivan & Mann and Kelmar Creations, based in California. T&R specializes in manufacturing nursery-related products, reporting approximately $31 million in sales for 2019. This acquisition aims to extend UFP's agricultural product offerings across its national footprint. T&R's President, Phil Guardia, and team will continue to lead operations. UFP's CEO stated that the new organizational structure will facilitate the growth of value-added offerings for agricultural customers.
UFP Industries, Inc. (Nasdaq: UFPI) will participate in the Stifel 2020 Virtual Cross Sector Insight Conference on June 10, 2020, at 8:40 a.m. ET. Shareholders and interested parties can access the live webcast and presentation slides on the company's investor relations website.
Founded in 1955 and based in Grand Rapids, Mich., UFP Industries produces wood, wood composite, and other products for retail, construction, and industrial markets globally.
UFP Industries (Nasdaq: UFPI) reported a fire incident at its Ashburn, Georgia facility on June 3, 2020, causing partial damage estimated at $1 million. Fortunately, there were no injuries, and the fire is under investigation as arson. The facility is expected to remain closed until June 5, 2020. CEO Matthew J. Missad expressed concern over the incident but ensured that operations could be shifted to other facilities in Georgia to continue serving customers. UFP Industries operates in the retail, construction, and industrial markets, with a robust presence across North America and beyond.