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 (UFPI) reported impressive third-quarter results with net sales increasing by 28% to $1.49 billion and diluted EPS rising 49% to $1.25 per share, marking the best quarterly performance in its 65-year history. The growth was driven by a 20% rise in pricing and 8% increase in unit sales. Gross profits surged 29% to over $241 million, while EBITDA rose 40% to $125.7 million. The Retail Solutions segment led the growth with a 76% sales increase. The company also announced a quarterly dividend of 12.5 cents per share.
UFP Industries (Nasdaq: UFPI) has announced the acquisition of Fire Retardant Chemical Technologies, LLC (FRCT), based in Matthews, North Carolina. Established in 2014, FRCT focuses on developing high-performance chemicals, including fire retardants. With approximately $6.4 million in sales reported in 2019, FRCT's integration is expected to enhance UFP's product portfolio, particularly in the fire-retardant segment. Dr. Futong Cui will continue as FRCT's leader, aiming to leverage UFP's resources for faster market introduction of innovative products.
UFP Industries, Inc. will host a conference call on October 22, 2020, at 8:30 a.m. ET to discuss its Q3 2020 performance. The call will be led by CEO Matthew J. Missad and CFO Michael Cole. Investors can access the call via a webcast on the company's investor relations page or through U.S. and international dial-in numbers. A replay will be available until October 24, 2020. For further details, investors can contact Vice President of Business Outreach, Dick Gauthier.
UFP Industries, Inc. (Nasdaq: UFPI) announced the issuance of $150 million in unsecured notes on August 10, 2020, through an existing private shelf facility. The notes include tranches of $50 million each with maturities in 2032, 2033, and 2035, offering interest rates of 3.04%, 3.08%, and 3.15%, respectively. The company, confident in its balance sheet, aims to use this capital to support strategic acquisitions and capital projects for future growth. This move is seen as advantageous for long-term objectives.
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.