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 (UFPI) delivers essential building materials and packaging solutions across global markets. This news hub provides investors and industry professionals with timely updates on the company’s strategic initiatives, financial performance, and market leadership.
Access official press releases, earnings reports, and analysis of UFPI’s activities in manufactured housing lumber, construction materials, and industrial packaging. Track developments across its three core segments—UFP Retail Solutions, UFP Packaging, and UFP Construction—to understand how the company adapts to evolving supply chain demands and construction trends.
Key updates include product innovations, sustainability initiatives, acquisitions, and leadership changes. Content is curated to help stakeholders assess UFPI’s position in competitive sectors like residential construction and industrial distribution.
Bookmark this page for streamlined access to UFP Industries’ latest announcements. Combine these resources with SEC filings and market analysis for a comprehensive view of the company’s trajectory.
UFP Packaging has opened a new 10,000-square-foot Packaging Design and Development Center (DDC) in Newnan, Georgia. The facility features customer-focused spaces for collaboration and innovation, including a fully equipped prototyping shop and an ISTA-certified testing laboratory. The center will focus on sustainability, cost savings through refined designs, and minimizing material waste. Located near Atlanta, the DDC offers comprehensive testing services including ISTA certification, Amazon 6 testing, and ASTM and ISO package and pallet testing. PalletOne will utilize the center for unit load design classes and pallet solution optimization.
ProWood has announced a strategic partnership with Dixieply to distribute ProWood FR Fire Retardant Treated (FRT) wood across the Southeast. Through this collaboration, Dixieply will offer ProWood's fire-retardant products across its network in Tennessee, Georgia, North Carolina, and Florida. The partnership enables ProWood to reach key markets including Atlanta, Charlotte, Nashville, Fort Lauderdale, Orlando, and Tampa, where fire-retardant materials are important for building resilient communities. Dixieply, an employee-owned distributor operating since 1944, will help expand the availability of ProWood's fire-retardant treated wood products to builders and contractors in these regions.
UFP Industries (UFPI) has announced its participation in Baird's 54th annual Global Industrial Conference, scheduled for November 12-14, 2024, at the Ritz-Carlton in Chicago. The company, ranked #493 on the Fortune 500 and #128 on Industry Week's list of America's Largest Manufacturers, operates through three subsidiaries: UFP Packaging, UFP Construction, and UFP Retail Solutions. These divisions manufacture, distribute, and sell value-added products for residential and commercial construction, packaging, and industrial applications worldwide. Founded in 1955 and headquartered in Grand Rapids, Michigan, UFP Industries maintains affiliates across North America, Europe, Asia, and Australia.
UFP Industries (UFPI) reported third quarter 2024 results with net sales of $1.65 billion, down 10% year-over-year, and net earnings of $100 million, a 26% decrease. The decline was attributed to softer demand and broad-based pricing pressure. The company maintains a strong balance sheet with $1.19 billion in cash and approximately $2.4 billion in liquidity. The Board approved a 10% increase in quarterly dividend to $0.33 per share. The company expects challenging conditions to continue through 2024 and into 2025, with anticipated decreases in demand across segments.
UFP Industries (Nasdaq: UFPI) has announced that Landon Tarvin will replace Will Schwartz as president of UFP Retail Solutions, effective December 29, 2024. UFP Retail Solutions is a business segment producing ProWood pressure-treated lumber, Deckorators composite decking, UFP-Edge siding and trim, and Outdoor Essentials fence and garden products. Tarvin, currently vice president of Deckorators, joined UFP Industries in 2002 and has held various roles of increasing responsibility. Will Schwartz, who will become CEO of UFP Industries on the same date, praised Tarvin as a proven strategic thinker and thoughtful risk-taker, highlighting his strong performance and leadership skills. Tarvin expressed his commitment to executing UFP Retail Solutions strategies and developing the team while building on the foundation set by his predecessors.
UFP Industries (Nasdaq: UFPI) has appointed Stanley Elliott as its new director of investor relations, replacing Dick Gauthier who will retire at the end of 2024 after 40 years with the company. Elliott joins from Stifel Financial , where he served as managing director on the equity research platform, covering industries including building materials and diversified industrials. His experience includes award-winning earnings estimates and stock selection, with UFP Industries in his coverage universe.
Mike Cole, UFP Industries CFO, expressed confidence in Elliott's ability to create a best-in-class investor relations program, citing his knowledge of the company, culture, and industry. UFP Industries, ranked #493 on the Fortune 500 and #128 on Industry Week's list of America's Largest Manufacturers, operates through subsidiaries in packaging, construction, and retail solutions sectors.
UFP Industries announced a planned leadership transition effective December 29, 2024. CEO Matthew J. Missad will become Executive Chairman, while William "Will" Schwartz, current president of the retail business unit, will take over as CEO. CFO Michael Cole will add the role of President of Corporate Services.
Under Missad's 13-year tenure as CEO, UFP Industries' stock price increased over 1500% and revenues grew from $1.8 billion in 2011 to $7.2 billion in 2023. Schwartz, who joined UFP in 1998, has a track record of successfully taking on new challenges and improving business operations.
The transition is part of UFP's succession planning strategy to prepare the next generation of leadership and drive continued growth. Missad will remain as Executive Chairman through 2026 to support the transition and maintain key relationships.
UFP Industries (Nasdaq: UFPI) reported second quarter 2024 results with net sales of $1.9 billion, down 7% year-over-year. Net earnings attributable to controlling interest were $126 million, a 16% decrease. Earnings per diluted share were $2.05. The company maintained a strong balance sheet with $1.04 billion in cash.
Key highlights include:
- Adjusted EBITDA of $204 million, down 13%
- New product sales of $134 million, 7% of total sales
- Quarterly dividend increased by 10% to $0.33 per share
- Share repurchase program of $200 million authorized through July 31, 2025
UFP Industries expects challenging market conditions to continue for the remainder of 2024, with anticipated decreases in Retail and Packaging demand, but an increase in Construction demand.
UFP Industries (Nasdaq: UFPI) has been named to the FORTUNE 500 list for the third consecutive year, ranking 493rd based on its 2023 net sales of $7.2 billion. Chairman and CEO Matthew J. Missad expressed gratitude to the company's over 15,000 employees for their contributions, noting the company's evolution from a lumber wholesaler to a global solutions provider. UFP Industries, headquartered in Grand Rapids, Michigan, serves the retail, construction, and packaging sectors through over 200 affiliates and processes seven percent of North America's softwood lumber. The company is also #149 on Industry Week’s list of America’s Largest Manufacturers and is a Great Place to Work Certified™.
UFP Industries (Nasdaq: UFPI) has announced its participation in the Stifel 2024 Cross Sector Insight Conference, scheduled for June 4-5, 2024, at the InterContinental Boston in Boston, Massachusetts. This event will provide an opportunity for UFP Industries' management to engage with investors and showcase the company's recent developments and future prospects. UFP Industries, headquartered in Grand Rapids, Michigan, operates through its subsidiaries UFP Packaging, UFP Construction, and UFP Retail Solutions, offering a variety of value-added products for residential and commercial construction, packaging, and industrial applications globally. The company is listed at #403 on the Fortune 500 and #128 on Industry Week's list of America’s Largest Manufacturers. For further details and the latest investor presentation, visit ufpinvestor.com.
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