Ufp Industries Inc Stock Price, News & Analysis

UFP Packaging announced on March 28, 2023, that its PalletOne unit has achieved a nationwide expansion, becoming the first wholly owned coast-to-coast pallet supplier in the United States. This initiative means PalletOne operates in over 70 UFP facilities, with plans to add 20 more. The expansion aims to enhance service delivery and strengthen PalletOne's position in the packaging industry. UFP Packaging, a subsidiary of UFP Industries (NASDAQ: UFPI), focuses on providing comprehensive packaging solutions across various sectors. The company has been active since 2001, emphasizing innovations in automated manufacturing and custom packaging solutions.

UFP Industries reported a record net sales of $9.6 billion for fiscal 2022, marking an 11% increase from 2021. The company's earnings per diluted share surged 28% to $10.97. For Q4 2022, net sales reached $1.91 billion, down 5% year-over-year, amid a 10% decline in organic unit sales. Despite a 14% decrease in earnings from operations, the company invested $174 million in capital expenditures and allocated over $60 million for employee bonuses. With a strong balance sheet showing $281.3 million in net surplus cash, UFP looks ahead to navigate a cooling housing market and maintain growth through new product innovations and strategic acquisitions.

UFP Industries, Inc. (NASDAQ: UFPI) announced a quarterly dividend of $0.25 per share, marking a 25% increase from the $0.20 per share paid in March 2022. This dividend is set to be paid on March 15, 2023, to shareholders on record as of March 1, 2023. The Chairman and CEO, Matthew J. Missad, highlighted this decision as a reflection of strong performance and confidence in the company’s growth strategy. UFP Industries is recognized for its diverse product offerings in construction and packaging across multiple regions, including North America, Europe, Asia, and Australia.

UFP Industries has appointed Matthew J. Missad as the new Chairman of the Board, following the retirement of William G. Currie after 54 years with the company. This leadership transition was approved during a board meeting on February 2, 2023, and is part of a planned succession strategy that emphasizes continuity and change. Missad, who has been with the company since 1978 and served as CEO since 2011, will lead the board effectively while Currie remains a director until the end of his term. UFP Industries is ranked #401 on the Fortune 500.