Ufp Industries Inc Stock Price, News & Analysis

UFP Industries, Inc. (NASDAQ: UFPI) announces a leadership transition as Matthew J. Missad is appointed chairman of the board, effective immediately. This decision follows the board meeting on February 2, 2023, as part of a succession plan. William G. Currie, the current chairman, will retire after 52 years with the company but will remain a director until his term ends. Missad has been with UFP Industries since 1978, becoming CEO in 2011 and is expected to stay until at least 2027. UFP Industries is a major player with multiple subsidiaries in construction and packaging across various global markets.

UFP Retail Solutions, a segment of UFP Industries (NASDAQ: UFPI), will showcase its products at the NAHB International Builders’ Show in Las Vegas from January 31 to February 2, 2023. The brands Deckorators and UFP-Edge will display innovative offerings, including:

• Vista Decking with enhanced traction
• Aluminum Rapid Rail system for easy installation
• New lightweight composite decking
• Thermally Modified Wood Collection
• Primed Trim for protection against rot

Visitors can participate in a unique contest to win $5,000 by breaking a mineral-based composite deck board.

UFP Industries (Nasdaq: UFPI) has acquired Titan Corrugated, Inc., along with its affiliate All Boxed Up, LLC, marking a strategic move in the corrugated packaging sector. The acquisition adds approximately $46.5 million in sales, bolstering UFP's market presence. Titan, founded in 2003, specializes in various corrugated products and operates a highly automated facility in Texas. UFP aims to leverage Titan's efficiencies and expertise to expand its packaging solutions, with Titan's leadership remaining intact to drive future growth.

Deckorators, a leader in composite decking and accessories, released its 2023 Outdoor Living Report, highlighting trends in outdoor spaces as homeowners seek to enhance their outdoor living experiences. Key trends include Natural Neutrals inspired by nature, 365 Living for year-round use of outdoor areas, Dreaming Bigger with maximalist features, and Total Look focusing on cohesive materials. Experts predict more homeowners will invest in outdoor spaces for relaxation and entertainment, reflecting a shift towards maximizing outdoor time.

UFP Industries (UFPI) reported a 37% increase in earnings per share, reaching $2.66 for Q3 2022. The company achieved record net sales of $2.3 billion, an 11% year-over-year increase, driven by a 6% rise in prices and a 5% increase in unit sales. Earnings from operations rose by 41% to $237 million. New product sales grew by 38%, and adjusted EBITDA increased 46% to $274 million. The company maintains a robust balance sheet with $1.5 billion in liquidity and announced a 67% higher dividend of $0.25 per share for December.

UFP Industries (Nasdaq: UFPI) has named Will Schwartz as the new president of UFP Retail Solutions, effective January 1, 2023. This segment, which generates approximately $4 billion in revenue, includes notable brands like ProWood and Deckorators. Schwartz, who joined the company in 1998, has held various leadership positions and successfully managed supply chains during the pandemic. He takes over from Allen Peters, who becomes executive vice president of innovation. The company remains optimistic about its growth trajectory and Schwartz's leadership.

UFP Industries (Nasdaq: UFPI) announced the appointment of Allen Peters as executive vice president of innovation, effective January 1, 2023. Peters will lead the Innovation Accelerator and Innov8 Fund, using his experience from UFP Retail Solutions to drive new products and technology. CEO Matthew J. Missad expressed confidence in Peters' capabilities to achieve growth and innovation. The company is currently searching for a new president of UFP Retail Solutions, with an announcement expected by the end of September 2022.

UFP Industries (Nasdaq: UFPI) reported record net sales of $2.9 billion and net earnings of $203 million for Q2 2022, marking a 7% sales increase year-over-year. The company achieved earnings per diluted share of $3.23, a 16% increase. New product sales surged 37% to $181 million. Despite a 40% decline in retail gross profit due to falling lumber prices, the construction segment saw a 32% sales rise. The company maintains a strong liquidity of $1.16 billion and announced a 67% dividend increase to $0.25 per share.