Ufp Industries Inc Stock Price, News & Analysis

UFP Industries (Nasdaq: UFPI) announced that its affiliate, PalletOne, has acquired a 50% equity stake in Dempsey Wood Products, a manufacturer of kiln-dried lumber and industrial wood products, for an undisclosed amount. Founded in 1988, Dempsey Wood Products reported 2021 sales of $68.9 million. This acquisition secures a vital supply of industrial lumber for PalletOne, addressing a market shortage. PalletOne has the option to acquire the remaining 50% after three years, enhancing operational efficiency and expanding market reach for both companies.

UFP Industries (Nasdaq: UFPI) has been ranked 401 on the FORTUNE 500 list, marking a significant leap of 117 places from its previous rank of 518 in 2021. This marks the company’s return to the FORTUNE 500 since 1994. In 2021, UFP reported record revenues of $8.64 billion, up 68% from 2020, and EPS increased by 115% to $8.59. Additionally, the company announced a quarterly dividend increase to 25 cents per share, a 67% rise compared to 2021. CEO Matthew J. Missad expressed gratitude to customers and emphasized ongoing innovation.

On June 2, 2022, UFP Industries (Nasdaq: UFPI) announced that CEO Matt Missad and CFO Mike Cole will attend the Stifel Cross Sector Insight Conference in Boston on June 9, 2022. Their presentation is scheduled for 10:55 a.m. ET, available via a live webcast on the Investor Relations section of UFPI's website. UFP Industries, headquartered in Grand Rapids, Michigan, specializes in manufacturing and distributing value-added products for construction and industrial applications globally. More information can be found at ufpinvestor.com.

UFP Industries (Nasdaq: UFPI) announced the acquisition of Cedar Poly LLC for $17 million, which includes performance-based incentives up to $1.5 million over three years. Cedar Poly, based in Iowa, specializes in recycling high-density and low-density polyethylene, with 2021 sales of approximately $17.3 million. This acquisition aims to enhance UFP's sustainability efforts by increasing the use of recycled materials in its Deckorators product line. The decking market is expected to double in size in the next 5-7 years, primarily driven by composite decking growth.

UFP Industries (Nasdaq: UFPI) announced the retirement of President and COO Pat Webster at the end of 2022, concluding a nearly 40-year career with the company. Webster, who joined UFP in 1985, held multiple leadership positions, becoming president and COO in 2008.

CEO Matthew J. Missad praised Webster's leadership, integrity, and achievements in workforce development and quality control. Webster expressed gratitude towards customers and the UFP team, confident in the capabilities of the company's leadership to sustain its vision and values.

UFP Industries (Nasdaq: UFPI) reported record net sales of $2.49 billion and net earnings of $190 million for Q1 2022, marking a 36% increase in sales year-over-year. Earnings per diluted share surged 80% to $3.00. The company also increased its quarterly dividend by 67% to $0.25 per share. Key factors driving growth included a 26% rise in lumber prices and successful acquisitions. However, SG&A expenses rose 47% to $70 million, primarily due to increased profitability bonuses. UFP maintains a robust balance sheet with $445 million in liquidity.

UFP Industries, Inc. (Nasdaq: UFPI) has scheduled a conference call for April 21, 2022, at 4:30 p.m. ET to discuss its Q1 2022 financial results. The call will be hosted by CEO Matthew J. Missad and CFO Michael Cole. Investors can access the webcast on UFP's website under Investor Relations. A replay of the call will be available until April 23, 2022. This conference call presents an opportunity for shareholders to gain insights into the company's recent performance and outlook.

UFP Industries (NASDAQ: UFPI) announced record net sales of $8.64 billion for fiscal 2021, a 68% increase year-over-year. In Q4, net sales reached $2.02 billion, a 45% rise, with diluted EPS soaring by 117% to $2.21. The company made nine acquisitions in 2021, contributing significantly to sales growth. Despite a rise in SG&A expenses by 54% due to increased profitability, adjusted EBITDA grew by 93% to $834.9 million. UFP anticipates capital expenditures between $175-225 million in 2022 and has authorized a new $2.6 million share repurchase program to offset dilution.

UFP Industries announces a quarterly dividend of $0.20 per share, marking a 33% increase from last year's dividend of $0.15. This dividend will be payable on March 15, 2022, to shareholders recorded by March 1, 2022. The company's chairman expressed confidence in UFP's strong cash flow and future growth potential, highlighting its commitment to share success with investors. UFP Industries operates globally in manufacturing and distributing value-added products for construction and industrial applications.