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.
News for UFP Industries, Inc. (UFPI) focuses on its role as a holding company whose subsidiaries manufacture, distribute, and sell value-added products for residential and commercial construction, packaging, and other industrial applications. Company announcements highlight developments across its UFP Packaging, UFP Construction, and UFP Retail Solutions segments, as well as updates on capital allocation and financial performance.
Investors and industry followers can find earnings releases and related conference call information, where UFP Industries reports net sales, net earnings, adjusted EBITDA, and segment performance for UFP Packaging, UFP Construction, and UFP Retail. These updates often include commentary on organic unit trends, pricing, and the company’s long-term goals for growth and margins.
The news stream also features product and brand launches from subsidiaries and business units. Examples include UFP Factory Built’s introduction of the BRAWN brand of structural and custom components for factory-built homes, RVs, and cargo trailers, ProWood’s TrueFrame Joist for professional deck framing, and UFP Packaging’s U-Loc 200 tool-free crate system. Such releases describe new structural components, framing solutions, decking-related products, and industrial packaging innovations.
Readers can follow segment and brand-level developments such as UFP Packaging’s corrugated division achieving FSC and SFI Chain of Custody certifications, or Edge expanding its distribution partnerships to reach additional markets. These updates provide insight into how the company’s brands operate within retail, construction, and industrial channels.
For those tracking UFPI, this news page aggregates company-issued press releases and related announcements, offering a centralized view of financial results, strategic actions, and product introductions across UFP Industries’ global network of affiliates and brands.
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.
UFP Industries, Inc. (Nasdaq: UFPI) is set to announce its second quarter financial results on July 21, 2022, after market close. The announcement will take place around 4:05 p.m. ET, followed by a conference call hosted by CEO Matt Missad and CFO Mike Cole at 4:30 p.m. ET. Investors can access the call through a webcast on the company's investor relations website. UFP Industries, headquartered in Grand Rapids, Mich., engages in manufacturing and distributing value-added products for construction and industrial applications worldwide.
UFP Industries (Nasdaq: UFPI) has been recognized as one of America's Best Mid-Sized Companies, ranking tenth on Forbes' annual list for 2022. The ranking involved over 1,000 companies evaluated based on earnings growth, sales growth, return on equity, and total stock return over the past five years. UFP reported record revenue of $8.64 billion in 2021, a 68% increase from 2020, and a record EPS of $8.59, up 115%. The company also increased its quarterly dividend by 67% to 25 cents per share, reflecting strong cash flow and commitment to investor returns.
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.