Ufp Industries Inc Stock Price, News & Analysis

UFP Industries (Nasdaq: UFPI) has announced a quarterly dividend of $0.15 per share, reflecting a 20% increase from 2020. This dividend is payable on September 15, 2021, to shareholders of record by September 1, 2021. The decision follows record net sales, net earnings, and earnings per share for Q2 2021, marking the best quarter in the company’s history. Chairman William G. Currie expressed confidence in the company's growth and liquidity, indicating prospects for enhanced returns for shareholders.

UFP Industries reported record net sales of $2.7 billion for Q2 2021, a 117% increase year-over-year, with earnings rising 161% to $173 million. This growth was driven by a 70% increase in selling prices, with acquisitions contributing $455 million to sales. The EPS rose to $2.78 from $1.08. Despite challenges from lumber price fluctuations, effective inventory management and a diversified business model helped mitigate impacts. SG&A expenses grew by 62% largely due to acquisitions, but improved as a percentage of gross profit from 56% to 44%.

UFP Industries (Nasdaq: UFPI) announced the acquisition of Endurable Building Products, a significant player in manufacturing customized structural aluminum systems, for $15 million in sales in 2020. This acquisition will enhance UFP's offerings in prefabricated aluminum products, targeting multifamily construction markets. UFP Construction's president, Patrick Benton, highlighted the strategic importance of this move in strengthening relationships with existing customers and expanding product services. Endurable's leadership will remain intact to facilitate growth.

UFP Industries (Nasdaq: UFPI) has approved a quarterly dividend of $0.15 per share, reflecting a 20% increase over 2020. This dividend will be paid on June 15, 2021, to shareholders of record on June 1, 2021. The decision stems from the company's outstanding first-quarter performance, achieving record sales, net earnings, and earnings per share. Chairman William G. Currie expressed confidence in future earnings, highlighting the company's robust strategic plan and talented workforce.

UFP Industries (Nasdaq: UFPI) reported record net sales of $1.83 billion for Q1 2021, a 77% increase year-over-year, along with net earnings of $103 million, up 157%. This growth was attributed to a 33% rise in unit sales, with the remainder driven by increased selling prices due to elevated softwood lumber costs. New product sales surged 58% to $159.4 million. The company also faced rising SG&A expenses but maintained a strong liquidity position with $421 million. Recent acquisitions aim to enhance capacity and product offerings, supporting ongoing growth strategies.

UFP Industries, Inc. (Nasdaq: UFPI) announced the acquisition of Spartanburg Forest Products, Inc. for approximately $16.5 million, which includes property, plants, and equipment. Additionally, Sunbelt Forest Products acquired Spartanburg's net working capital valued at around $146.5 million. This strategic purchase is expected to enhance product offerings and expand capacity and geographic reach, according to Ken DelleDonne, president of Sunbelt. The acquisition aims to improve supply chain efficiencies as the two companies combine operations.

UFP Industries, Nasdaq: UFPI, will host a conference call on April 21, 2021, at 4:30 p.m. ET to discuss its Q1 2021 results. The call will feature CEO Matthew J. Missad and CFO Michael Cole. Investors can access the call via a webcast on the company’s website under Investor Relations. A replay of the call will be available until April 24, 2021.

UFP Industries (UFPI) announced the acquisition of Walnut Hollow Farm, a wood products manufacturer, for an undisclosed amount. The deal is expected to close by the end of April 2021, pending customary conditions. Walnut Hollow, established in 1972, reported sales of approximately $11 million in 2020 and specializes in wood surfaces and tools for hobbyists. The acquisition is anticipated to enhance Handprint's product offerings and customer relationships in the home décor sector. The current leadership will transition as consultants to facilitate a smooth handover.

UFP Industries, Inc. (Nasdaq: UFPI) announced on March 1, 2021, the acquisition of J.C. Gilmore Pty Ltd assets by its subsidiary, The UBEECO Group. This move enhances UBEECO's portfolio with protective packaging products and expands its customer base in Australia. Gilmores, founded in 1988, reported sales of $15 million AUD in 2020 and will continue to be led by its founders. The acquisition aims to leverage Gilmores' strong reputation and create growth opportunities, particularly in New South Wales and Queensland.