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Mar 31, 2025
UFP Industries Q1 2025 Earnings Report
Results for the first quarter ended March 2025
Key Takeaways
UFP Industries announced first quarter 2025 results with net sales of $1.60 billion, a 2.7% decrease year-over-year, and net earnings of $78.8 million, a 35% decrease. The CEO noted a challenging quarter with limited visibility but saw sequential business improvement and is focused on profitability, cost savings, and strategic investments.
Net sales decreased 2.7 percent to $1.60 billion, driven by lower selling prices and reduced organic unit sales.
Net earnings attributable to controlling interests fell 35 percent to $78.8 million.
Adjusted EBITDA was $142.2 million, representing 8.9 percent of sales.
The company maintained a strong balance sheet with $903.6 million in cash as of March 29, 2025.
Revenue by Segment
Forward Guidance
Management anticipates softer demand and a competitive pricing environment to persist through 2025, resulting in a slight overall demand decrease across segments, with a decline in Site Built partially offset by growth in Factory Built. The company believes it is well-positioned to manage potential lumber tariffs.
Positive Outlook
- Sequential business activity improved throughout Q1 2025 and into April.
- Company remains on target to achieve $60 million of structural cost savings by year-end 2026.
- Accelerating investments into higher-growth and higher-margin opportunities.
- Strong balance sheet and free cash flow generation provide flexibility for investment and share repurchases.
- Diverse and balanced customer base is expected to help navigate market challenges.
Challenges Ahead
- First quarter proved more challenging than anticipated.
- Visibility remains limited.
- Softer demand and competitive pricing environment are expected to continue through the remainder of 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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