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Jun 30, 2020
UFP Industries Q2 2020 Earnings Report
Reported record net earnings for the second quarter with diluted EPS up 23 percent and EBITDA up 22 percent.
Key Takeaways
UFP Industries reported record net earnings attributable to controlling interest of $66.5 million for the second quarter of 2020, with record EPS of $1.08 per diluted share. The increase in home improvement activity benefited the retail segment, while the industrial and construction segments were negatively impacted by virus-related shutdowns. Conditions improved throughout the quarter, with retail demand accelerating and headwinds in industrial and construction easing.
Net earnings attributable to controlling interest reached a record $66.5 million.
Earnings per diluted share (EPS) also hit a record of $1.08, a 23% increase year-over-year.
The company acquired T&R Lumber to expand its value-added service and product offering.
Available liquidity stands at over $562 million, with a strong pipeline of acquisition targets.
UFP Industries
UFP Industries
UFP Industries Revenue by Segment
Revenue by Segment
Retail Revenue
CapyFin.comConstruction Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
UFP Industries will conduct a conference call to discuss information included in this news release and related matters at 8:30 a.m. ET on Thursday, July 23, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income