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Sep 30, 2021
UFP Industries Q3 2021 Earnings Report
UFP Industries reported record results for the third quarter of 2021, driven by strong sales growth and improved profitability.
Key Takeaways
UFP Industries reported a 41% increase in net sales, reaching $2.1 billion, and a 57% increase in net earnings, totaling $121 million for the third quarter of 2021. The company's balanced business model and diversity of markets contributed to the record profitability, with growth experienced across the industrial and construction segments.
Net sales increased by 41% to $2.1 billion, driven by a 28% increase in selling prices and a 16% unit increase from acquisitions.
Earnings from operations increased by 58% to $168 million, including a $9 million gain on the sale of real estate.
Adjusted EBITDA increased by 49% to $187.5 million, with the adjusted EBITDA margin expanding by 50 basis points to 9%.
The Board of Directors approved a 33% increase in the quarterly dividend to $0.20 per share.
Revenue by Segment
Forward Guidance
UFP Industries did not provide specific forward guidance in the earnings report.
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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