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Sep 24, 2022
UFP Industries Q3 2022 Earnings Report
UFP Industries reported record third quarter results with increased earnings per share and unit sales.
Key Takeaways
UFP Industries reported record net sales of $2.3 billion and net earnings attributable to controlling interests of $167 million for the third quarter of 2022. Earnings per diluted share increased 37 percent to $2.66. The company's balanced business model and market-focused organizational structure contributed to the strong performance.
Net sales increased 11 percent to $2.3 billion, driven by a 6 percent increase in prices and a 5 percent increase in unit sales.
Earnings from operations increased 41 percent to $237 million.
Adjusted EBITDA increased 46 percent to $274 million, with adjusted EBITDA margin improving by 280 basis points to 11.8 percent.
New product sales increased 38 percent to $178 million.
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
The company expects its balanced business model and operational improvements will continue to help navigate new external challenges, including rising interest rates and historically high inflation.
Positive Outlook
- Continued activity in commercial and infrastructure end markets.
- Favorable demographic trends in the markets served.
- Participation in more affordable housing and the multifamily market.
- Healthy pricing due to passing through inflationary costs.
- Benefit from focus on value-added products.
Challenges Ahead
- More normalized demand expected in UFP Retail Solutions.
- Monitoring business activity and key economic indicators for UFP Industrial.
- Exposure to a projected softening in the housing market.
- Rising interest rates.
- Historically high inflation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income