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Sep 30, 2023
UFP Industries Q3 2023 Earnings Report
UFP Industries announced Q3 2023 results, with operating margins remaining historically strong.
Key Takeaways
UFP Industries reported a decrease in net sales by 21 percent to $1.83 billion, a decrease in net earnings attributable to controlling interests to $134 million, and a decrease in diluted EPS to $2.10. However, the company's operating margins have normalized above pre-pandemic levels due to its balanced business model and focus on value-added products.
Net sales decreased by 21% to $1.83 billion due to a 12% decrease in prices and a 9% decrease in organic unit sales.
New product sales as a percent of total sales rose to 9.7% from 7.8% in 2022.
Diluted EPS of $2.10 represents a 21% decrease from last year’s record quarter.
Adjusted EBITDA of $208 million decreased 24 percent while adjusted EBITDA margin declined 40 basis points to 11.4 percent, which exceeded the company’s minimum EBITDA margin target.
Revenue by Segment
Forward Guidance
This document does not contain forward guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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