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Dec 31, 2021
UFP Industries Q4 2021 Earnings Report
UFP Industries reported record net sales and net earnings for the fourth quarter and fiscal year 2021.
Key Takeaways
UFP Industries announced record net sales of $2.02 billion and record earnings per diluted share of $2.21 for the fourth quarter of fiscal year 2021. This represents a 45 percent increase in net sales and a 117 percent increase in earnings per diluted share compared to the fourth quarter of 2020. The company's new market-focused organizational structure and strategic investments contributed to this growth.
Net sales increased 45 percent to $2.02 billion, driven by organic unit sales growth, acquisitions, and lumber prices.
Earnings from operations increased 121 percent to $195 million, with acquisitions contributing $19 million.
Adjusted EBITDA increased 89 percent to $223.3 million, with margin expansion to 11.1 percent.
SG&A expenses increased due to higher bonus and sales incentive compensation, recent acquisitions, and increased wages and benefits.
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 is increasing its capital expenditure target to a range of $175-225 million in 2022.
Positive Outlook
- Additional capacity for Deckorators and UFP-Edge
- New locations that expand the geographic reach of the company’s site-built operations
- Automation
- Robotics and technology
- Upgrades to existing facilities that will help strengthen UFP’s position as an employer of choice
Revenue & Expenses
Visualization of income flow from segment revenue to net income