UFP Industries Reported Outstanding Q3 Results

SEATTLE (Scrap Monster): Grand Rapids, Michigan-headquartered UFP Industries, Inc. announced outstanding results for third quarter 2021.

The company reported net sales of $2.1 billion for the quarter, significantly higher by 41% over the prior year quarter. The earnings from operations have increased by 58% to $168 million. The adjusted EBITDA of $187.5 million was up by 49% year-on-year, whereas the adjusted EBITDA margin expanded by 50 basis points to 9%. The company reported earnings per share (EPS) of $1.93 per diluted share, compared to $1.25 in Q3 last year, said the news release.

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UFP Industries reported liquidity of approximately $668 million at the end of the quarter. It reported net debt of $182 million, compared with $32 million in net surplus cash a year before. The Board of Directors approved a quarterly dividend payment of $0.20 per share to shareholders of record on December 1, 2021, which will be payable on December 15, 2021.

The net sales of UFP Retail Solutions were down by 1% at $696 million. The UFP Industrial net sales surged higher significantly by 103% from third quarter 2020 to $573 million. Meantime, the UFP Construction business segment net sales were up by 62% year-on-year to $723 million.