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UFP Industries(UFPI) - 2024 Q1 - Earnings Call Transcript
2024-04-30 15:33
Dick Gauthier - VP, IR Matt Missad - CEO Mike Cole - CFO Operator Company Participants Ketan Mamtora - BMO Capital Markets Stephan Guillaume - Sidoti Reuben Garner - Benchmark Kurt Yinger - D.A. Davidson Good day and welcome to the Q1 2024 UFP Industries, Inc. Earnings Conference Call and Webcast. At this time, all participants are in a listen-only-mode. [Operator Instructions] Please be advised that today's conference is being recorded. UFP Industries, Inc. (NASDAQ:UFPI) Q1 2024 Earnings Conference Call Ap ...
UFP Industries(UFPI) - 2024 Q1 - Quarterly Results
2024-04-30 12:00
UFP Industries, Inc. Page 1 Exhibit 99(a) News release ---------------AT THE COMPANY--------------- Dick Gauthier VP of Investor Relations (616) 365-1555 FOR IMMEDIATE RELEASE Tuesday, April 30, 2024 UFP Industries Announces First Quarter Results GRAND RAPIDS, Mich., Tuesday, April 30, 2024 – UFP Industries, Inc. (Nasdaq: UFPI) today announced first quarter 2024 results including net sales of $1.64 billion, net earnings attributable to controlling interests of $121 million, and earnings per diluted share of ...
UFP Industries(UFPI) - 2023 Q4 - Annual Report
2024-02-28 19:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 30, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period of ____ to _____. Commission File No.: 0-22684 UFP INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Michigan 38-1465835 (State or other jurisdiction of i ...
UFP Industries(UFPI) - 2023 Q4 - Earnings Call Transcript
2024-02-20 18:13
UFP Industries, Inc. (NASDAQ:UFPI) Q4 2023 Earnings Conference Call February 20, 2024 9:00 AM ET Company Participants Dick Gauthier - VP, IR Matt Missad - CEO Mike Cole - CFO Conference Call Participants Ketan Mamtora - BMO Capital Markets Kurt Yinger - D.A. Davidson Stanley Elliott - Stifel Jay McCanless - Wedbush Securities Operator Good day, and welcome to the Q4 2023 UFP Industries Inc. Earnings Conference Call and Webcast. After the speaker presentation, there will be a question-and-answer session. [Op ...
UFP Industries(UFPI) - 2023 Q3 - Quarterly Report
2023-11-08 21:54
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended September 30, 2023 Michigan 38-1465835 (State or other jurisdiction of incorporation or (I.R.S. Employer Identification Number) organization) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-22684 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 2801 East Beltline NE, G ...
UFP Industries(UFPI) - 2023 Q3 - Earnings Call Transcript
2023-10-31 14:48
UFP Industries, Inc. (NASDAQ:UFPI) Q3 2023 Earnings Conference Call October 31, 2023 9:00 AM ET Company Participants Dick Gauthier - Vice President, Investor Relations Matt Missad - Chief Executive Officer Mike Cole - Chief Financial Officer Conference Call Participants Julio Romero - Sidoti & Co Kurt Yinger - D.A. Davidson Ketan Mamtora - BMO Capital Markets Operator Good day, and welcome to the Q3 2023 UFP Industries, Inc. Earnings Conference Call and Webcast. At this time, all participants are in a lis ...
UFP Industries(UFPI) - 2023 Q2 - Earnings Call Transcript
2023-08-03 02:25
Stanley Elliott And could you speak maybe a little more to the competitive pressures you guys saw in the packaging? And then I guess there's another thing, it looks like the PMIs are going to start -- or in the bottoming process may be actually even improving by the end of the year. Do you think you'll end up seeing that -- will it be a lag before that starts to benefit some of the packaging businesses? Or should it be kind of more in line with how those PMIs track? Matt Missad Yes. There's a couple of diff ...
UFP Industries(UFPI) - 2023 Q1 - Earnings Call Transcript
2023-05-03 01:27
UFP Industries, Inc. (NASDAQ:UFPI) Q1 2023 Earnings Conference Call May 2, 2023 4:30 PM ET Company Participants Dick Gauthier – Vice President-Investor Relations Matt Missad – Chief Executive Officer Mike Cole – Chief Financial Officer Conference Call Participants Stanley Elliot – Stifel Reuben Garner – Benchmark Company Ketan Mamtora – BMO Capital Markets Kurt Yinger – D.A. Davidson Operator Good day, and welcome to the Q1 2023 UFP Industries Inc. Earnings Conference Call and Webcast. At this time, all par ...
UFP Industries(UFPI) - 2022 Q4 - Annual Report
2023-03-01 20:00
Revenue Growth and Market Share - Revenue growth from 2011 to 2019 increased from $1.8 billion to $4.4 billion, reflecting a strong sales culture and customer relationships [19] - The Retail Solutions segment accounted for approximately 15% of total net sales from The Home Depot and 11% from Lowes in fiscal 2022 [29] - The company estimates it produces approximately 28% of all residential treated wood, 5-6% of all composite decking and accessories, and 9% of all wood and vinyl fencing in the United States [28] - For 2022, the company purchased approximately 7% of the 53 billion board feet of North America softwood production, totaling around $3.0 billion in lumber purchases [43][44] - The company has a market share of approximately 15% in domestic customized structural packaging and 10% in new machine-built wood pallets [34] - The Factory-Built Housing unit estimates it produces approximately 45% of all roof trusses used in factory-built housing in the United States [37] - The Site-Built Construction unit estimates it produces approximately 6% of all engineered wood components used in housing in the United States [39] - The Commercial Construction unit has a market share of approximately 3% of the total domestic and architectural millwork market [40] Business Strategy and Restructuring - The company plans to continue acquiring companies to enhance its packaging solutions capabilities [34] - The restructuring into three business segments aims to improve customer service, operational efficiency, and capital deployment [21] Backlog Orders - As of December 31, 2022, backlog orders for customized interior fixture businesses were approximately $136.7 million, up from $84.6 million on December 25, 2021, representing a growth of 61.5% [47] - Backlog orders for site-built construction businesses were approximately $91.1 million as of December 31, 2022, down from $113.5 million on December 25, 2021, indicating a decline of 19.7% [48] Debt and Cash Flow - The estimated fair value of long-term debt, including the current portion, was $242.1 million as of December 31, 2022 [99] - Expected cash flows related to fixed-rate long-term debt over the next five years total approximately $266.6 million, with an average interest rate of 3.54% [101] - For variable-rate debt, expected cash flows total approximately $11.7 million over the next five years, with an average interest rate of 9.20% [101] Employee Development and Commitment - The company had approximately 15,500 employees as of December 31, 2022, emphasizing a commitment to employee development and career growth [49] - The company has removed the requirement of a 4-year degree for sales and management positions to broaden the talent pool and enhance employee growth opportunities [53] - The company is focused on operational excellence and employee health and safety, aiming to foster a culture of equal opportunity and professional development [52] Environmental Commitment - The company plans to disclose its Scope 1 and Scope 2 greenhouse gas emissions in 2023, reflecting its commitment to environmental stewardship [51] - The company will publish its ESG Report in March 2023, detailing its current state and future outlook on sustainability and governance [50]
UFP Industries(UFPI) - 2022 Q4 - Earnings Call Transcript
2023-02-22 02:31
UFP Industries, Inc. (NASDAQ:UFPI) Q4 2022 Results Conference Call February 21, 2023 4:30 PM ET Company Participants Dick Gauthier - IR Matt Missad - CEO Mike Cole - CFO Conference Call Participants Julio Romero - Sidoti Kurt Yinger - D.A. Davidson Stanley Elliott - Stifel Reuben Garner - Benchmark Company Jay McCanless - Wedbush Securities Ketan Mamtora - BMO Capital Markets Kurt Yinger - D.A. Davidson Operator Good day, and welcome to the Q4 2022 UFP Industries, Inc. Earnings Conference Call and Webcast. ...