This quarterly report represents an earnings surprise of 2.50%. A quarter ago, it was expected that this wood and materials provider for the construction industry would post earnings of $1.62 per share when it actually produced earnings of $1.96, delivering a surprise of 20.99%. UFP Industries shares have added about 1.2% since the beginning of the year versus the S&P 500's gain of 14.5%. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revision ...

UFP Industries, Inc. Page 1 ● Adjusted EBITDA1 of $204 million represents a decrease of 13 percent while adjusted EBITDA 1 Represents a non-GAAP measurement; see the reconciliation of non-GAAP financial measures and related explanations below. Capital Allocation - Acquisitions and Organic Growth. The company continues to pursue strategic acquisitions and will invest in organic growth opportunities when acquisition targets are not available at valuations that will allow us to meet or exceed targeted return r ...

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Financial Data and Key Metrics Changes - Adjusted EBITDA dropped 10.5% to $181 million, but the adjusted EBITDA margin improved sequentially to 11% [4] - Net sales for the quarter were $1.64 billion, down due to lower demand and lumber market levels, while EPS was $1.96, aided by a nonrecurring tax benefit [24][68] - SG&A expenses were $3 million lower than last year, primarily due to lower bonuses and sales incentives [5] Business Line Data and Key Metrics Changes - Retail segment sales dropped 17% to $629 million, with a 6% decline in selling prices and an 8% decline in unit sales [41] - Construction segment sales were flat at $518 million, with a 10% decline in selling prices offset by an 8% gain in units [13] - Packaging segment sales decreased 13% to $424 million, driven by an 11% decline in selling prices and a 6% decrease in units [42] Market Data and Key Metrics Changes - National year-over-year housing starts increased 7%, while Factory Built home shipments rose 17% year-to-date [43] - The purchasing managers index dropped below 50 in March, indicating continued softness in end consumer demand [60] Company Strategy and Development Direction - The company plans to increase capital expenditures to $250 million to $300 million in 2024, focusing on automation and higher margin growth opportunities [48][94] - The strategy includes pursuing M&A opportunities while also focusing on organic growth if suitable acquisition targets are not available [36][77] - The company aims to enhance its product offerings and market share through increased marketing and new product development [27][56] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for year-over-year improvements in the second half of the year, dependent on economic health and interest rates [49][119] - The company is adjusting to market conditions by improving operating costs and consolidating excess capacity while still investing for future growth [54][66] - Management noted that the current economic environment presents challenges, but the long-term outlook remains strong [62][119] Other Important Information - The company repurchased 671,000 shares at an average price of $114.43 and has $97 million remaining for stock repurchases [14][66] - The cash cycle improved to 62 days from 71 days last year, contributing to a $20 million improvement in cash used in operations [40][45] - The company declared a quarterly dividend of $0.33 per share, a 32% increase from the previous year [14][66] Q&A Session All Questions and Answers Question: Can you provide more color on the decorators segment? - The decorators segment saw a 4% increase in volumes, with sales up 10%, attributed to a favorable product mix and pricing [15][97] Question: What are the expectations for pricing in the construction industry? - Pricing is expected to stabilize at current levels, with demand driving any future changes [84][125] Question: How is the company managing SG&A expenses in a challenging environment? - The company is focused on driving efficiencies and managing SG&A costs downward, especially when profitability is lower [86][104] Question: What is the outlook for the retail segment? - The retail segment is experiencing soft demand, but the company remains confident in its market share and growth opportunities [108][125] Question: Can you provide updates on the Cedar Poly acquisition? - The integration has been successful, and the company is exploring additional opportunities to utilize recycled materials [114]

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 ...

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, 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 ...

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, 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 ...

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 ...