Financial Data and Key Metrics Changes - Consolidated sales decreased by 7% to $1.9 billion, primarily due to a 6% reduction in selling prices and a 1% decline in unit sales [10] - Adjusted EBITDA dropped 13% to $204 million, with an adjusted EBITDA margin of 10.7%, remaining above historical levels [10] - Cash flow from operations was $239 million, down from $321 million last year, attributed to a decline in net earnings and increased investment in net working capital [13] Business Line Data and Key Metrics Changes - Retail segment sales fell 14% to $809 million, driven by a 7% decline in selling prices and a 5% drop in unit sales [11] - Construction segment sales increased 4% to $575 million, with a 4% decline in selling prices offset by a 7% gain in units [28] - Packaging segment sales dropped 11% to $435 million, consisting of an 8% decline in selling prices and a 6% decrease in units [84] Market Data and Key Metrics Changes - Demand in the retail market is expected to decrease mid-single digits for the remainder of 2024, while construction is anticipated to increase below mid-single digits [47] - The lumber market is expected to remain below normal levels as supply exceeds demand, impacting pricing and production [25] Company Strategy and Development Direction - The company is focusing on maximizing capacity utilization through strategic facility rationalization and reducing SG&A costs [4] - Plans to allocate $300 million in packaging and $250 million in the Deckorators brand for marketing and new product launches [22] - The company is prioritizing organic growth and greenfield opportunities over acquisitions due to high valuations in the current M&A environment [5] Management's Comments on Operating Environment and Future Outlook - Management anticipates a challenging second half of 2024 with continued competitive pressures and slack demand [4] - Long-term confidence remains strong, with a focus on innovation, new products, and automation to drive future growth [21] - The company expects to gain market share in each segment despite short-term challenges [47] Other Important Information - The company has a strong balance sheet with over $1 billion in surplus cash and total liquidity of $2.3 billion [80] - A quarterly dividend of $0.33 per share was approved, representing a 10% increase from the previous year [80] Q&A Session Summary Question: What are the opportunities for market share gains in other markets? - Management highlighted geographic expansion in Site Built and customer acquisition in Packaging as key areas for market share growth [32] Question: Are there expected changes in retail positioning for Deckorators? - Management indicated a significant shift in customer concentration is expected in 2025, with positive growth anticipated for Deckorators [34] Question: What is the outlook for competitive pricing pressures in retail and construction? - Management noted that pricing adjustments are ongoing, with competitive pressures being manageable at this stage [52] Question: How are new products performing in terms of margins? - New products are meeting higher margin targets, contributing positively to overall growth and EBITDA margins [67] Question: What is the timeline for the planned investments? - Investments are expected to be deployed over the next 24 months, with a focus on achieving historical returns [55][56]

Adjusted EBITDA margin fell 420 bps from the prior year to 9.9%. The company remains focused on its long-term expansion plans and improvement strategies amid a weaker environment and near-term softness in demand. These efforts are investments in automation and consolidating operations to eliminate redundancies, as well as reduce costs and enhance the profitability of its facilities. UFP Industries reported earnings per share (EPS) of $2.05, which topped the consensus mark of $2.00 by 2.5% but declined 13.1% ...

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 ...

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today. Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipu ...

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]

[Executive Summary & Q1 2024 Highlights](index=1&type=section&id=1.%20Executive%20Summary%20%26%20Q1%202024%20Highlights) UFP Industries reported Q1 2024 net sales of $1.64 billion, net earnings of $121 million, and diluted EPS of $1.96, emphasizing operational efficiency and growth [First Quarter 2024 Financial Overview](index=1&type=section&id=1.1%20First%20Quarter%202024%20Financial%20Overview) UFP Industries announced first-quarter 2024 results with net sales of $1.64 billion, net earnings attributable to controlling interests of $121 million, and diluted EPS of $1.96 Q1 2024 Key Financials | Metric | Q1 2024 | | :---------------------------------- | :---------- | | Net Sales | $1.64 billion | | Net Earnings Attributable to Controlling Interests | $121 million | | Earnings Per Diluted Share | $1.96 | [CEO Commentary & Strategic Focus](index=1&type=section&id=1.2%20CEO%20Commentary%20%26%20Strategic%20Focus) Chairman and CEO Matthew J. Missad highlighted that Q1 results met expectations, emphasizing a focus on improving operational efficiencies through automation and technology, consolidating operations, and investing in growth via new products and capacity expansion - The company is focused on improving operational efficiencies by investing in **automation and technology**, and consolidating operations[2](index=2&type=chunk) - Investments in growth include **new products** and additional capacity in **new regions**[2](index=2&type=chunk) - UFP Industries plans to leverage **strong cash flow and liquidity** for increased **share repurchase activity** and **quarterly dividend payouts**[2](index=2&type=chunk) [Key Financial Highlights](index=1&type=section&id=1.3%20Key%20Financial%20Highlights) First quarter 2024 saw a 10% decrease in net sales to $1.64 billion, primarily due to lower selling prices and organic unit sales, with Adjusted EBITDA also decreasing by 10% to $181 million Q1 2024 Key Financial Highlights (Year-over-Year) | Metric | Q1 2024 | YoY Change | | :---------------------------------- | :---------- | :--------- | | Net Sales | $1.64 billion | -10% | | New Product Sales | $124 million | (7.6% of total sales, up from 7.4% in Q1 2023) | | Adjusted EBITDA | $181 million | -10% | | Adjusted EBITDA Margin | 11% | -10 basis points | | Net Earnings Attributable to Controlling Interests | $121 million | -4% | - The **10% decrease in net sales** was driven by a **9% decrease in selling prices** and a **1% decrease in organic unit sales**[5](index=5&type=chunk) - Net earnings included a favorable impact of a **$9.7 million increase** in an anticipated tax deduction related to the company's share-based compensation plan[6](index=6&type=chunk) [Capital Allocation](index=3&type=section&id=2.%20Capital%20Allocation) The company maintains strong liquidity, targets significant capital investments, and enhances shareholder returns through increased dividends and share repurchases [Balance Sheet and Liquidity](index=3&type=section&id=2.1%20Balance%20Sheet%20and%20Liquidity) UFP Industries maintains a robust financial position, reporting $702.6 million in net surplus cash as of March 30, 2024, a significant increase from $145.3 million in the prior year Balance Sheet and Liquidity (as of March 30) | Metric | 2024 | 2023 | | :---------------- | :----------- | :----------- | | Net Surplus Cash | $702.6 million | $145.3 million | | Liquidity | ~$2.2 billion | N/A | [Strategic Investments](index=3&type=section&id=2.2%20Strategic%20Investments) The company is actively pursuing strategic acquisitions and organic growth, targeting up to $300 million in capital investments for 2024, including significant allocations for automation and new facilities - UFP Industries continues to pursue **strategic acquisitions** that drive long-term growth and margin improvements[9](index=9&type=chunk) - The company targets capital investments of up to **$300 million in 2024**[9](index=9&type=chunk) - Approximately **$100 million** is targeted for **automation and technology upgrades**, and another **$100 million** for **new facilities and increased capacity**[9](index=9&type=chunk) [Shareholder Returns](index=3&type=section&id=2.3%20Shareholder%20Returns) UFP Industries increased its quarterly dividend payment by 32% to $0.33 per share and actively repurchased shares, with $97 million remaining in its authorization Dividend Payments | Dividend Type | Q2 2024 (Approved April 24) | Q2 2023 (Paid June) | | :---------------- | :---------------------------- | :------------------ | | Quarterly Dividend | $0.33 per share | $0.25 per share | | YoY Increase | +32% | N/A | Share Repurchases | Period | Shares Repurchased (approx.) | Total Value (approx.) | Average Price | | :-------------------------------- | :--------------------------- | :-------------------- | :------------ | | July 26, 2023 - Q1 2024 end | 594,000 | $63.3 million | $106.64 | | Q1 2024 | 319,000 | $36.6 million | $114.74 | | April 2024 | 352,000 | $40.2 million | $114.15 | | Remaining Authorization (as of April 30, 2024) | N/A | $97 million | N/A | [Segment Performance](index=3&type=section&id=3.%20Segment%20Performance) UFP Industries' segments showed varied Q1 2024 performance, with Retail and Packaging sales declining, while Construction sales remained stable with unit growth [UFP Retail Solutions](index=3&type=section&id=3.1%20UFP%20Retail%20Solutions) The Retail Solutions segment reported net sales of $629 million, a 17% decrease year-over-year, primarily due to declines in selling prices and organic unit sales, despite an increase in Deckorators decking and railing products UFP Retail Solutions Q1 2024 Performance | Metric | Q1 2024 | YoY Change | | :---------------- | :---------- | :--------- | | Net Sales | $629 million | -17% | | Gross Profit | $101 million | +6% | | Unit Sales (Overall) | N/A | -9% (big box), -7% (independent retailers) | | Unit Sales (Deckorators) | N/A | +4% | | Unit Sales (ProWood) | N/A | -9% | - The **17% net sales decline** was attributed to a **6% decline in selling prices**, a **3% decline due to sales transfers**, and an **8% decline in organic unit sales**[8](index=8&type=chunk) - Gross profit increase was primarily due to **operational improvements**, **SKU rationalization**, and **better inventory positioning**[8](index=8&type=chunk)[10](index=10&type=chunk) [UFP Packaging](index=5&type=section&id=3.2%20UFP%20Packaging) UFP Packaging's net sales decreased by 13% to $424 million in Q1 2024, mainly due to an 11% decrease in selling prices and a 6% decline in organic unit sales, with gross profit decreasing by 29% due to competitive price pressure UFP Packaging Q1 2024 Performance | Metric | Q1 2024 | YoY Change | | :---------------- | :---------- | :--------- | | Net Sales | $424 million | -13% | | Gross Profit | $85 million | -29% | | Unit Sales (PalletOne) | N/A | +9% | | Unit Sales (Structural Packaging) | N/A | -11% | - The **13% net sales decrease** was driven by an **11% decrease in selling prices** and a **6% decline in organic unit sales**, partially offset by a **4% increase from sales transfers**[11](index=11&type=chunk) - Gross profit decline was attributed to **competitive price pressure**[11](index=11&type=chunk) [UFP Construction](index=5&type=section&id=3.3%20UFP%20Construction) The Construction segment's net sales remained relatively unchanged at $518 million in Q1 2024, as an 8% increase in organic unit sales, particularly in Site Built and Factory Built, offset a 10% decrease in selling prices UFP Construction Q1 2024 Performance | Metric | Q1 2024 | YoY Change | | :---------------- | :---------- | :--------- | | Net Sales | $518 million | Relatively unchanged | | Gross Profit | $114 million | -6% | | Organic Unit Sales (Overall) | N/A | +8% | | Organic Unit Sales (Site Built) | N/A | +18% | | Organic Unit Sales (Factory Built) | N/A | +13% | - The stable net sales were a result of a **10% decrease in selling prices** being offset by an **8% increase in organic unit sales** and a **2% increase from sales transfers**[12](index=12&type=chunk) - Gross profit decrease was due to **competitive price pressure**[12](index=12&type=chunk) [Short-Term Outlook](index=5&type=section&id=4.%20Short-Term%20Outlook) UFP Industries anticipates stable lumber prices and a soft demand environment for most of 2024, with improvements expected in the latter half [Lumber Market Outlook](index=5&type=section&id=4.1%20Lumber%20Market%20Outlook) UFP Industries anticipates lumber prices will remain at lower, more historical levels throughout 2024, based on current supply and demand dynamics - Lumber prices are expected to remain at **lower, more historical levels in 2024**[13](index=13&type=chunk) [End Market Demand Forecast](index=5&type=section&id=4.2%20End%20Market%20Demand%20Forecast) The company has revised its demand outlook based on recent macroeconomic data, projecting mid-single digit declines for packaging and retail, and a stable to slightly down construction segment for 2024 - Demand for packaging and retail segments is anticipated to be **down mid-single digits in 2024**[14](index=14&type=chunk) - Demand for the construction segment is expected to be **slightly up to slightly down in 2024**[14](index=14&type=chunk) - A **soft demand and competitive price environment** is expected to continue for most of the year, with **year-over-year improvements in the back half** due to more favorable comparisons[14](index=14&type=chunk) [Company Information & Disclosures](index=5&type=section&id=5.%20Company%20Information%20%26%20Disclosures) This section covers Q1 2024 conference call details, company overview, and standard disclaimers for forward-looking statements and non-GAAP financial measures [Conference Call Details](index=5&type=section&id=5.1%20Conference%20Call%20Details) UFP Industries hosted a conference call on Tuesday, April 30, 2024, at 9 a.m. ET to discuss its outlook and Q1 results, with webcast and replay options available - A conference call was held on **Tuesday, April 30, 2024, at 9 a.m. ET**, hosted by Chairman and CEO Matthew J. Missad and CFO Michael Cole[15](index=15&type=chunk) - The call was available via webcast at **www.ufpinvestor.com/news-filings-reports > Events & Presentations**, with a replay also accessible[15](index=15&type=chunk) [About UFP Industries, Inc.](index=6&type=section&id=5.2%20About%20UFP%20Industries,%20Inc.) UFP Industries, Inc. is a holding company founded in 1955, headquartered in Grand Rapids, Mich., with operating subsidiaries manufacturing and distributing value-added products globally, and is ranked 403 on the Fortune 500 - UFP Industries is a holding company with operating subsidiaries: **UFP Packaging, UFP Construction, and UFP Retail Solutions**[16](index=16&type=chunk) - The company manufactures, distributes, and sells **value-added products** for residential and commercial construction, packaging, and other industrial applications worldwide[16](index=16&type=chunk) - Founded in **1955** and headquartered in Grand Rapids, Mich., UFP Industries is ranked **403 on the Fortune 500**[16](index=16&type=chunk) [Forward-Looking Statements](index=6&type=section&id=5.3%20Forward-Looking%20Statements) This section contains a standard disclaimer regarding forward-looking statements, noting that they are based on management's beliefs and involve risks and uncertainties, and advises investors that actual results may differ materially from projections - The press release contains forward-looking statements based on management's beliefs, assumptions, expectations, estimates, and projections[17](index=17&type=chunk) - These statements do not guarantee future performance and involve **risks, uncertainties, and assumptions** that are difficult to predict[17](index=17&type=chunk) - Investors are cautioned that actual results could differ materially from forward-looking statements, and the company does not undertake to update them[17](index=17&type=chunk) [Non-GAAP Financial Information](index=6&type=section&id=5.4%20Non-GAAP%20Financial%20Information) The release includes non-GAAP financial information, specifically Adjusted EBITDA, which management uses to evaluate operations and enable meaningful comparisons, clarifying it is a supplement to, not a substitute for, GAAP financial results - The release includes non-GAAP financial information, specifically **Adjusted EBITDA**, which management uses to evaluate historical and ongoing operations[18](index=18&type=chunk) - Adjusted EBITDA is intended to supplement and should be read together with GAAP financial results, not as an alternative or superior measure[18](index=18&type=chunk) - Non-GAAP financial information may not be comparable to similarly titled measures used by other companies[18](index=18&type=chunk) [Condensed Consolidated Financial Statements](index=7&type=section&id=6.%20Condensed%20Consolidated%20Financial%20Statements) This section presents unaudited condensed consolidated financial statements for Q1 2024 and 2023, including earnings, segment performance, balance sheets, and cash flows [Condensed Consolidated Statements of Earnings and Comprehensive Income](index=7&type=section&id=6.1%20Condensed%20Consolidated%20Statements%20of%20Earnings%20and%20Comprehensive%20Income) This section presents the unaudited condensed consolidated statements of earnings and comprehensive income for the three months ended March 2024 and 2023, detailing net sales, cost of goods sold, gross profit, operating expenses, net earnings, and earnings per share Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) | (In thousands, except per share data) | 2024 | 2023 | | :------------------------------------ | :----------- | :----------- | | NET SALES | $1,638,966 | $1,822,476 | | COST OF GOODS SOLD | 1,312,888 | 1,464,147 | | GROSS PROFIT | 326,078 | 358,329 | | SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 192,059 | 194,683 | | EARNINGS FROM OPERATIONS | 133,823 | 161,708 | | NET EARNINGS ATTRIBUTABLE TO CONTROLLING INTEREST | $120,791 | $126,069 | | EARNINGS PER SHARE - DILUTED | $1.96 | $1.98 | [Condensed Consolidated Statements of Earnings by Segment](index=8&type=section&id=6.2%20Condensed%20Consolidated%20Statements%20of%20Earnings%20by%20Segment) This table provides a breakdown of net sales, cost of goods sold, gross profit, and earnings from operations for each business segment (Retail, Packaging, Construction, All Other, and Corporate) for the three months ended March 2024 and 2023 Condensed Consolidated Statements of Earnings by Segment (Unaudited) - Q1 2024 | (In thousands) | Retail | Packaging | Construction | All Other | Corporate | Total | | :--------------- | :------- | :---------- | :----------- | :-------- | :-------- | :---------- | | NET SALES | $628,765 | $424,418 | $517,896 | $66,947 | $940 | $1,638,966 | | GROSS PROFIT | 101,124 | 85,440 | 114,335 | 17,945 | 7,234 | 326,078 | | EARNINGS FROM OPERATIONS | $45,980 | $31,246 | $45,342 | $3,873 | $7,382 | $133,823 | Condensed Consolidated Statements of Earnings by Segment (Unaudited) - Q1 2023 | (In thousands) | Retail | Packaging | Construction | All Other | Corporate | Total | | :--------------- | :------- | :---------- | :----------- | :-------- | :-------- | :---------- | | NET SALES | $761,294 | $486,561 | $515,593 | $55,795 | $3,233 | $1,822,476 | | GROSS PROFIT | 121,659 | 95,304 | 120,898 | 18,770 | 1,698 | 358,329 | | EARNINGS FROM OPERATIONS | $54,248 | $40,258 | $54,732 | $4,832 | $7,638 | $161,708 | [Adjusted EBITDA Reconciliation by Segment](index=9&type=section&id=6.3%20Adjusted%20EBITDA%20Reconciliation%20by%20Segment) This section provides a reconciliation of net earnings to Adjusted EBITDA for each segment and the total company for the three months ended March 2024 and 2023, along with Adjusted EBITDA as a percentage of net sales Adjusted EBITDA Reconciliation by Segment (Unaudited) - Q1 2024 | (In thousands) | Retail | Packaging | Construction | All Other | Corporate | Total | | :--------------- | :------- | :---------- | :----------- | :-------- | :-------- | :---------- | | Net earnings | $38,063 | $25,328 | $37,468 | $6,166 | $14,074 | $121,099 | | Adjusted EBITDA | $55,359 | $44,349 | $53,892 | $6,486 | $20,684 | $180,770 | | Adjusted EBITDA as a Percentage of Net Sales | 8.8% | 10.4% | 10.4% | 9.7% | 2200.4% | 11.0% | Adjusted EBITDA Reconciliation by Segment (Unaudited) - Q1 2023 | (In thousands) | Retail | Packaging | Construction | All Other | Corporate | Total | | :--------------- | :------- | :---------- | :----------- | :-------- | :-------- | :---------- | | Net earnings | $30,740 | $41,325 | $41,404 | $5,264 | $6,845 | $125,578 | | Adjusted EBITDA | $48,798 | $66,670 | $61,747 | $6,031 | $18,718 | $201,964 | | Adjusted EBITDA as a Percentage of Net Sales | 6.4% | 13.7% | 12.0% | 10.8% | 579.0% | 11.1% | [Condensed Consolidated Balance Sheets](index=10&type=section&id=6.4%20Condensed%20Consolidated%20Balance%20Sheets) This table presents the unaudited condensed consolidated balance sheets as of March 2024 and 2023, detailing assets (current, other, intangible, property/plant/equipment) and liabilities and equity (current liabilities, long-term debt, other liabilities, temporary equity, shareholders' equity) Condensed Consolidated Balance Sheets (Unaudited) | (In thousands) | 2024 | 2023 | | :------------------------------------ | :----------- | :----------- | | **ASSETS** | | | | TOTAL CURRENT ASSETS | $2,514,415 | $2,267,013 | | TOTAL ASSETS | $4,078,639 | $3,696,789 | | **LIABILITIES AND EQUITY** | | | | TOTAL CURRENT LIABILITIES | $525,018 | $530,359 | | LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS | 233,046 | 275,002 | | SHAREHOLDERS' EQUITY | 3,116,095 | 2,705,641 | | TOTAL LIABILITIES AND EQUITY | $4,078,639 | $3,696,789 | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=6.5%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section provides the unaudited condensed consolidated statements of cash flows for the three months ended March 2024 and 2023, outlining cash flows from operating, investing, and financing activities, and the net change in cash and cash equivalents Condensed Consolidated Statements of Cash Flows (Unaudited) | (In thousands) | 2024 | 2023 | | :------------------------------------ | :----------- | :----------- | | NET CASH USED IN OPERATING ACTIVITIES | $(16,798) | $(37,076) | | NET CASH USED IN INVESTING ACTIVITIES | $(56,062) | $(41,858) | | NET CASH USED IN FINANCING ACTIVITIES | $(68,968) | $(59,368) | | NET CHANGE IN CASH AND CASH EQUIVALENTS | $(141,749) | $(135,563) | | ALL CASH AND CASH EQUIVALENTS, END OF PERIOD | $980,507 | $424,060 |

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 ...