UFP Industries, Inc. (NASDAQ:UFPI) Q3 2021 Earnings Conference Call October 20, 2021 4:30 PM ET Â Company Participants Dick Gauthier - Vice President, Corporate Communications and IR Matt Missad - Chief Executive Officer Mike Cole - Chief Financial Officer Conference Call Participants Ketan Mamtora - BMO Capital Markets Stanley Elliott - Stifel Reuben Garner - The Benchmark Company Julio Romero - Sidoti & Co. Jay McCanless - Wedbush Securities Operator Ladies and gentlemen, thank you for standing by. And we ...

UFP Industries, Inc. (NASDAQ:UFPI) Q2 2021 Earnings Conference Call July 21, 2021 4:30 PM ET Company Participants Dick Gauthier - Vice President of Business Outreach Matt Missad - Chief Executive Officer Mike Cole - Chief Financial Officer Conference Call Participants Stanley Elliott - Stifel Kurt Yinger - D.A. Davidson Jay McCanless - Wedbush Securities Ketan Mamtora - BMO Capital Markets Operator Ladies and gentlemen, thank you for standing by, and welcome to the UFP Industries Second Quarter 2021 Earning ...

UFP Industries, Inc. (NASDAQ:UFPI) Q1 2021 Earnings Conference Call April 21, 2021 4:30 PM ET Company Participants Dick Gauthier - Vice President of Business Outreach Matt Missad - Chief Executive Officer Mike Cole - Chief Financial Officer Conference Call Participants Ketan Mamtora - BMO Capital Markets Reuben Garner - The Benchmark Company Jay McCanless - Wedbush Kurt Yinger - DA Davidson Julio Romero - Sidoti & Co Stanley Elliott - Stifel Operator Ladies and gentlemen, thank you for standing by and welco ...

Financial Performance - The company reported annual purchases of lumber totaling approximately $2.0 billion, with southern yellow pine accounting for 62% of total purchases[30]. - One major customer, The Home Depot, accounted for approximately 24% of total net sales in fiscal 2020[20]. Backlog Orders - As of December 26, 2020, the estimated backlog orders for customized interior fixture businesses were approximately $65.2 million, down from $75.0 million in the previous year[33]. - The estimated backlog orders associated with construction businesses were approximately $106.0 million as of December 26, 2020, compared to $110.1 million in the prior year[34]. - The company expects to fill the majority of its backlog orders within the next fiscal year, although some orders may be canceled[33][34]. Employee Information - The company had approximately 12,000 employees as of December 26, 2020, emphasizing the importance of employee skill and motivation in its success[35]. Organizational Structure - The company operates with a market-centered reporting structure, reorganizing its segments into Retail, Industrial, and Construction to enhance efficiency and product introduction[18]. Debt and Interest Rates - The estimated fair value of the company's long-term debt was $341.4 million as of December 26, 2020[79]. - The average interest rate for fixed-rate debt was reported at 3.89% for 2022, while the average for variable-rate debt was 0.79%[80]. Intellectual Property - The company has several patents and trademarks related to its business, indicating a focus on intellectual property development[31].

Call Start: 16:30 January 1, 0000 5:25 PM ET UFP Industries, Inc. (NASDAQ:UFPI) Q4 2020 Earnings Conference Call February 23, 2021 16:30 ET Company Participants Dick Gauthier - Vice President of Business Outreach Matt Missad - Chief Executive Officer Mike Cole - Chief Financial Officer Conference Call Participants Ketan Mamtora - BMO Capital Markets Reuben Garner - The Benchmark Company Jay McCanless - Wedbush Kurt Yinger - DA Davidson Julio Romero - Sidoti & Co Reuben Garner - Benchmark Operator Ladies and ...

Financial Data and Key Metrics Changes - Net sales reached $1.49 billion, representing a 28% increase compared to the previous year, driven by an 8% increase in unit sales and a 20% increase in selling prices due to lumber market impacts [6][13][14] - Gross profit increased by 29%, with net earnings up 49% [7][13] - Operating profits rose by 51%, and operating margins improved by 110 basis points to 7.2% [13] - Operating cash flow was $185 million, with total liquidity at $707 million at the end of September [13][18] Business Line Data and Key Metrics Changes - Retail segment sales increased by 76%, with a 34% organic unit increase and a 42% increase in prices, driven by strong consumer demand for home improvement [13][14] - Industrial segment sales grew by 4%, with a 6% increase in selling prices, but faced a 5% decline in organic unit sales [14] - Construction segment sales were flat, with a 9% increase in selling prices offset by a 9% decline in units sold [14][15] Market Data and Key Metrics Changes - E-commerce sales surged by 107% in the quarter, totaling $139 million year-to-date [7] - The lumber market saw record highs during the quarter but began to trend downwards towards the end [8][12] - Demand for site-built and factory-built housing remained strong, while commercial construction faced challenges [8][12] Company Strategy and Development Direction - The company aims to grow sales and profitability through automation and capital projects, with a focus on new product development [9][10] - Plans to scale recent acquisitions nationally and pursue additional acquisition targets to achieve growth [11] - The company is optimistic about the future, with a focus on expanding its product offerings and improving customer relationships [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed pride in the team's performance despite challenges such as the pandemic and supply chain disruptions [5][6] - There is optimism regarding continued strong demand in the retail segment, with expectations for seasonality to be weather-driven [22][23] - Concerns about economic and social uncertainty were noted, but management remains focused on achieving growth targets [9][11] Other Important Information - The company is currently seeking over 300 employees to support production facilities [9] - A disciplined approach to capital allocation is maintained, with plans for $100 million in capital expenditures in 2021 [11][18] Q&A Session Summary Question: Retail demand outlook as the season changes - Management noted that demand remains strong, with customers optimistic about 2021 despite expected seasonal slowdowns [22][23] Question: Impact of falling lumber prices - Management explained that while falling lumber prices may create headwinds for variable price products, fixed price items in construction and industrial segments could benefit [25] Question: Competitive positioning in the retail market - Management indicated that they were able to gain market share due to supply shortages faced by smaller competitors [32][33] Question: Growth opportunities in industrial vs outdoor living products - Management acknowledged strong growth runways in both industrial and retail segments, emphasizing a balanced approach to growth [26] Question: Year-to-date growth for decorator's products - Management confirmed that decorator's products have seen an 11% year-to-date growth [46] Question: Cost control measures and their sustainability - Management highlighted temporary reductions in costs due to lower travel and healthcare expenses, with expectations to maintain some savings moving forward [61][62] Question: M&A pipeline and consolidation in the industry - Management expressed a strong pipeline of acquisition targets and a focus on industry consolidation to enhance growth [65]

UFP Industries, Inc. (NASDAQ:UFPI) Q2 2020 Earnings Conference Call July 23, 2020 8:30 AM ET Company Participants Dick Gauthier - VP, Business Outreach Matt Missad - CEO Mike Cole - CFO Conference Call Participants Ketan Mamtora - BMO Capital Markets Steve Chercover - D.A. Davidson Reuben Garner - The Benchmark Company Julio Romero - Sidoti & Co. Operator Ladies and gentlemen, thank you for standing by and welcome to the Q2 2020 UFP Industries Earnings Conference Call. [Operator Instructions] I would now li ...

Universal Forest Products, Inc. (NASDAQ:UFPI) Q1 2020 Earnings Conference Call May 7, 2020 8:30 AM ET Company Participants Dick Gauthier - Vice President, Business Outreach Matt Missad - Chief Executive Officer Mike Cole - Chief Financial Officer Conference Call Participants Ketan Mamtora - BMO Capital Markets Paul Betz - Stifel Reuben Garner - Benchmark Jay McCanless - Wedbush Dick Gauthier [Call starts abruptly] Â…the First Quarter 2020 Conference Call for UFP Industries. Hosting the call today are CEO, M ...

| --- | --- | --- | |-------|---------------------------|-------| | | | | | | | | | | | | | | UFP INDUSTRIES March 2020 | | | 1 | | | UNIVERSAL FOREST PRODUCTS, INC. (d/b/a UFP Industries) Please be aware that: Statements included in this presentation that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, and are based on management's beliefs, assumptions, current expectations, estimates, and projections about the markets we serve ...

PART I [Item 1. Business](index=4&type=section&id=Item%201.%20Business.) UFP Industries, a global holding company, supplies wood and wood-alternative products to retail, industrial, and construction markets, with a 2020 reorganization aligning with these segments [General Development of the Business](index=4&type=section&id=General%20Development%20of%20the%20Business.) Universal Forest Products, Inc. is now known as UFP Industries, a global holding company supplying wood and wood-alternative products - Universal Forest Products, Inc. is now known as **UFP Industries**[15](index=15&type=chunk) - The company is a holding company with subsidiaries across North America, Europe, Asia, and Australia, supplying wood, wood composite, and other products to retail, industrial, and construction markets[15](index=15&type=chunk) - Effective January 1, 2020, management reorganized operations around the markets it serves (retail, industrial, construction) instead of geography[18](index=18&type=chunk)[55](index=55&type=chunk) [Financial Information About Segments](index=4&type=section&id=Financial%20Information%20About%20Segments.) The company's operating segments were reorganized on January 1, 2020, from geographical divisions to market-focused segments: retail, construction, and industrial - Prior operating segments included Northern, Southern, and Western divisions as stand-alone reportable segments[18](index=18&type=chunk) - Alternative Materials, International, idX, and Corporate business units were aggregated into the 'All Other' reportable segment[18](index=18&type=chunk) - Beginning January 1, 2020, the company's operations are managed through three business segments: retail, construction, and industrial[18](index=18&type=chunk)[55](index=55&type=chunk) [Narrative Description of Business](index=4&type=section&id=Narrative%20Description%20of%20Business.) This section details the company's business operations across its retail, industrial, and construction markets, including supplier relationships, intellectual property, backlog, environmental considerations, seasonality, and employee information [Retail Market](index=4&type=section&id=Retail.) The retail market segment, with Home Depot as a key customer, offers dimensional lumber and outdoor living products, leveraging broad product lines and service capabilities - The Home Depot accounted for approximately **19% of total sales** in fiscal 2019, 2018, and 2017[20](index=20&type=chunk)[43](index=43&type=chunk) - Products include dimensional lumber (preserved and unpreserved), outdoor living products (decking, accessories, lawn/garden), and engineered wood components, sold under trademarks like ProWood and Deckorators[22](index=22&type=chunk)[23](index=23&type=chunk) - Competitive advantages stem from product breadth, geographic dispersion, proximity to customers, purchasing/manufacturing expertise, and service capabilities[24](index=24&type=chunk) [Industrial Market](index=5&type=section&id=Industrial%20Market.) The industrial market serves manufacturers and agricultural customers with pallets, crates, and packaging, often utilizing by-products and facing fragmented competition - Serves manufacturers and agricultural customers with pallets, specialty crates, wooden boxes, and other packaging/material handling products[25](index=25&type=chunk) - Many products are produced from by-products of other manufactured goods, increasing raw material yields[25](index=25&type=chunk) - Competition in this market is fragmented[25](index=25&type=chunk) [Construction Market](index=5&type=section&id=Construction%20Market.) The construction market encompasses manufactured housing, residential, and commercial submarkets, providing engineered wood components and customized interior fixtures - Comprises manufactured housing, residential construction, and commercial construction submarkets[26](index=26&type=chunk) - Products include roof trusses, custom-cut lumber, plywood, OSB, dimensional lumber for manufactured housing, and engineered wood components (trusses, wall panels, I-joists) for residential/light commercial projects[27](index=27&type=chunk)[28](index=28&type=chunk) - The commercial market includes idX Holdings, Inc., which designs, manufactures, and installs customized interior fixtures[29](index=29&type=chunk) - Competitive advantages include product knowledge, engineering support, proximity to customers, purchasing/manufacturing expertise, and providing comprehensive turn-key packages[27](index=27&type=chunk)[28](index=28&type=chunk) [Suppliers](index=5&type=section&id=Suppliers.) The company is a major buyer of softwood lumber and other wood-based products, with significant annual purchases and competitive advantages in raw material procurement - One of the largest domestic buyers of solid sawn softwood lumber, with annual purchases of approximately **$1.4 billion**[30](index=30&type=chunk)[31](index=31&type=chunk) | Species | Percent of Total Lumber Purchases | | :--- | :--- | | Southern Yellow Pine | 64% | | Spruce-Pine-Fir | 19% | | Douglas Fir | 3% | | Various other species and imports | 14% | - Additionally, approximately **$0.5 billion** is spent annually on plywood, oriented strand board (OSB), and other wood-based products[31](index=31&type=chunk) - Financial resources, size, strong sales network, and remanufacturing ability provide a competitive advantage in purchasing raw materials[32](index=32&type=chunk) [Intellectual Property](index=6&type=section&id=Intellectual%20Property.) The company holds various patents and trademarks, none of which are considered materially adverse if lost - Owns several patents and has pending patents related to its business technologies[33](index=33&type=chunk) - Owns numerous registered trademarks and claims common law trademark rights to others[33](index=33&type=chunk) - The loss of a patent or any trademark is not expected to have a material adverse impact on the company's competitive position[33](index=33&type=chunk) [Backlog](index=6&type=section&id=Backlog.) Backlog information is primarily relevant for customized interior fixtures and construction businesses, with most orders expected to be filled within the next fiscal year - Backlog information is not meaningful for retail and industrial businesses due to short order-to-shipment times[34](index=34&type=chunk) Estimated Backlog Orders (Millions USD) | Business Type | December 28, 2019 | December 29, 2018 | | :--- | :--- | :--- | | Customized Interior Fixtures | $75.0 | $75.4 | | Construction Businesses | $110.1 | $95.1 | - Most backlog orders are expected to be filled within the next fiscal year[35](index=35&type=chunk)[36](index=36&type=chunk) [Environmental](index=6&type=section&id=Environmental.) Environmental disclosures are incorporated by reference from Note L of the Consolidated Financial Statements - Environmental disclosures are incorporated by reference from Note L of the Consolidated Financial Statements[37](index=37&type=chunk) [Seasonality](index=6&type=section&id=Seasonality.) Seasonality disclosures are incorporated by reference from Item 1A. Risk Factors, specifically regarding how seasonality and weather conditions could adversely affect the company - Seasonality disclosures are incorporated by reference from Item 1A. Risk Factors, specifically regarding how seasonality and weather conditions could adversely affect the company[37](index=37&type=chunk) [Employees](index=6&type=section&id=Employees.) As of December 28, 2019, the company had approximately 12,000 employees - As of December 28, 2019, the company had approximately **12,000 employees**[37](index=37&type=chunk) [Available Information](index=6&type=section&id=Available%20Information.) The company provides its annual, quarterly, and current reports, along with amendments and its Code of Ethics, free of charge on its investor relations website - The company makes its annual (10-K), quarterly (10-Q), and current (8-K) reports, along with amendments and its Code of Ethics for Senior Financial Officers, available free of charge on its investor relations website (www.ufpi.com)[38](index=38&type=chunk) [Reports to Security Holders](index=6&type=section&id=Reports%20to%20Security%20Holders.) This section is not applicable - Not applicable[39](index=39&type=chunk) [Enforceability of Civil Liabilities Against Foreign Persons](index=7&type=section&id=Enforceability%20of%20Civil%20Liabilities%20Against%20Foreign%20Persons.) This section is not applicable - Not applicable[40](index=40&type=chunk) [Item 1A. Risk Factors](index=7&type=section&id=Item%201A.%20Risk%20Factors.) The company faces various risks including currency fluctuations, commodity price volatility, market cyclicality, customer concentration, and operational challenges from restructuring and external factors Impact of U.S. Dollar Exchange Rates (2019) | Metric | Value (Millions USD) | | :--- | :--- | | Import Purchases | $472.4 | | Export Sales | $111.3 | Lumber Costs as Percentage of Gross Sales | Year | Percentage of Gross Sales | | :--- | :--- | | 2019 | 42.7% | | 2018 | 50.6% | | 2017 | 49.1% | - Sales to The Home Depot comprised **19% of total sales** in 2019, 2018, and 2017[43](index=43&type=chunk) Healthcare Costs (Millions USD) | Year | Costs | | :--- | :--- | | 2019 | $69.1 | | 2018 | $69.2 | | 2017 | $58.9 | Transportation Costs as Percentage of Sales | Year | Percentage of Sales | | :--- | :--- | | 2019 | 9.5% | | 2018 | 9.3% | | 2017 | 9.0% | - U.S. import of Canadian Softwood Lumber was approximately **$249.5 million** in 2019, representing the primary imported commodity impacted by tariffs[54](index=54&type=chunk) - The