UFP Industries (UFPI) Lags Q1 Earnings and Revenue Estimates

Company Performance - UFP Industries reported quarterly earnings of $1.30 per share, missing the Zacks Consensus Estimate of $1.59 per share, and down from $1.96 per share a year ago [1] - The earnings surprise was -18.24%, and the company has surpassed consensus EPS estimates only once in the last four quarters [2] - Revenues for the quarter were $1.6 billion, missing the Zacks Consensus Estimate by 2.19%, and down from $1.64 billion year-over-year [3] Market Context - UFP Industries shares have declined about 5.3% since the beginning of the year, compared to a decline of -6.1% for the S&P 500 [4] - The current consensus EPS estimate for the upcoming quarter is $2.17 on revenues of $1.9 billion, and for the current fiscal year, it is $7.05 on revenues of $6.77 billion [8] Industry Outlook - The Building Products - Wood industry is currently in the bottom 37% of over 250 Zacks industries, indicating a challenging environment [9] - Boise Cascade, a competitor in the same industry, is expected to report quarterly earnings of $1.36 per share, reflecting a year-over-year decline of -47.9% [10]