Financial Data and Key Metrics Changes - Record net sales for Q4 2021 were $2.02 billion, and $8.65 billion for the year, representing a 65% increase in net sales year-over-year [4][21] - Record PBOP for Q4 was $239.7 million, and $911.5 million for the year [4] - Record gross profit dollars were $371.5 million for Q4 and $1.41 billion for the year [4] - Record EPS was $2.21 for Q4 and $8.59 for the year, more than doubling year-over-year [4][21] - Operating cash flow was $512 million, $176 million ahead of last year, with a strong balance sheet showing only $50 million of net debt [21][26] Business Line Data and Key Metrics Changes - Retail Solutions segment sales were $3.42 billion for the year, although profits were down from 2020 due to lumber market impacts [5] - UFP-Edge saw double-digit growth in Q4, with strong demand for new products and additional manufacturing capacity planned [6] - Deckorators decking products experienced double-digit unit sales increases, while Lattice and PVC railings were down from record 2020 levels [6] - Industrial segment sales increased by 67%, with a 42% increase in selling prices and a 29% increase in unit sales [22] - Construction segment sales increased by 33%, driven by an 18% increase in selling prices and 13% organic unit growth [23] Market Data and Key Metrics Changes - The repair and remodel market remains strong, with big box customers optimistic about consumer demand [15] - Strong order files for the construction market are expected to continue through Q2 2022, particularly in multifamily housing [15] - Industrial durable goods manufacturing is also strong, with many appliance manufacturers reporting order files extending 16 to 26 weeks [15] Company Strategy and Development Direction - The company plans to innovate and drive improvements in 2022, with a focus on new product introductions and strategic acquisitions [14][20] - A sales target of $525 million for new products in 2022 has been established, using enhanced criteria for product qualification [14] - The company is prioritizing capital allocation towards growth, strategic acquisitions, and efficiency capital expenditures [20][27] Management's Comments on Operating Environment and Future Outlook - Management highlighted challenges such as labor shortages, transportation costs, and interest rate increases as potential risks [15][18] - The company remains optimistic about the demand for manufactured housing, especially in a higher interest rate environment [18] - Management expressed confidence in their balanced business model to navigate market volatility and maintain performance [34] Other Important Information - The company plans to return capital to shareholders through dividends and share repurchase programs, with a recent increase in the dividend to $0.20 per share [20][27] - The company is investing in automation and technology to enhance productivity and efficiency [20][28] Q&A Session Summary Question: What strategies helped navigate volatility in lumber prices? - Management credited the experienced operations team and a balanced business model as key factors in managing inventory and market changes [34] Question: What drove the divergence in Deckorators sales? - Management noted capacity constraints and strong customer demand for decking products, while accessories faced challenges due to stocking orders [36] Question: How are channel inventories currently? - Management indicated that channel inventories are balanced, with the first quarter's takeaway expected to shape the year [37] Question: What is the status of share repurchases? - Management clarified that the $2.6 million authorization is the total available amount for repurchases [38] Question: What challenges are anticipated in automation investments? - Management acknowledged potential delays in equipment orders impacting project timelines, with some projects likely spilling into 2023 [47] Question: How is the new organizational structure impacting results? - Management expressed satisfaction with the organizational changes, noting improved focus and performance across segments [86] Question: What are the biggest operational risks heading into 2022? - Management identified inflation, interest rates, and policy decisions as significant risks that are difficult to prepare for [88]

| --- | --- | --- | |-------|---------------------------|-------| | | | | | | | | | | | | | | 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 ...

Universal Forest Products, Inc. (NASDAQ:UFPI) Q4 2019 Earnings Conference Call February 20, 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 Steve Chercover - D. A. Davidson Julio Romero - Sidoti Reuben Garner - Benchmark Jay McCanless - Wedbush Operator Ladies and gentlemen, thank you for standing by and welcome to the Q4 2019 UFP I ...

Universal Forest Products, Inc. (NASDAQ:UFPI) Q2 2019 Earnings Conference Call July 25, 2019 8:30 AM ET Company Participants Brandon Froysland - Director of Finance Matthew Missad - CEO & Director Michael Cole - CFO & Treasurer Lynn Afendoulis - Director, Corporate Communications Conference Call Participants Ketan Mamtora - BMO Capital Markets Reuben Garner - Seaport Global Securities Steven Chercover - D.A. Davidson & Co. Daniel Jacome - Sidoti & Company Operator Good day, ladies and gentlemen, and welcome ...

Financial Data and Key Metrics Changes - Net sales reached a record $1.02 billion for the quarter, up 2% over 2018, with unit sales growing by 7% [6] - Earnings per share was $0.58 compared to $0.53 in 2018, with earnings up 28% when excluding a $7 million gain in 2018 [6] - EBITDA for the quarter was $65.9 million, up 25% over 2018 [6] - Gross profit dollars per unit grew by 18%, more than double the unit sales increase [7] - Overall sales increased by 2%, driven by a 7% increase in unit sales, partially offset by a 5% decrease in selling prices [28] Business Line Data and Key Metrics Changes - Retail market sales decreased by $13 million or 3%, with a 6% decline in selling prices offset by a 3% organic unit increase [29] - Industrial market sales increased by 15%, driven by a 16% increase in units, with acquisitions contributing 10% to unit growth [31] - Construction market sales decreased by 3%, with a 5% organic unit increase offset by an 8% decrease in selling prices [32] - Unit sales to manufactured housing customers decreased due to a decline in industry production of more than 11% [33] Market Data and Key Metrics Changes - The Southern Yellow Pine lumber market averaged 12.9% lower than 2018, with the Random Lengths Composite Index down 26.5% on average from 2018 [9] - The retail market finished the quarter strong, with March showing better volume than expected after a slow February [12] - In commercial construction, unit sales grew 15%, while the industrial market saw unit sales grow 16% [19] Company Strategy and Development Direction - The company aims to be the complete industrial packaging solution provider and is aggressively pursuing acquisition targets [20] - Capital allocation strategy prioritizes acquisitions, greenfield growth, and automation efficiency projects [21] - The company plans to expand production capacity significantly within the next 12 months [16] Management's Comments on Operating Environment and Future Outlook - Management noted that demand has not caught up with added capacity in the lumber market, impacting pricing [52] - There is optimism regarding order files and construction markets, with expectations of continued demand through Q3 [55] - Management acknowledged areas for improvement, particularly in SG&A growth and production labor challenges [24][25] Other Important Information - The company plans to spend approximately $95 million for capital expenditures this year, including significant projects to enhance productivity [41] - The trailing 12-month return on invested capital is 12.5%, exceeding the weighted average cost of capital [45] Q&A Session All Questions and Answers Question: Insights on lumber markets and pricing trends - Management indicated that demand has not caught up with supply, leading to pricing challenges, but expects alignment in Q2 [52][54] Question: End market demand outlook for Q2 - Management reported strong order files and positive trends in construction markets, expecting continued demand [55] Question: M&A pipeline expectations for 2019 - Management expressed confidence in a strong M&A pipeline, focusing on industrial targets and smaller acquisitions [56][57] Question: Growth expectations across different markets - Management anticipates modest growth in retail and construction, with strong performance expected in the industrial market [63][64] Question: Insights on new mill capacity and its impact on lumber prices - Management noted new mills coming online and their potential impact on market pricing, emphasizing the need for demand to meet supply [80][82] Question: Dividend policy and potential for quarterly payments - Management is open to considering a quarterly dividend if it becomes significant enough for shareholders [84]