Universal Forest Products, Inc. (UFPI) reported net earnings attributable to controlling interest of $33.4 million for the 2Q 2016, up 28.6% over net earnings attributable to controlling interest of $26 million for the same period of 2015. 2Q 2016 diluted earnings per share were $1.64, compared to diluted earnings per share of $1.28 for the 2Q 2015.
Net sales of $872.1 million in the 2Q 2016 represent an increase of 4% over net sales of $838.2 for the same period of 2015. The net earnings and net sales numbers are the best of any quarter in the Company’s history.
The Company’s results were driven by strong sales gains in the retail and construction markets, which grew 7.5% and 6.5%, respectively, over the same period of last year.
“The employees of the companies of Universal delivered another outstanding quarter,” said CEO Matthew J. Missad. “The results confirm that our growth and improvement strategies, coupled with our balanced business model, are working. When we break records, we simply are setting the bar for the next record. We look forward to the challenge of trying to stay ahead of 2015’s record performance in the second half of the year. Fortunately, we have talented and hard-working employees who can make that happen.”
Universal Forest Products, Inc. is an American company that manufactures and distributes wood and wood-alternative products, pressure-treated wood, engineered roof systems for site-built construction and manufactured housing, and a solid-sawn lumber buyer.
