Universal Forest Products, Inc. (UFPI) reported record financial results for the 3Q ended September 30, 2017. The Company’s net sales rose 28% over the same quarter of 2016, led by double-digit gains in each of its markets. Net earnings rose 21% over 2016. Both results beat the records set in the 3Q 2016.
“These results underscore the strength of our balanced business model, which allows us to withstand adversity in one market or region and still grow sales and profitability,” said CEO Matt Missad. “Hurricanes Harvey, Irma and Maria created difficult conditions for some of our employees and operations in Texas, Florida and Puerto Rico and contributed to more lumber market volatility in September, impacting margins. Despite these challenges, our business performed exceptionally well, and I want to thank the hard working employees of the companies of Universal for their efforts. We feel confident in our ability to continue to execute our strategic initiatives and deliver strong results.”
Universal Forest Products, Inc. is a holding company whose subsidiaries supply wood, wood composite and other products to three robust markets: retail, construction and industrial.
