UFPI reports 2Q EBITDA of $77 million

Posted July 19, 2018
Universal Forest Products, Inc. (UFPI) reported record financial results for the 2Q ended June 30, 2018, the twelfth consecutive quarter in which the company has reported records in both net sales and net earnings. 2Q 2018 EBITDA was $77 million, up 14% compared to 2Q 2017, as the company said in the press release received by Lesprom Network.

“Our focus remains on growing unit sales organically and through acquisitions, while enhancing our sales mix of new and value-added products,” stated CEO Matt Missad. “Our recently completed acquisition of North American Container Corp. will enhance our goal of being the packaging solutions provider and adds non-wood packaging alternatives to our product offering. Additionally, our increased resource allocation to new products and services is paying dividends, as new product sales year-to-date have increased to $262 million from $211 million in 2017. We’ll also continue to focus on margin improvement and improving productivity through automation, including the expanded use of specialized material processing equipment and robotics.”

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.



Topics: Finance

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