Universal Forest Products, Inc. reported record financial results for the 1Q ended March 31, 2018, the eleventh consecutive quarter in which the company has reported records in both net sales and net earnings.

木制面板

UFPI 1Q net earnings up 56% to $32.8 million

Universal Forest Products, Inc. (UFPI) reported record financial results for the 1Q ended March 31, 2018, the eleventh consecutive quarter in which the company has reported records in both net sales and net earnings.

1Q 2017 net earnings were $32.8 million, up 56%. EBITDA, which excludes the net gain on the sale of assets, was $53.4 million, up 14%. 1Q 2017 gross sales increased 18%, with gains of 19% in the Retail and Industrial markets and 16% in the Construction market.

“The dedicated employees of Universal continued to produce record results despite some weather-related shutdowns. Their performance reflects the strength of our balanced business model and focused approach to growth,” said CEO Matt Missad. “Due to the elevated level of the lumber market, we are focused on unit sales growth, and are pleased that half of our sales growth came from increases in unit sales, including new products. We are excited about the diverse range of products that we have launched during the past several years and are seeing significant growth with a number of them. Individually, most new products don’t have a notable sales impact; however, as a whole, they have a positive impact.”

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.