“I am very pleased with our 3Q results and especially with our people, who drove strong performance in the quarter and made us a better company than we were a year ago,” said CEO Matthew J. Missad. “We saw robust growth in each of our markets, and we enhanced margins in a number of areas.
“In addition, our teams were successful in improving operations that were under-performing or unprofitable in 2012,” Missad said. “They’re working diligently to grow sales and profitability, and we’re seeing the results of their hard work. We still have many areas for improvement, but this truly is an exciting time to be part of the UFPI family of companies.”
Missad said the Company remains focused on its goals of growing sales by adding new products, new customers and new markets.
Lumber prices, which have an impact on the Company’s selling prices, were up in the 3Q. Overall lumber prices were up 6.9%; Southern Yellow Pine prices, which make up a significant portion of the Company’s lumber purchases, were up 16.7%.
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries that design, manufacture and market wood and wood-alternative products for building materials retailers and wholesalers, structural lumber and other products for the manufactured housing and residential construction markets, and specialty wood packaging and components and packing materials for various industries.
