Universal Forest Products, Inc. (UFPI) announced recording-breaking 3Q 2016 results, including net earnings attributable to controlling interests of $27.8 million, an increase of 8.9% over the same period of 2015.
Year-to-date net earnings attributable to controlling interests were $80.4 million, up 30% over 2015. Earnings per diluted share were $1.36 in the 3Q 2016, up from $1.26 in the 3Q 2015.
Net sales of $826.7 million – also a record for the 3Q – were up 8.4% over the same period of 2015.
“The employees of Universal are working hard to top the records they achieved during the last half of 2015, and we are pleased once again to report record results and growth,” said CEO Matthew J. Missad. “We grew sales significantly in two key markets and continue to increase our sales of new products.”
Year-to-date new product sales were $247.9 million, a 16% increase over the $213.3 million reported for the same period of last year.
“We are continuing to make investments in our business and people to promote and enhance our continued success,” Missad noted. “We have added staff and are investing in their training to support our growth. We also are investing in several significant initiatives, including new international and e-commerce groups, and a research and design center, all of which we believe will contribute to our success in 2017 and beyond.”
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries in three robust markets: retail, construction and industrial.