Universal Forest Products, Inc. (UFPI) announced record net sales for the 4Q 2018, and record net sales and net earnings for fiscal 2018. FY 2018 net sales were $4.49 billion, up 14% compared to 2017. 2018 EBITDA for the 4Q and full year were also records, up more than 11% and 12%, respectively, over the previous year. In 2018, EBITDA amounted to $267 million, up 12%. Operating profit was $207.3 million, up 14.2%, as the company said in the press release received by Lesprom Network.
“I’m pleased that the people of Universal were able to manage through significant fluctuations in the lumber market in 2018 and still post these outstanding results,” stated CEO Matt Missad. “The results attest to the strength of the diverse markets we serve, which mitigates our lumber market risk. Our improved operating margins, while partly helped by declining lumber prices during the 4Q, reflect our improved product mix and operational efficiencies.”
The company purchased 804,185 shares during the 4Q at an average price of $28.30.
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries that supply wood, wood composite and other products to three robust markets: retail, construction and industrial.
