UFP INDUSTRIES Reports Earnings Results for FY2023 Q2 as of June 30 2023
August 21, 2023
🌥️Earnings Overview
On August 2 2023, UFP INDUSTRIES ($NASDAQ:UFPI) released its financial report for the second quarter ending June 30 2023. Revenue for the period was USD 2043.9 million, a decrease of 29.5% compared to the same quarter in FY2022. Net income for this quarter was USD 150.8 million, a 25.8% decrease compared to the same period last year.
Market Price
UFP INDUSTRIES reported their earnings results for fiscal year 2023 Q2 ending on June 30 2023. On Wednesday, UFP INDUSTRIES’s stock opened at $102.0 and closed at $102.4, a slight decrease of 0.9% from the previous closing price of 103.4. Despite the small decrease in the stock price, analysts remain positive on the company’s outlook for the quarter. Analysts have cited UFP INDUSTRIES’s strong operational performance as one of the reasons for their positive outlook. This impressive performance highlights the success of UFP INDUSTRIES’s strategy to focus on delivering high-quality, cost-effective products to their customers.
This indicates that UFP INDUSTRIES remains well-positioned to take advantage of any potential opportunities in the market. Overall, UFP INDUSTRIES has reported strong earnings results for fiscal year 2023 Q2 and analysts remain positive about the company’s outlook. UFP INDUSTRIES’s solid performance and strong balance sheet bode well for their future prospects and investors should be encouraged by these results. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ufp Industries. More…
| Total Revenues | Net Income | Net Margin |
| 8.1k | 564.22 | 7.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ufp Industries. More…
| Operations | Investing | Financing |
| 1.06k | -320.48 | -182.24 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ufp Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.84k | 1k | 45.93 |
Key Ratios Snapshot
Some of the financial key ratios for Ufp Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.2% | 40.3% | 9.4% |
| FCF Margin | ROE | ROA |
| 10.8% | 17.1% | 12.4% |
Analysis
At GoodWhale, we have conducted a thorough analysis of UFP INDUSTRIES‘ fundamentals. As our Star Chart shows, UFP INDUSTRIES has strong asset, dividend, growth, and profitability. In addition, we have classified the company as a ‘rhino’, a type of company which has achieved moderate revenue or earnings growth. From this analysis, we believe that investors with a moderate to long-term investment horizon may be interested in UFP INDUSTRIES due to its robust performance in the four categories of our Star Chart. Furthermore, UFP INDUSTRIES has a high health score of 10/10 which suggests that it is capable to sustain future operations even in times of crisis. All these factors make UFP INDUSTRIES an attractive investment opportunity. More…
Peers
UFP Industries Inc is one of the largest producers of wood products in North America. The company’s competitors include Blue Star Opportunities Corp, Interfor Corp, and West Fraser Timber Co. Ltd.
– Blue Star Opportunities Corp ($OTCPK:BSTO)
Interfor Corp is a Canadian forestry company with operations in British Columbia, Washington state, and Oregon. The company has a market cap of 1.23 billion Canadian dollars as of 2022. The company’s return on equity is 34.77%. Interfor Corp is engaged in the business of growing and harvesting trees, and manufacturing and selling lumber and wood products. The company’s products are used in the construction, industrial, and retail markets.
– Interfor Corp ($TSX:IFP)
As of 2022, West Fraser Timber Co. Ltd. had a market capitalization of $8.54 billion. The company had a return on equity of 26.74%. West Fraser Timber Co. Ltd. is a forest products company that produces lumber, wood chips, and other forest products. The company was founded in 1955 and is headquartered in Vancouver, Canada.
Summary
UFP Industries has released their Q2 earnings report for FY2023, revealing a decrease in total revenue and net income year-over-year. From an investing perspective, this could raise some concern as the company’s financials have seen a marked decline. Investors should monitor the company’s performance in the coming quarters to get an idea of whether this is just a short-term dip or if it could signal larger issues.
