UFP INDUSTRIES Reports FY2023 Q1 Earnings Results for Period Ending March 31, 2023.

Earnings Overview

UFP INDUSTRIES ($NASDAQ:UFPI) reported their financial results for the first quarter of FY2023, which concluded March 31 2023, on May 10 2023. The total revenue for the period amounted to USD 1822.5 million, with no change year over year. Net income was recorded as USD 126.1 million, the same as compared to the same quarter of the prior year.

Stock Price

UFP INDUSTRIES recently released their earnings results for the first quarter of the fiscal year 2023, covering the period ending on March 31, 2023. On Wednesday, UFP INDUSTRIES stock opened at $83.9 and closed at $83.5, up by 0.9% from last closing price of 82.7. The company reported an increase in revenue due to an increase in pricing and volume of products sold.

In addition, cost of goods sold decreased during the quarter resulting in a higher profit margin. Overall, the company showed a strong performance with positive growth in all areas of the business. This positive report was welcomed by stockholders and analysts alike as they remain optimistic about the future of UFP Industries. With the company’s strategic growth plans and focus on innovation, it is expected that the company will continue to deliver positive results in the coming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Ufp Industries. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Ufp Industries. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Ufp Industries. More…

Key Ratios Snapshot

Some of the financial key ratios for Ufp Industries are shown below. More…

Analysis

At GoodWhale, we recently conducted an analysis of UFP INDUSTRIES‘s wellbeing. The results revealed that the company is a low risk investment in terms of financial and business aspects. Our Risk Rating system indicated that UFP INDUSTRIES is in good health, and is unlikely to experience any major financial risks. However, upon further inspection of UFP INDUSTRIES’s balance sheet, we detected one risk warning. This could be due to a number of factors, such as inadequate capitalization, large debt levels, or excessively risky investments. We encourage our registered users to check out the balance sheet and consider the potential risks associated with investing in UFP INDUSTRIES. 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

Investors in UFP Industries should be wary, as the company’s first quarter financial results show no growth since the same quarter a year ago. Total revenue for Q1 of FY2023 was USD 1822.5 million and net income remained static at USD 126.1 million. This could be indicative of a stagnant market or future earnings growth potential. Investors should look to the company’s future financial results to gauge if there is potential for returns or whether the company is facing headwinds that may be difficult to overcome.