UFP INDUSTRIES Reports FY2023 Q2 Earnings Results for June 30 2023
August 13, 2023
🌥️Earnings Overview
On August 9, 2023, UFP INDUSTRIES ($NASDAQ:UFPI) released their earnings results for the second quarter of FY2023, which ended on June 30, 2023. Revenue for the quarter totaled USD 2043.9 million, remaining the same as the same quarter in the previous year. Net income for the same period was also unchanged at USD 150.8 million compared to the previous year.
Market Price
UFP INDUSTRIES reported its fiscal year 2023 second quarter financial performance for June 30th 2023. On Wednesday, the company’s stock opened at $102.0 and closed at $101.4, down 0.6% from the prior closing price of $102.0. Overall, UFP INDUSTRIES reported solid financial performance for FY2023 Q2 with growth in both revenue and earnings.
The company’s strong cash flow performance was particularly impressive as it showed a steady increase over the prior year period. Investors remain optimistic about the company’s long-term prospects as it continues to deliver solid financial results. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ufp Industries. More…
| Total Revenues | Net Income | Net Margin |
| 8.1k | 564.22 | 7.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ufp Industries. More…
| Operations | Investing | Financing |
| 1.06k | -320.48 | -182.24 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ufp Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.84k | 1k | 45.93 |
Key Ratios Snapshot
Some of the financial key ratios for Ufp Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.2% | 40.3% | 9.4% |
| FCF Margin | ROE | ROA |
| 10.8% | 17.1% | 12.4% |
Analysis
At GoodWhale, we recently conducted an analysis of the wellbeing of UFP INDUSTRIES. Our Risk Rating report concluded that UFP INDUSTRIES is a low risk investment in terms of financial and business aspects. Our analysis also detected one risk warning in balance sheet that prospective investors should be aware of. To access this information in full, please register on goodwhale.com. With the help of our platform, you can easily analyze companies, and make informed decisions about your investments. More…
Peers
UFP Industries Inc is one of the largest producers of wood products in North America. The company’s competitors include Blue Star Opportunities Corp, Interfor Corp, and West Fraser Timber Co. Ltd.
– Blue Star Opportunities Corp ($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 analyzing UFP INDUSTRIES can take comfort in the company’s steady performance in the second quarter of FY2023. Total revenue for the period ending June 30, 2023 remained unchanged at USD 2043.9 million compared to the previous year’s quarter. Similarly, net income also remained static at USD 150.8 million.
Despite the lack of growth during a period of economic unrest, shareholders can take comfort in the consistent performance of the company. Moving forward, investors should watch for signs of growth as UFP INDUSTRIES plans for a more prosperous fiscal year.
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