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GRAND RAPIDS, Mich. - UFP Industries, Inc. (NASDAQ:UFPI) reported first quarter 2025 earnings that beat analyst expectations, while revenue came in slightly below estimates.
The wood products manufacturer posted earnings per share of $1.30, compared to analyst estimates of $1.57. Revenue for the quarter was $1.60 billion, just shy of the $1.61 billion consensus estimate.
Net sales decreased 2.7% year-over-year, driven by a 0.7% decline in selling prices and a 2% drop in organic unit sales. Net earnings attributable to controlling interests fell 35% to $78.8 million.
"While our first quarter proved more challenging than anticipated and visibility remains limited, we are more encouraged by recent business trends," said CEO Will Schwartz. He noted that business activity improved sequentially each month during the quarter and into April.
The company said it remains on track to realize $60 million in structural cost savings by the end of 2026. It is also accelerating investments into higher-growth and higher-margin opportunities.
UFP Industries maintained a strong balance sheet with $903.6 million in cash at quarter-end. The company repurchased approximately 649,060 shares for $70.1 million during Q1.
The board approved a 6% increase in the quarterly dividend to $0.35 per share. UFP Industries stock was unchanged in after-hours trading following the earnings release.
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