UFP Industries Inc (UFPI) News & EventsUFPIUFP Industries Inc

UFP Industries Reports Q2 Revenue of $1.88B

Reports Q2 revenue $1.88B, consensus $1.8B. Will Schwartz, President and CEO of UFP Industries, commented, "As we've discussed in prior quarters, we are seeing stabilization across the majority of our portfolio, and we believe our second quarter results reflect the progress we have made to strengthen our business and structurally improve our operations. The business environment remains challenging with geopolitical tensions, a weak housing market, rising input costs, and most recently, elevated transportation costs. We are actively managing these short-term disruptions while investing in initiatives that will improve our margin profile and drive above-market growth over the long term. We remain focused on the factors under our control and we are on track to deliver the remaining $25 million or more from our initial $60 million cost out program by year end. We also continue to strengthen our core businesses through organic investments and strategic M&A, positioning the company for long-term growth and returns as markets recover."

Company Maintains 2026 Outlook, Expects Weak Demand

"Our full year 2026 outlook remains unchanged. We continue to expect overall demand for the balance of the year to be toward the lower end of our prior guidance of flat to slightly down unit expectations in each of our segments based on our sales mix. Input costs, primarily energy and transportation, are expected to remain elevated, and while we have mechanisms to offset these costs, we expect recovery to be gradual through the remainder of the year. Demand tied to new residential construction is expected to remain challenging, while stabilization across most other end markets should partially offset that pressure. Despite these conditions, we believe we are positioned to perform better than our markets through share gains across our portfolio and continued execution of our cost-out program. In addition, initial stocking orders, upgraded manufacturing capacity, and expanded distribution are expected to support continued momentum in our Deckorators' Surestone business. The company's long-term goals remain unchanged and include: 1) achieving 7-10 percent unit sales growth annually (including bolt-on acquisitions) with at least 10 percent of all sales coming from new products; 2) achieving 12.5 percent adjusted EBITDA margins; 3) earning an incremental return on new investments over our hurdle rate; and 4) maintaining a conservative capital structure."

UFP Industries Acquires John Rock for Approximately $48M

UFP Industries announced the acquisition of the operating assets of John Rock a new pallet manufacturer headquartered in Coatesville, Pa., for approximately $48M. The transaction fills a key gap in PalletOne's geographic reach and strengthens UFP Packaging's ability to serve national customers with a presence in the northeast region. John Rock, a subsidiary of Kamps Pallets, designs and manufactures new pallets across Pennsylvania and Virginia. UFP Industries is purchasing three of the four operating locations: Coatesville, Pa., Mifflintown, Pa. and Bowling Green, Va. The remaining sawmill at Dilwyn, Va. will remain with the seller. The acquisition of the three locations adds approximately $82M in annual sales and brings nearly 250 employees into the UFP family. The company said, "This acquisition strengthens a core business for UFP Industries and expands PalletOne's scale in a strategically important geography. The transaction includes all key operating assets of John Rock, allowing for immediate manufacturing and service continuity while providing a strong platform for operational improvement and long-term growth. The acquired operations will be integrated into PalletOne's existing manufacturing network, creating opportunities to improve efficiency, enhance service levels, leverage UFP's procurement and operational capabilities, and growth with national customers - while maintaining the local expertise and customer focus that has defined John Rock's success."