Jul. 26, 2022
Composite Decking Drives UFP Sales
UFP Industries, Inc. had net sales of $2.9 billion for the second quarter of 2022, a seven per cent increase over net sales of $2.7 billion in the second quarter of 2021. New product sales were $181 million, an increase of 37 per cent year-over-year, with Deckorators’ mineral-based composite decking and Strip Pak mixed-material packaging solutions leading the increase. Net earnings for the quarter were $208 million compared to $175 million in the prior-year period. UFP’s retail solutions segment sales were down 11 per cent year-over-year; industrial segment sales were up 11 per cent; and construction segment sales were up 32 per cent.