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Mar 1, 2023

UFP Has Fourth Quarter Loss

UFP Industries, Inc. had net sales of $1.91 billion in the fourth quarter of 2022, a loss of five per cent compared to $2.02 billion in the year-ago period. The decline is due to a 16 per cent decrease in organic unit sales. Net earnings were $131.9 million, a loss of 10.3 per cent versus earnings of $147 million in the prior-year period. The construction segment had an operating profit of $75.4 million, down 5.6 per cent compared to $79.9 million. The packaging segment had $81.3 million in earnings, an increase of nine per cent compared to $74.6 million in the fourth quarter of 2021.

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