top of page
(June web) AD-Grow-Faster-970x90-Q2

Aug 9, 2023

UFP Q2 sales see decline

UFP Industries, Inc. reported a 30% decrease in net sales for the second quarter, amounting to $2.04 billion. This decline was primarily attributed to a 22% drop in prices and an 8% decrease in organic unit sales.


Sales of new products saw a reduction of 9%, totaling $184 million. The decrease was largely influenced by the company's decision to lower lumber prices, which impacted customer costs. Despite this, new product sales as a percentage of total sales increased from 7% in 2022 to 9%.


The diluted EPS for the quarter were $2.36, marking a 27% decrease in comparison to the previous year. Adjusted EBITDA decreased by 27% to $234 million. However, the adjusted EBITDA margin saw a slight improvement, rising to 11.5% from 11% in 2022.


Within its divisions, UFP Retail Solutions witnessed a decline of 18% in net sales, amounting to $920 million, while UFP Packaging experienced a 28% decrease, with net sales totaling $488 million. These figures are in comparison to the second quarter of 2022.

Sign up for our Daily News Alerts to receive relevant industry news, articles, and previews for our next issue of Home Improvement Retailing. Delivered directly to your inbox. Subscribe here.

bottom of page