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Oct 31, 2023

UFP sales slide

UFP Industries, Inc. had net sales of $1.8 billion for the third quarter of 2023, a decrease of 21 percent compared to net sales in the third quarter of 2022. New product sales as a percent of total sales rose to 9.7 percent from 7.8 percent in 2022. UFP’s retail solutions segment had net sales of $711 million, down 16 percent year over year; the packaging segment had net sales of $450 million, down 23 percent; and the construction segment had net sales of $584 million, down 25 percent. Overall adjusted EBITDA for the quarter was $208 million, down 24 percent year over year, while adjusted EBITDA margin declined 40 basis points to 11.4 percent.

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