UFP Has Record First Quarter

UFP Industries, Inc. had net sales of $1.83 billion for the first quarter of 2021, a 77 per cent increase over the first quarter of 2020, and record net earnings of $103 million, a 157 per cent increase over the same period of 2020. While first quarter performance is typically limited by seasonality, net sales and earnings for the first quarter of 2021 were the highest of any quarter in company history. New product sales of $159.4 million increased 58 per cent over the first quarter of 2020, led by Deckorators Vault decking and deck accessories, UFP-Edge shiplap and trim, Handprint project panels, and ProWood Fire Retardant treated lumber. Net sales for the retail solutions segment were up 116 per cent over the first quarter of 2020; net sales for the construction segment were up 47 per cent; and net sales for the industrial segment were up 75 per cent.