UFP Has Strong Second Quarter

UFP Industries, Inc. had net sales of $2.7 billion for the second quarter of 2021, a 117 per cent increase over the second quarter of 2020. New product sales were $232.1 million, up 61 per cent. Increases are due to increased selling prices, acquisitions, and increased organic unit sales. Earnings from operations were $236.9 million, 157 per cent year-over-year and adjusted earnings before taxes increased 137 per cent to $261.5 million. Adjusted earnings margin expanded by 80 basis points to 9.7 per cent. The UFP retail solutions segment sales were up 107 per cent year-over-year; UFP industrial sales were up 172 per cent; and UFP construction sales were up 106 per cent.