UFP Has Strong Quarter

UFP Industries, Inc. had net sales of $2.1 billion for the third quarter of 2021, a 41 per cent increase over net sales of $1.5 million in the third quarter of 2020. The results were partially driven by the company’s diversity of markets and adjustable pricing model. Sales for the UFP retail solutions segment was down one per cent year-over-year; sales for the UFP industrial segment were up 103 per cent; and sales for the UFP construction segment were up 62 per cent. Earnings from operations were $168 million for the quarter, an increase of 58 per cent over the year-ago period. Adjusted earnings before taxes were $187.5 million, up 49 per cent year-over-year, and adjusted earnings margin expanded by 50 basis points to nine percent.