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UFP Industries Q1 Profit Rises

UFP Industries Inc. (UFPI) reported that its first-quarter net earnings attributable to controlling interest was $103 million, a 157 percent increase over the same period of 2020. Earnings per share were $1.67 compared to $0.65 in the first quarter last year.

Net sales for the quarter were $1.83 billion up 77 percent from last year, due to a 33 percent increase in unit sales and 44 percent increase in selling prices.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share and revenues of $1.55 billion for the quarter. Analysts' estimates typically exclude special items.

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