UFP Industries Inc. (UFPI) reported fourth quarter net earnings attributable to controlling interest of $68.04 million or $1.12 per share, down from $103.45 million or $1.62 per share in the previous year.
The results include the impact of impairment charges and severances of about $0.11 per share associated with ongoing actions to reduce capacity and personnel costs due to lower overall market demand, and a gain on the sale of real estate of approximately $0.03 per share.
Net sales were $1.46 billion, decrease of 4 percent from the prior year due to a 4 percent decrease in selling prices.
The company anticipates the softer demand and a competitive pricing environment will continue through the first half of 2025, with overall demand slightly down in each of our Retail, Packaging, and Constructions segments.
The company's long-term goals remain unchanged and include achieving 7-10 percent unit sales growth annually and at least 10 percent of all sales coming from new products; achieving 12.5 percent EBITDA margins; earning an incremental return on new investments over its hurdle rate; and maintaining its conservative capital structure.
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