UFP Industries reports Q4 EPS $1.12 vs $1.62 last year

Reports Q4 revenue $1.462B, consensus $1.62B. “The second half of 2024 proved more challenging than expected, as we continued to face softer demand and a more competitive pricing environment in the fourth quarter,” said Matthew Missad, executive chairman. “Despite these market headwinds, 2024 marked the 70th consecutive profitable year for the company, which highlights the resiliency of our businesses and our people. It has been an incredible pleasure to work with and help lead such a great team, and I am grateful for their hard work and determination, with the goal of always being the best. In times like these, they are addressing challenges head-on and making the tough decisions that will enable us to grow further and faster when our markets find a more stable footing. Although we expect the challenging economy to persist in 2025, our balanced business model, variable incentive compensation program, growth and improvement strategies, and strong balance sheet will help drive our success. I am very confident that Will Schwartz, Mike Cole and our great team of leaders will drive even greater success in the future while maintaining the team culture of employee growth and opportunity in pursuit of elite performance.”