UFP Industries Q1 sales fall 10% to $1.64 billion; profit down 4%
UFP Industries reported first-quarter 2024 net sales of $1.64 billion, down 10% from a year earlier, driven by a 9% decline in selling prices. Net earnings attributable to controlling interests were $121 million, down 4%, and diluted earnings per share were $1.96 compared with $1.98, while the company also modified its earlier outlook to expect packaging and retail demand to fall in the mid-single digits in 2024. Lower sales, profit and demand expectations weigh on results, partly offset by a 32% increase in the quarterly dividend to $0.33 per share.
Key points
- Net sales of $1.64 billion, down 10%, with selling prices down 9% and organic unit sales down 1%
- Net earnings attributable to controlling interests of $121 million, down 4%; diluted EPS of $1.96 versus $1.98
- Adjusted EBITDA of $181 million, down 10%; adjusted EBITDA margin of 11%
- Quarterly dividend raised to $0.33 per share from $0.25, payable June 17, 2024
The filing
Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 30, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.