Every material Form 8-K UFP Industries filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
UFP Industries reported third quarter 2024 net sales of $1.65 billion, down 10% from a year earlier, and net earnings attributable to controlling interest of $100 million, down 26%. The company cited softer demand and broad-based pricing pressure, and lowered its fourth-quarter Construction demand outlook to a low-single-digit decrease, which may weigh on shareholders' near-term earnings.
Net sales of $1.65 billion fell 10%, with selling prices down 7% and organic unit sales down 3%.
Diluted earnings per share were $1.64, compared with $2.10 in the third quarter of 2023.
Adjusted EBITDA of $165 million fell 21%, and adjusted EBITDA margin declined 140 basis points to 10.0%.
The board approved a quarterly dividend of $0.33 per share on October 23, 2024, up 10% from $0.30, payable December 16, 2024.
UFP Industries said its board appointed William D. Schwartz as chief executive officer effective December 29, 2024, and named current CEO Matthew J. Missad as executive chairman on the same date. The changes are a planned succession, and Missad has agreed to serve as executive chairman through 2026. The filing discloses pay changes for both men but no changes to reported financial results.
William D. Schwartz, currently president of UFP Retail, will become CEO on December 29, 2024, with base salary rising to $600,000 per year
Matthew J. Missad, CEO since July 2011, becomes executive chairman on December 29, 2024, at a base salary of $500,000 per year
Missad has agreed to remain executive chairman through 2026 and will assist with shareholder relations
CFO Michael Cole will add the title of President of Corporate Services
UFP Industries reported second quarter 2024 net sales of $1.9 billion, down 7% from a year earlier, as selling prices fell 6% and organic unit sales fell 1%. Net earnings attributable to controlling interest were $126 million, down 16%, and diluted EPS was $2.05 versus $2.36, while the company revised its outlook for the rest of 2024 to expect lower demand in Retail and Packaging. Shareholders face lower reported profit and a weaker near-term demand forecast, partly offset by a 10% dividend increase.
Net sales were $1.9 billion, down 7%; net earnings attributable to controlling interest were $126 million, down 16%.
Diluted EPS was $2.05 versus $2.36 a year earlier; adjusted EBITDA was $204 million, down 13%.
The company expects Retail demand to decrease by mid-single digits and Packaging demand to decrease by mid- to high-single digits for the balance of 2024, and Construction demand to increase by low- to mid-single digits.
The board approved a quarterly dividend of $0.33 per share, up 10% from $0.30, payable September 16, 2024.
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.
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
UFP Industries reported fourth-quarter 2023 net sales of $1.5 billion, down 20% from a year earlier, and diluted earnings per share of $1.62, down from $2.10. Fiscal 2023 diluted EPS was $8.07, down 26%, and management expects softer demand and a more competitive price environment in the first half of 2024, while raising its five-year unit growth and profitability goals.
Q4 2023 net sales were $1.52 billion, down 20%, driven by a 10% decline in prices and a 10% decline in organic unit sales.
Q4 2023 net earnings attributable to controlling interest were $103 million, with diluted EPS of $1.62 versus $2.10 in Q4 2022.
Fiscal 2023 net sales were $7.2 billion, down 25%, with diluted EPS of $8.07.
The board approved a quarterly dividend of $0.33 per share, payable March 15, 2024, up 10% from $0.30.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every UFP Industries filing is on SEC EDGAR ↗. 8-K briefs of other companies →