The 2020 Mid-Year Economic Update_long

Universal Forest Products Sales Up 14.3% in 1Q

Company's net earnings increase 40.8 percent year-over-year.

Universal Forest Products Inc. (NASDAQ: UFPI), Grand Rapids, MI, reported sales for the first quarter of $633 million, up 14.3 percent from the previous year. Net earnings were $10.2 million, up 40.8 percent from the same period in 2014.

“Growth with our retail customers, success with new product introductions and significant gains in our industrial business aided by strong results from new acquisitions were among the drivers that helped us deliver these results," said CEO Matthew J. Missad.

First-quarter sales in the company’s retail ($229.8 million), industrial ($211.2 million) and construction ($200.7 million) businesses improved year-over-year, with increases of 14 percent, 23 percent and 6 percent, respectively.

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