The 2020 Mid-Year Economic Update_long

Universal Forest Products Sales Up 4% in 2Q

Year-to-date sales increase 5.6 percent year-over-year.

Universal Forest Products Inc. (NASDAQ: UFPI), Grand Rapids, MI, reported sales for the second quarter of $872.1 million, up 4 percent from the previous year. Net earnings were $33.4 million, up 28.6 percent from the same period in 2015.

Second-quarter sales were driven by strong sales gains in the retail and construction markets, which grew 7.5 and 6.5 percent, respectively, over the same period of last year.

For the first six months, the company reported sales of $1.6 billion, up 5.6 percent from the same period a year ago. Profit grew 45.6 percent to $53 million.

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