The 2020 Mid-Year Economic Update_long

Universal Forest Products Sales Up 9.5% in 3Q

UFPI sees increased sales in all markets, profit up 36.5 percent.

Universal Forest Products Inc. (Nasdaq: UFPI), Grand Rapids, MI, reported third-quarter sales of $713.5 million, up 9.5 percent over the same period a year ago. Profit increased 36.5 percent to $19.2 million.

UFPI benefited from an positive lumber market. Inthe third quarter, the composite lumber price was up 10.7 percent over the previous year, offset partially by an 18 percent decline in oriented strand board prices. The company estimates that higher overall lumber prices raised its selling prices and sales by 6 percent. 

Industrial sales were $211.3 million, a 13 percent increase over the same period of 2013. And construction sales were $239.8 million, up 6 percent over the third quarter of 2013.

Retail sales were $272.5 million, a 10 increase percent over the third quarter of 2013.

For the first nine months, UFPI had sales of $2 billion, up 4.9 percent over the prior-year period. Profit grew 37.5 percent to $48.2 million.

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