Universal Forest Products Inc. (Nasdaq: UFPI), Grand Rapids, MI, reported sales for the second quarter of $738.4 million, a 24.4 percent increase over 2012 second-quarter results. Profit fell 9.7 percent to $15.8 million.
Retail building materials sales were $315 million, up 12.9 percent over the second quarter of 2012. Forecasts call for moderate growth in home improvement projects through the end of the year, including decking and railing projects.
Industrial packaging/components sales were $193.4 million, up 20.6 percent over the second quarter of 2012. U.S. industrial production was flat in May 2013 after having decreased 0.4 percent in April 2013; year-over-year industrial production was up 1.6 percent in May 2013, the most recent statistics available.
Manufactured housing sales were $109.5 million, an increase of 35.7 percent over the same period in 2012. Industry production of HUD-code homes in April and May was up 11 percent over the same period of 2012; modular home production also improved.
Residential construction sales were $94.3 million, up 57.3 percent over the same period in 2012.
Commercial construction and concrete forming sales were $37.5 million, up 56.2 percent over the second quarter of 2012. The company’s sales increase reflects efforts to expand its sales reach and market penetration and to leverage its design and manufacturing capabilities and nationwide presence.
For the first half, sales for Universal Forest Products were $1.3 billion, a 23 percent increase compared to the same period in 2012. Profit decreased 3.1 percent to $21 million.
