UFPI Beats Expectations in Q3

Updating a story MHProNews posted Oct. , concerning Universal Forest Products, Inc.’s (UFPI) release of Q3 financials, the company’s earnings exceeded analysts expectations by.17 cents per share to .71, and gross sales grew by 22 percent over the same quarter last year, according to Zacks.com. UFPI manufactures and distributes a variety of solid wood, wood like and plastic building materials to a variety of industries, which all saw increases for the quarter. Sales to the manufactured housing industry sector rose 12.3 percent over the same quarter last year to $100 million, accounting for 15 percent of gross revenues. The company’s long-term debt dropped 40.6 percent sequentially to $84.7 million, and net cash from operations improved from $22.2 million last year Q3 to $76.7 million.

(Photo credit: woodworkingnetwork–Universal Forest Products, Inc.–wood composite “eovations” being cut.)

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