UFP Industries, Inc. (UFPI) “Universal Forest Products” is a commercial distributor of lumber and treated wood products. The company’s main business includes retail, industrial, and construction markets each with leading specialized brands. While there were some concerns during the early stages of the pandemic regarding the operating outlook, surprising strength in the retail segment with consumers pursuing home improvement projects supported better than expected Q2 earnings. We see UFPI continuing to benefit from strong trends in the U.S. housing market driving operational and financial momentum for the remainder of the year. Beyond uncertainties regarding the strength of the economic recovery, we like UFPI given its overall strong fundamentals and see value in shares at the current level.
UFPI Financials Recap
UFPI last reported its Q2 earnings on July 22nd with GAAP EPS of $1.08 which beat expectations by $0.48. Revenue of $1.24B billion was flat on a year