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Universal Forest Products Inc. Message Board

  • jerrycampbell_ma jerrycampbell_ma Apr 18, 2013 4:48 PM Flag

    Strong earnings quarter. Underlying details not so great.

    Headline number beating estimates by 20 cents was great. The market obviously liked it +8%.

    Some of the details are not so positive.

    - Much of the surprise was due to a lower tax rate.
    - Receivables up
    - Inventory up
    - In fact the accrual accounts were up so much so that cash flow was negative.

    No position here, but curious if anyone else read it differently.

    Sentiment: Hold

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