Free Research Report as Universal Forest Products' Sales Surged 20.7%; Earnings Jumped 29.1%

Stock Monitor: Jewett-Cameron Trading Post Earnings Reporting

LONDON, UK / ACCESSWIRE / July 24, 2018 / If you want access to our free earnings report on Universal Forest Products, Inc. (NASDAQ: UFPI) ("UFPI"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=UFPI. The Company reported its financial results on July 18, 2018, for the second quarter of the fiscal year 2018 (Q2 FY18). The Company reported record net sales and net earnings for the twelfth consecutive quarter. The wood and materials provider surpassed analysts' estimates for sales for Q2 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Jewett-Cameron Trading Company Ltd (NASDAQ: JCTCF), which also belongs to the Industrial Goods sector as the Company Universal Forest Products. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Universal Forest Products most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=UFPI

Earnings Highlights and Summary

For the second quarter ended June 30, 2018, UFPI's sales grew 20.7% to $1.29 billion compared to $1.07 billion in the second quarter of the fiscal year 2017. The Company's revenue numbers outperformed analysts' estimates of $1.19 billion.

During Q2 FY18, UFPI's cost of goods sold hiked 22.1% to $1.13 billion from $924.1 million in Q2 FY17. The Company posted a gross profit of $165.7 million in the reported quarter versus $148.2 million in the year ago comparable period, increasing 11.8% on a y-o-y basis.

For the reported quarter, UFPI's selling, general, and administrative expenses (SG&A) rose 10.6% to $104.6 million compared to $94.6 million in the year ago corresponding period. The Company's earnings from operations was $60.6 million in Q2 FY18, up by 12.5% from $53.9 million in Q2 FY17.

UFPI's earnings before interest, tax, depreciation, and amortization (EBITDA) climbed 13.6% to $77.0 million in Q2 FY18 compared to $67.8 million in Q2 FY17.

UFPI posted net earnings attributable to controlling interest of $44.0 million in Q2 FY18, up by 30.9% from $33.6 million in Q2 FY17. The Company's earnings per share (EPS) soared 29.1% to $0.71 in Q2 FY18 compared to $0.55 in Q2 FY17, missing analysts' estimates of $0.73.

Segment Details

UFPI operates in three segments, namely (i) Retail; (ii) Construction; and (iii) Industrial.

For the reported quarter, UFPI's Retail segment's sales were $545.5 million, up 19.0% from $458.3 million in the year earlier same quarter. For Q2 FY18, the segment's sales to big box customers increased 16%, while its sales to independent customers grew 25%.

During Q2 FY18, UFPI's Construction segment's sales advanced 18.7% to $404.1 million compared to $340.5 million in Q2 FY17. For the reported quarter, the segment's sales to customers in commercial construction grew 32%, while its sales to manufactured housing and residential construction customers increased 28% and 22%, respectively, on a y-o-y basis.

UFPI's Industrial segment added sales of $370.8 million in Q2 FY18 compared to $293.5 million in Q2 FY17, increasing 26.3% on a y-o-y basis.

Cash Matters

As of June 30, 2018, UFPI's cash and cash equivalents stood at $27.5 million compared to $24.6 million as of June 30, 2017. The Company had long-term debt and capital lease obligations of $276.3 million as of June 30, 2018, versus $204.7 million as of June 2017. For the six month ended June 30, 2018, the Company used cash in operating activities of $36.1 million compared to cash generated of $15.2 million in the six months ended June 30, 2017.

During the month of June 2018, UFPI acquired North American Container Corp., which is an industrial packaging manufacturer based in Georgia with sales of approximately $71.0 million in 2017.

Stock Performance Snapshot

July 23, 2018 - At Monday's closing bell, Universal Forest Products' stock fell 2.26%, ending the trading session at $35.85.

Volume traded for the day: 415.42 thousand shares, which was above the 3-month average volume of 300.50 thousand shares.

Stock performance in the previous three-month period - up 7.85%; and past twelve-month period - up 26.84%

After yesterday's close, Universal Forest Products' market cap was at $2.31 billion.

Price to Earnings (P/E) ratio was at 15.55.

The stock has a dividend yield of 1.00%.

The stock is part of the Industrial Goods sector, categorized under the Lumber, Wood Production industry.

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