Building materials manufacturer UFP Industries (NASDAQ: UFPI) will be announcing earnings results this Wednesday after market close. Here’s what you need to know.
UFP Industries beat analysts’ revenue expectations last quarter, reporting revenues of $1.88 billion, up 2.6% year on year. It was a very strong quarter for the company, with a decent beat of analysts’ EBITDA and EPS estimates.
Is UFP Industries a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting UFP Industries’s revenue to grow 2.6% year on year, a reversal from the 5.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. UFP Industries has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at UFP Industries’s peers in the building products segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Valmont delivered year-on-year revenue growth of 5.5%, missing analysts’ expectations by 1.3%, and Apogee reported revenues up 9.2%, topping estimates by 11.3%. Valmont’s stock price was unchanged after the results while Apogee was up 15.3%.
Read our full analysis of Valmont’s results here and Apogee’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the building products stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.2% on average over the last month. UFP Industries is up 1.9% during the same time and is heading into earnings with an average analyst price target of $100.80 (compared to the current share price of $80.95).
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