Universal Forest Products (UFPI) Misses Q4 EPS by 2c, Revenues Miss

Universal Forest Products (NASDAQ: UFPI) reported Q4 EPS of $0.50, $0.02 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $988 million versus the consensus estimate of $1.02 billion.

“I’m pleased that the people of Universal were able to manage through significant fluctuations in the lumber market in 2018 and still post these outstanding results,” stated CEO Matt Missad. “The results attest to the strength of the diverse markets we serve, which mitigates our lumber market risk. Our improved operating margins, while partly helped by declining lumber prices during the fourth quarter, reflect our improved product mix and operational efficiencies.”

“We’ll continue to work to increase shareholder value by reinvesting capital in acquisitions, automation and new product development,” added Matt. “We’ll also buy back shares when market conditions warrant it, as they did during the fourth quarter.”

For earnings history and earnings-related data on Universal Forest Products (UFPI) click here.

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