UFP Industries (UFPI) Q4 Earnings Top Estimates, Margins Up
Zacks Investment Research | Feb 19, 2020 09:14PM ET
UFP Industries, Inc. (NASDAQ:UFPI) reported strong earnings in fourth-quarter 2019 on the back of increased unit sales, its ability to leverage fixed costs, and improved sales of higher-margin, value-added products that comprise a greater portion of its product mix. The company’s bottom line not only surpassed the Zacks Consensus Estimate but also increased year over year. Notably, this was the best fourth-quarter performance in the company’s history.
The stock inched up 0.4% in the after-hour trading session on Feb 19.
On Feb 3, 2020, it announced changes in the frequency of dividend payments from semi-annual to quarterly. Also, it raised quarterly cash dividend by 25% to 12.5 cents a share, payable on Mar 15, 2020 to its shareholders of record on Mar 1, 2020.
Earnings & Net sales Discussion
The company’s earnings of 61 cents per share topped the consensus estimate of 59 cents by 3.4%. Also, the reported figure increased 19.6% from 54 cents reported in the year-ago period.
UFP Industries, Inc. Price, Consensus and EPS Surprise
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