Building materials manufacturer UFP Industries (NASDAQ: UFPI) will be reporting earnings this Wednesday after market close. Here’s what you need to know.
UFP Industries missed analysts’ revenue expectations last quarter, reporting revenues of $1.33 billion, down 9% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income 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 decline 5.1% year on year, a further deceleration from the 2.7% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Valmont delivered year-on-year revenue growth of 6.2%, beating analysts’ expectations by 3%, and Carlisle reported a revenue decline of 4%, falling short of estimates by 1.1%. Valmont traded up 13.9% following the results while Carlisle’s stock price was unchanged.
Read our full analysis of Valmont’s results here and Carlisle’s results here.
There has been positive sentiment among investors in the building products segment, with share prices up 15.1% on average over the last month. UFP Industries is up 6.7% during the same time and is heading into earnings with an average analyst price target of $111 (compared to the current share price of $95).
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