Building materials manufacturer UFP Industries (NASDAQ: UFPI) will be reporting results this Wednesday after market hours. Here’s what you need to know.
UFP Industries missed analysts’ revenue expectations last quarter, reporting revenues of $1.46 billion, down 8.4% year on year. It was a disappointing quarter for the company, with a significant miss 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 decline 2.7% year on year, in line with the 3.5% 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 Q2 results, giving us a hint as to what we can expect. Valmont delivered year-on-year revenue growth of 6.5%, beating analysts’ expectations by 2.6%, and Apogee reported a revenue decline of 1.1%, topping estimates by 3.4%. Valmont traded down 7.3% following the results.
Read our full analysis of Valmont’s results here and Apogee’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the building products stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.3% on average over the last month. UFP Industries is down 3.4% during the same time and is heading into earnings with an average analyst price target of $103 (compared to the current share price of $88.33).
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