UFP Industries Q2 net sales $1.9B, EPS $2.05; net earnings down 16% YoY

UFP INDUSTRIES INC

2024-Q2 EPS reported $4.00 revenue$3,540,925,000

Net sales of $1.9B decreased 7% YoY; selling prices down 6%, organic unit sales down 1%.
Net earnings attributable to controlling interest of $126M, down 16% YoY.
Diluted EPS of $2.05; adjusted EBITDA of $204M, margin 10.7% (down 80 bps).
New product sales of $134M, 7.0% of total sales vs. 7.4% in Q2 2023.
CEO notes investments in automation, acquisitions, and returning capital via increased dividend and buybacks.

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