UFPI sales edge up in Q4
Universal Forest Products, Inc., (UFPI) reported that 2018 fourth quarter net sales increased 2% to $988 million from 2017 fourth quarter net sales of $966 million.
For the full year, the Grand Rapids, Mich.-based company posted net sales of $4.49 billion, rising 14% from 2017 net sales of $3.94 billion.
Net earnings for the fourth quarter fell 4.5% to $31.6 million from net earnings of $33.1 million during the same period a year ago. Full-year 2018 net earnings rose nearly 23% to $152.4 million from earnings of $124 million in the previous year
Fourth quarter retail sales fell 8% to $303.4 million for the quarter. The company lower unit sales and lower selling prices each accounted for 4% percent of the decrease. For the year, retail sales increased 11% to $1.66 billion.
Industrial sales increased 11% to $390.5 million for the quarter and grew 16% to $1.56 billion for the year.
Construction sales were up 1% to $306.1 million for the quarter with unit sales to commercial and residential customers rising 18% and 7%. Full-year construction sales increased 15% to $1.35 billion.
For the full year, the Grand Rapids, Mich.-based company posted net sales of $4.49 billion, rising 14% from 2017 net sales of $3.94 billion.
Net earnings for the fourth quarter fell 4.5% to $31.6 million from net earnings of $33.1 million during the same period a year ago. Full-year 2018 net earnings rose nearly 23% to $152.4 million from earnings of $124 million in the previous year
Fourth quarter retail sales fell 8% to $303.4 million for the quarter. The company lower unit sales and lower selling prices each accounted for 4% percent of the decrease. For the year, retail sales increased 11% to $1.66 billion.
Industrial sales increased 11% to $390.5 million for the quarter and grew 16% to $1.56 billion for the year.
Construction sales were up 1% to $306.1 million for the quarter with unit sales to commercial and residential customers rising 18% and 7%. Full-year construction sales increased 15% to $1.35 billion.