UFP Industries Announces Third Quarter 2026 Results

Will Schwartz, President and CEO of UFP Industries

“Organic unit growth strengthened in the third quarter despite continued pressure across several of our end markets, which speaks to the successes we are seeing with our product and market-share initiatives. New products increased to 8.7 percent of net sales, led by continued momentum in our Deckorators, Structural Packaging, and Construction value-added offerings. The breadth of this growth demonstrates the benefits of our balanced portfolio and the investments we have made to drive above-market growth and gain share, even as underlying demand across many of our end markets remains challenged. Profitability continued to be affected by elevated transportation and material costs, which limited the earnings benefit from higher volumes and an improved earnings profile. We continue to focus on what we can control. We now expect to meet or exceed our initial $60 million cost-savings objective by year-end, and we continue to pursue additional productivity, capacity consolidation, and cost reduction opportunities. We also see further profit-improvement opportunities as we integrate recent acquisitions, improve utilization of our newer facilities, and increase the mix of new and value-added products across our portfolio. Importantly, the progress we have made in strengthening the underlying profitability of the business remains intact. Our profitability today is meaningfully stronger than it was before our management structure change in 2019, even though transportation costs have increased significantly as a percentage of net sales since then. These higher costs have masked some of the earnings improvement we have made across the portfolio, but we believe our cost actions and operating initiatives provide meaningful opportunities to improve profitability without relying on a near-term market recovery.”

Will Schwartz, President and CEO of UFP Industries

“Our financial position remains a competitive advantage. We ended the quarter with approximately $2 billion of liquidity and no borrowings outstanding under our revolving credit facility, giving us the flexibility to invest through the cycle. So far this year, we have completed three acquisitions, announced a fourth, and returned more than $240 million to shareholders through dividends and share repurchases. Our M&A pipeline remains active, and we will stay disciplined, pursuing opportunities that strengthen our core businesses, expand our value-added portfolio, and meet our return criteria.”