Universal Forest Products Inc. (UFPI) announced today that its first quarter earnings are up 41% from the same period last year. Net sales for Q1 were $633 million, a 14% increase from the same quarter in 2014.
The company’s three markets each posted gross sales results for Q1 in 2015 that were higher than Q1 in 2014. Retail posted $229.9 million, up 14%. Industrial posted $211.2 million, up 23%. Construction posted $200.7 million, up 6%. The overall sales increase was attributable to a 14% gain in unit sales.
“Growth with our retail customers, success with new product introductions, and significant gains in our industrial business aided by strong results from new acquisitions were among the drivers that helped us deliver these results, he added. Our strategies to improve top- and bottom-line results are working, and we are focused on enhancing our growth and success day by day," CEO Matthew J. Missad said.
