UFP Industries: Q2 Earnings Snapshot

GRAND RAPIDS, Mich. (AP) _ UFP Industries, Inc. (UFPI) on Wednesday reported second-quarter earnings of $173.4 million.

On a per-share basis, the Grand Rapids, Michigan-based company said it had profit of $2.78. Earnings, adjusted for gains related to mergers and acquisitions, were $2.61 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.

The wood and materials provider for the construction industry posted revenue of $2.7 billion in the period.

UFP Industries shares have risen 31% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $72.69, an increase of 42% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UFPI at https://www.zacks.com/ap/UFPI

Categories: Business News