UFP Industries, Inc. (UFPI) has reported a decline in its third-quarter profit compared to the same period last year, missing the anticipated figures estimated by Wall Street analysts.
The company's net income amounted to $99.80 million, or $1.64 per share, as opposed to $134.04 million, or $2.10 per share, recorded in the third quarter of the previous year.
Based on data gathered by Thomson Reuters, industry analysts had, on average, projected earnings of $1.89 per share for the company. Typically, analysts' forecasts do not account for special items.
The revenue for the quarter saw a reduction of 9.7%, decreasing to $1.649 billion from $1.827 billion in the same quarter last year.
An overview of UFP Industries, Inc.'s third-quarter earnings based on Generally Accepted Accounting Principles (GAAP) is as follows:
- Earnings: $99.80 million compared to $134.04 million last year.
- Earnings Per Share (EPS): $1.64 compared to $2.10 last year.
- Revenue: $1.649 billion compared to $1.827 billion last year.
