Building materials manufacturer UFP Industries (NASDAQ: UFPI) will be reporting earnings tomorrow afternoon. Here’s what to look for.
UFP Industries beat analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $1.46 billion, down 4.1% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ sales volume estimates but a significant miss of analysts’ adjusted operating income estimates.
Is UFP Industries a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting UFP Industries’s revenue to be flat year on year at $1.63 billion, improving from the 10.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.57 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. UFP Industries has missed Wall Street’s revenue estimates six times over the last two years.
Looking at UFP Industries’s peers in the building products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Carlisle posted flat year-on-year revenue, beating analysts’ expectations by 0.6%, and Valmont reported flat revenue, falling short of estimates by 0.6%. Carlisle traded up 6.1% following the results, while Valmont was also up 6.5%.
Read our full analysis of Carlisle’s results here and Valmont’s results here.
Investors in the building products segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. UFP Industries is down 1.2% during the same time and is heading into earnings with an average analyst price target of $133 (compared to the current share price of $105.72).
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