According to seekingalpha, Universal Forest Products, Inc. (NYSE:UFPI) notched its best first quarter ever, posting Q1 sales of $682.2 million, 7.8 percent over the 2015 numbers, and $3.35 million better than the consensus estimates. The unit volume increased in all markets by an aggregate of nearly 13 percent.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for Q1 is $42.7 million versus $28.5 million last year, and of greater significance, 6.3 percent of net sales against 4.5 percent a year ago.

Earnings per share (EPS) of $0.95 beat the consensus estimate by $0.12. Net debt is $42 million as compared to $186 million for the comparable quarter. Operating profit rose $14 million, while bottom line earnings increase by more than $9 million, or 89 percent.

In the Construction Market, which includes manufactured housing, revenue was $218.9 million, up nine percent, as growth in this market was due to a 15 percent increase in unit sales. Gross sales were partially offset by a six percent drop in selling prices, the result of lower lumber prices.

MHProNews knows UFPI as a component supplier to the MH industry. ##

(Photo credit: Universal Forest Products, Inc.)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.