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.)
