Stephan Guillaume's questions to Ufp Industries Inc (UFPI) leadership • Q3 2024
Question
Stephan Guillaume of Sidoti & Company asked about potential strategies to manage margins if the market weakens further and how the new products planned for 2025 would position the company for growth amid continued volatility.
Answer
CFO Mike Cole reiterated the company's focus on existing strategies like reducing operating costs, facility consolidations, and cutting SG&A, stating there were no other 'magic items' to pull. CEO Matt Missad explained that new products are required to meet higher margin and return criteria, which should enhance performance even in a flat demand environment. He also noted that the company has successfully accelerated its new product development and introduction cadence.