UFP Industries, Inc. (UFPI) is a diversified manufacturer and supplier of wood, wood composites, and other materials. The company operates globally, providing innovative solutions for retail, packaging, and construction markets. UFPI's offerings include a wide range of products for outdoor living, industrial packaging, and housing construction.
- UFP Retail Solutions - Offers pressure-treated lumber, decking, fencing, lattice, decorative lawn and garden products, wood plastic composite decking, mineral-based composite decking, railing systems, aluminum fencing, exterior siding, pattern, trim, and fascia products.
- UFP Construction - Provides products for single-family, multi-family, and factory-built housing, commercial construction, and concrete forming solutions.
- UFP Packaging - Supplies packaging solutions for industrial manufacturers, OEMs, agricultural, and logistics sectors, including pallets, protective packaging, corrugate, foam, labels, strapping, and films.
- UFP International - Operates overseas trading, manufacturing, and design assets, offering packaging solutions in nine countries.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Matthew J. Missad ExecutiveBoard | Executive Chairman of the Board | Matthew J. Missad has been an integral leader at UFPI since 1985, having served in key roles such as Executive Vice President, General Counsel, and Secretary, later becoming CEO on July 13, 2011 and President on January 1, 2023. He transitioned to his current position as Executive Chairman of the Board on December 29, 2024, where he continues to drive strategic leadership and support the company’s evolution. | ||
William D. Schwartz ExecutiveBoard | President and Chief Executive Officer | CEO of UFPI since December 29, 2024. Previously served as President of UFP Retail Solutions, LLC from January 1, 2023 to December 28, 2024. | View Report → | |
Landon Tarvin Executive | President of UFP Retail Solutions, LLC | Landon Tarvin has been the President of UFP Retail Solutions, LLC since December 29, 2024, overseeing a key business segment at UFPI. He previously served in executive roles as vice president of Outdoor Essentials and vice president of Deckorators, contributing to strategic growth at UFPI. | ||
Michael R. Cole Executive | Chief Financial Officer, Treasurer, and President of Corporate Services | Michael R. Cole joined UFPI in 1993 from Deloitte & Touche, was promoted to Vice President of Finance in December 1999 and became Chief Financial Officer on July 19, 2000 before adding the title of President of Corporate Services on December 29, 2024. | ||
Patrick M. Benton Executive | President of UFP Construction, LLC | Patrick M. Benton joined UFPI in 1993 and has served in multiple executive roles including Operations Vice President of the South Texas Region, Executive Vice President of UFP Eastern Division – North, President of UFP Northern Division, and currently as President of UFP Construction, LLC since January 1, 2020. | ||
R. Paul Guerre Executive | Corporate Secretary and Director of Corporate Compliance | R. Paul Guerre joined UFPI in 2020 as Senior Corporate Counsel, was promoted to Deputy General Counsel – Compliance & Administration on May 15, 2023, and then to Corporate Secretary and Director of Corporate Compliance on July 1, 2024. Previously, he served as in-house counsel for Haworth, Inc., gaining valuable legal and compliance experience. | ||
Scott A. Worthington Executive | President of UFP Packaging, LLC | Scott A. Worthington is the President of UFP Packaging, LLC at UFPI since January 1, 2020. He joined UFPI in 1997 and previously served as Regional Vice President of the South Texas Region from 2014. | ||
Benjamin J. McLean Board | Director | CEO of Ruan Transportation Management Systems | Benjamin J. McLean has been a director at UFP Industries since 2020 and is a member of the Audit Committee and the Nominating and Corporate Governance Committee. He is also the CEO of Ruan Transportation Management Systems since 2015. | |
Brian C. Walker Board | Director | Director at Gentex Corporation | Brian C. Walker has served as Director and Chairman of the Audit Committee at UFPI since 2015, providing his expertise in financial oversight and corporate governance. He has also held executive roles at Herman Miller and Huron Capital, underscoring his broad leadership experience. | |
Bruce A. Merino Board | Director | Chair of City of Hope’s Home Improvement Board Council | Bruce A. Merino has been serving as a Director at UFPI since 2016 and is a member of the Personnel and Compensation Committee. He brings a distinguished background in retail and home improvement from his senior roles at The Home Depot. | |
Joan A. Budden Board | Director at UFP Industries | President of a Boutique Consulting Company | Joan A. Budden has been a Director at UFP Industries since 2019 and serves on key board committees including Nominating and Corporate Governance and Personnel and Compensation, drawing on extensive experience in executive roles, notably as President and CEO of Priority Health from January 2016 to January 2021 and as President of a Boutique Consulting Company post-2021. | |
Mary Tuuk Kuras Board | Director | CEO of MTK Practical Leadership; Board member at Western Alliance Bancorporation; Board member at Chorus America | Mary Tuuk Kuras has been a Director at UFPI since 2014 and serves on both the Audit Committee and the Nominating and Corporate Governance Committee, reflecting her extensive leadership experience in various industries over 33 years. | |
Michael G. Wooldridge Board | Director | Counsel at Varnum LLP | Michael G. Wooldridge has served as Director at UFPI since 2016, where he also chairs the Nominating and Corporate Governance Committee and serves as a member of the Personnel and Compensation Committee. He is recognized as an independent director and contributes extensive expertise in corporate governance. | |
William G. Currie Board | Director | CEO of Surefil | William G. Currie joined UFPI in 1971 and has held several key roles such as CEO (1989-2006), Vice Chairman (starting in 2000), and Chairman (2006 until February 2023); he has been a Director since 1978. |
- Based on the sequential improvement in construction margins discussed, how sustainable are the gains given the continued pricing pressures in the site-built segment, and what specific strategies are you implementing to address these challenges?
- With site-built volumes and pricing still under pressure, can you explain if the observed margin improvements are merely seasonal or indicate a longer-term shift in your competitive positioning and cost structure?
- Considering the potential increase in Canadian lumber duties, what concrete actions are you taking to substitute or shift sourcing to domestic species, and how might this impact your overall input costs and supply chain stability?
- In light of the dual capital allocation strategy between aggressive share repurchases and strategic M&A investments, how do you prioritize these initiatives when the market opportunities for quality acquisitions remain uncertain?
- Your SureStone marketing campaign targets both consumer and pro segments, yet composite decking demand shows mixed signals; how do you plan to measure its success and adjust your strategy to ensure sustainable market share gains in a volatile environment?
Research analysts who have asked questions during UFP INDUSTRIES earnings calls.
Ketan Mamtora
BMO Capital Markets
4 questions for UFPI
Kurt Yinger
D.A. Davidson & Co.
4 questions for UFPI
Reuben Garner
Stifel
4 questions for UFPI
Jay McCanless
Wedbush Securities
2 questions for UFPI
James McCanless
Wedbush Securities
1 question for UFPI
Jeffrey Stevenson
Loop Capital Markets LLC
1 question for UFPI
Stephan Guillaume
Sidoti & Company, LLC
1 question for UFPI
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
This company is one of the two largest customers in the Retail segment, accounting for approximately 17% of UFP Industries' total net sales in fiscal 2024. The proximity of manufacturing facilities to customer locations is a factor in annual sales programs, and freight costs are significant in servicing this market, especially for treated wood products due to their weight. | |
This company is another major customer in the Retail segment, contributing approximately 11% of UFP Industries' total net sales in fiscal 2024. Similar to the other large customer, freight costs and proximity of manufacturing facilities are critical factors in servicing this market. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
The Home Depot | Major home improvement and construction retailer | All | FY2024: $1,131 million (17% of net sales) from total net sales of $6,652 million. |
Lowe’s | Major home improvement and construction retailer | All | FY2024: $732 million (11% of net sales) from total net sales of $6,652 million. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
NORPAL S. de R.L. de C.V. and TIBASA Universal Forest Products S. de R.L. de C.V. | 2023 | UFP Global Holdings Ltd. acquired the remaining interests in its two Mexican affiliates and combined them to form UFP Palets y Embalajes S. de R.L. de C.V., expanding its wooden pallet production capabilities in Monterrey, Durango, and Guanajuato to support multinational packaging needs. |
Palets Suller Group | 2023 | UFP Global Holdings Ltd. acquired 80% of UFP Palets y Embalajes SL for approximately $52 million USD, incorporating leading European pallet manufacturing operations in Spain and maintaining key management participation by founder Samuel Suller Oliver with a 20% stake, thus bolstering its market position in the ceramic tile industry. |
Titan Corrugated, Inc. and All Boxed Up, LLC | 2022 | UFP Packaging, LLC acquired Titan Corrugated, Inc. and its affiliate All Boxed Up, LLC, integrating a state‐of‐the‐art corrugated packaging operation with trailing sales of about $46.5 million, and retaining Titan’s leadership to drive replication of its operational model across other regions. |
Dempsey Wood Products, Inc. | 2022 | UFP Industries, through its affiliate PalletOne, Inc., acquired a 50% equity stake for $65.858 million in Dempsey Wood Products, Inc., securing essential industrial wood products like kiln-dried and pallet lumber along with call and put options for future equity adjustments to strengthen its supply chain. |
Cedar Poly, LLC | 2022 | UFP Industries completed the acquisition of Cedar Poly, LLC for $15.4 million in cash plus up to $1.5 million in incentive payments, integrating a full-service recycler of HDPE and LDPE into its Deckorators business unit to enhance sustainability, reduce costs, and secure recycled raw material supplies while maintaining management continuity. |
Recent press releases and 8-K filings for UFPI.
- UFP Factory Built, a division of UFP Industries’ Construction segment, has acquired the Twin Falls, Idaho facility of Robert Weed Corporation.
- This acquisition is intended to add regional service and greater capacity to UFP Factory Built’s operations.
- The transaction aims to strengthen the company’s position in the RV, cargo trailer, and manufactured housing spaces by expanding its western footprint.