Ufp Industries, Inc. · NASDAQ:UFPI
Ufp Industries — Q3 2025 Earnings Presentation
34 slides from Ufp Industries's earnings presentation, Oct 29, 2025
Slide 1: Investor Relations Presentation – Results through September 27, 2025
Deckorators Voyage Decking with Surestone Technology INVESTOR RELATIONS PRESENTATION Results through September 27, 2025
Slide 2: Forward-looking statements and non-GAAP information
Please be aware that statements included in this presentation that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, and are based on management’s beliefs, assumptions, current expectations, estimates, and projections abou
Slide 3: UFP operating segments and mission
The operating segments of UFP Industries – UFP Packaging, UFP Construction and UFP Retail Solutions – convert 7% of North American softwood lumber, manufacturing and selling a wide variety of value-added products used in residential and commercial construction, outdoor living, packaging and other in
Slide 4: Growth, ROIC and 5-year performance
~5% Average Annual Unit growth ~10% Average Annual ROIC Growth 2024: 18.3% ~300bps Expansion in adjusted EBITDA Margin 2024: 10.3% UFP Industries is focused on driving above market growth and compounding margins higher over time while maintaining best-in-class ROIC. 4 5 YEAR PERFORMANCE* +30% Averag
Slide 5: U.S. softwood consumption by end market and UFP revenue by segment
TOTAL U.S. SOFTWOOD CONSUMPTION BY END MARKETS* $2.6B $2.1B $1.6B UFP 2024 REVENUE BY BUSINESS SEGMENTS *Source: Forest Economic Advisors. Improvements = Retail. Industrial = Packaging 5 19.8B board feet 19.5B board feet 11.2B board feet CONSTRUCTION IMPROVEMENTS INDUSTRIAL UFP has built-in scale ad
Slide 6: Growth strategies
Market Expansion Unit Sales Growth Product & Process Innovation Margin Growth NEW PRODUCTS • Long-term goal of 10% of net sales • Alternative materials to broaden markets/customers • Enhance EBITDA margin R&D/INNOVATION • Dedicated innovation teams • Internal venture fund investments PRODUCT RATIONA
Slide 7: UFP at a Glance
~14,000 Employees worldwide 213 Facilities worldwide 1955 Founded in Grand Rapids, MI $6.5B Q3 2025 TTM Net Sales 39% 32% 25% 4% Based on Q3 2025 TTM Net Sales $2.5B Big box, independents, & buying co-ops $1.6B Industrial manufacturers, OEM’s, agricultural and logistics UFP AT A GLANCE $2.1B Single-
Slide 8: Where We Are
8 213 Locations 7 Countries WHERE WE ARE 188 5 1 2 10 1 6
Slide 9: Business model provides sustainable competitive advantages
BUSINESS MODEL PROVIDES SUSTAINABLE COMPETITIVE ADVANTAGES 9 As North America’s largest buyer of softwood lumber, UFP owns scale advantage in sourcing and in serving the three largest softwood end markets – residential construction, retail building products and industrial packaging. While in its ear
Slide 10: Long-term financial goals
Annual unit sales growth of 7-10% including small acquisitions; new product sales are 10% of total net sales Achieve and sustain a 12.5% adjusted EBITDA margin Earn an incremental return on new investment greater than our 15% hurdle rate Maintain a conservative capital structure < 1.5X Adjusted EBIT
Slide 11: Value-added sales mix improves margins
2013 41% 59% 3% 31% 69% 7.2% 40% 60% 9.7% 31% 69% 10.3% 31% 69% 9.1% Value-added as a percent of sales VALUE-ADDED SALES Commodity Value-added 2011 2021 2024 Value-added products improve mix, raise EBITDA margins 11 2019 EBITDA Margin PalletOne and Spartanburg Forest Products acquisitions Q3 2025 TT
Slide 12: Investments in value-added adjacencies add to TAM
CONSTRUCTION RETAIL PACKAGING ALTERNATIVE MATERIALS MANUFACTURING GROWTH Investments in value-added adjacencies add to TAM 12 Wood Components BROADER MARKET OPPORTUNITIES | MARGIN ENHANCEMENT | INCREASED WALLET SHARE Core/Historical Current state/Future scaling growth via capex and M&A Pressure-Trea
Slide 13: Innovation and new products
• Create alternative product lines in close adjacencies to our current business • Source new technology solutions to spur growth and enhance productivity The company is making investments to Commitment to innovation moves the company steadily up the value chain. INNOVATION AND NEW PRODUCTS In 2022 w
Slide 14: Business segments
BUSINESS SEGMENTS Commodity 46% Value Added 54% Commodity 24% Value Added 76% Commodity 18% Value Added 82% ProWood Group $2.2 Billion Deckorators $292 Million Other $2.6 Million Structural Packaging $1.0 Billion PalletOne $525 Million Protective Packaging Solutions $81 Million Site Built $756 Milli
Slide 15: UFP Retail Solutions products
On-trend brands to all major building products retailers, backed by best-in-class in-store and e-commerce support *Sales mix is 73% to Big Box customers and 27% to one- and two-step distribution as of Q3 2025 YTD. Premium siding, pattern, trim; interior accent wall products Wood- and mineral-based c
Slide 16: UFP Packaging solutions
Innovative packaging solutions and components backed by a global manufacturing footprint and the industry’s leading engineering, design, and integrated service teams Structural Packaging Wood, steel, foam and corrugated for mixed material crates and specialty containers; hard cases, lumber processin
Slide 17: UFP Construction offerings
Floor, wall and roof panels, cabinet components, countertops and milled components for modular and manufactured homes; Components for RV/cargo trailer and mobile offices. Offsite prefabrication of value-add formwork, aluminum horizontal shoring and vertical forming solutions for use in infrastructur
Slide 18: Segment demand and forward outlook
MACRO DRIVERS INDUSTRY/CONSUMER TRENDS SHORT-TERM OUTLOOK SEGMENT DEMAND AND FORWARD OUTLOOK 18 • Repair and remodel activity • Aged housing stock • Housing turnover • Home equity at historic highs, but HELOC rates elevated as well • Consumers delaying larger projects • Lock-in mortgage effect • Dem
Slide 19: Sustainability continuum
Drive operational excellence throughout the enterprise Cultivate a unique, rewarding culture throughout the UFP family of companies Provide significant opportunity for professional and personal growth Support communities in which we operate Supply exceptional products from sustainable sources Mainta
Slide 20: Financials
FINANCIALS 8) UFP INDUSTRIES
Slide 21: Our performance
OUR PERFORMANCE Net Earnings (ACI) ROIC 2021 2023 2022 Unit sales growth rate $ in Millions Growth rate Strong track record of growth and performance improvement with emphasis on improving gross profit dollars per unit sold and ROIC. Q3 2025 TTM Adjusted EBITDA Margin exceeds 2019 by ~200 bps. 2024
Slide 22: Managing lumber market risk
MANAGING LUMBER MARKET RISK Adjusted EBITDA Margin Lumber Market Volatility*39.9% 39.9% 6.1% 5.8% 6.3% 9.7% 11.4% 11.2% 10.3% 9.1% 0% 10% 20% 30% 40% 50% 0% 10% 20% 30% 40% 50% 2021 2022 2023 2024 Q3 2025 TTM Lumber Market Volatility Adjusted EBITDA Margin *Standard deviation of lumber prices divide
Slide 23: Net sales
NET SALES (in millions) $8,636 $9,627 $7,218 $6,652 $6,453 2021 2022 2023 2024 Q3 2025 TTM UFP Consolidated $3,535 $3,771 $2,956 $2,598 $2,514 2021 2022 2023 2024 Q3 2025 TTM UFP Retail Solutions $2,148 $2,395 $1,838 $1,637 $1,609 2021 2022 2023 2024 Q3 2025 TTM UFP Packaging $2,698 $3,144 $2,161 $2
Slide 24: Adjusted EBITDA
$317 $835 $1,097 $810 $682 $589 2019 2021 2022 2023 2024 Q3 2025 TTM UFP Consolidated $75 $198 $217 $208 $221 $184 2019 2021 2022 2023 2024 Q3 2025 TTM UFP Retail Solutions $101 $300 $376 $244 $159 $146 2019 2021 2022 2023 2024 Q3 2025 TTM UFP Packaging $96 $283 $422 $272 $208 $170 2019 2021 2022 20
Slide 25: Adjusted unit sales and EBITDA growth
UFP Consolidated UFP Retail Solutions UFP Packaging UFP Construction ADJUSTED UNIT SALES AND EBITDA GROWTH 28% 2% (9)% (1)% (4)% 94% 31% (26)% (16)% (14)% -40% -20% 0% 20% 40% 60% 80% 100% 2021 2022 2023 2024 Q3 2025 TTM 40% (1)% (6)% (3)% (1)% 200% 25% (35)% (35)% (8)% -50% -10% 30% 70% 110% 150% 1
Slide 26: Balanced use of free cash flow
BALANCED USE OF FREE CASH FLOW Return-focused approach to capital allocation $512 $832 $960 $643 $544 $40 $59 $68 $81 $83 $96 $82 $159 $281 $151 $174 $180 $232 $272 $476 $180 $52 $30 $47 Acquisitions Capex Share Buyback Dividends OCF 2021 2022 2023 2024 Operating Cash Flow and Capital Allocation (in
Slide 27: Return on invested capital
RETURN ON INVESTED CAPITAL Hurdle Rate = 15% Percent 31.9% 34.6% 22.2% 18.3% 14.5% 0% 5% 10% 15% 20% 25% 30% 35% 40% 2021 2022 2023 2024 Q3 2025 TTM WACC = 10% Long-Term Goal: Earn an incremental return on new investment greater than our hurdle rate Non-GAAP Financial Information: Please visit ufpin
Slide 28: Recent acquisitions
Process Identify attractive growth runways in each Business Unit under each Business Segment and identify gaps in our capabilities to pursue those runways. Find new products and services to speed our transformation from commodity sales to value-added selling solutions and brands. Purpose Achieve sca
Slide 29: Capital structure
CAPITAL STRUCTURE Conservative capital structure ensures ample resources to pursue investment opportunities with the highest return potential. Net Debt to Total Capitalization vs Maximum Target Net Debt to Adjusted EBITDA vs Maximum Target 2.5% 0.0% 0.0% 0.0% 0.0% 0% 5% 10% 15% 20% 25% 30% 35% 40% 4
Slide 30: Stock performance
STOCK PERFORMANCE Long-term returns on UFPI stock are consistently above the proxy peers and major market indices Peers include MAS, BLDR, TREX, LPX, SSD, BCC, PATK, AMWD, SON, GEF, ROCK Stock prices are adjusted to account for dividend payouts Source: FactSet as of 10/15/2025 closing prices -31.3%
Slide 31: Quarterly Results
QUARTERLY RESULTS @) urp inpustRies
Slide 32: Net sales Q3 2025
NET SALES Q3 2025 (in millions) $1,649 $1,462 $1,596 $1,835 $1,560 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 UFP Consolidated $636 $525 $607 $788 $594 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 UFP Retail Solutions $402 $375 $410 $429 $395 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 UFP Packaging $535 $487 $
Slide 33: Adjusted EBITDA Q3 2025
ADJUSTED EBITDA Q3 2025 (in millions) $165 $133 $142 $174 $140 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 UFP Consolidated $51 $44 $36 $64 $40 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 UFP Retail Solutions $34 $38 $35 $39 $34 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 UFP Packaging $51 $45 $37 $45 $42 Q3 20
Slide 34: Thank You
2801 E. Beltline Ave. NE Grand Rapids, MI 49506 (800) 598-9663 - UFPI.com THANK YOU 34