Ufp Industries, Inc. · NASDAQ:UFPI
Ufp Industries — Q4 2025 Earnings Presentation
33 slides from Ufp Industries's earnings presentation, Feb 24, 2026
Slide 1: Investor Relations Presentation
1 INVESTOR RELATIONS PRESENTATION Deckorators Voyage Decking Results through December 27, 2025 with Surestone Technology
Slide 2: UFP Industries, Inc.
UFP INDUSTRIES, INC. 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,
Slide 3: No Mission Statement. Just People on a Mission.
The operating segments of UFP Industries – UFP Packaging, UFP Construction and UFP Retail Solutions – convert 6% 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: 5 Year Performance
4 UFP Industries is focused on driving above market growth and compounding margins higher over time while maintaining best-in-class ROIC. 5 YEAR PERFORMANCE* ~ 10% ~3% ~170bps ~24% ~13% Average Annual Expansion in Average Annual Average Annual Average Annual Unit growth adjusted EBITDA ROIC TSR Grow
Slide 5: Scale advantage as largest converter of softwood lumber
5 UFP has built-in scale advantage as the largest converter of softwood lumber in fragmented North American market IMPROVEMENTS 19.4B board feet INDUSTRIAL $2.4B 11.2B board feet $1.6B CONSTRUCTION 19.2B board feet $2.0B TOTAL SOFTWOOD CONSUMPTION BY END UFP 2025 REVENUE BY BUSINESS MARKETS* SEGMENT
Slide 6: UFP at a Glance
UFP AT A GLANCE 1955 ~14,000 196 $6.3B $563.6M Founded in Grand Employees Facilities 2025 2025 Adjusted Rapids, MI worldwide worldwide Net Sales EBITDA Business segments and markets Based on 2025 Net Sales $2.4B $1.6B Big box, independents, & buying co-ops Industrial manufacturers, OEM’s, agricultur
Slide 7: Where We Are
WHERE WE ARE 1 173 2 1 8 5 196 6 Locations 7 Countries 7
Slide 8: Business Model Provides Sustainable Competitive Advantages
BUSINESS MODEL PROVIDES SUSTAINABLE COMPETITIVE ADVANTAGES Scale through Incentives Aligned Commitment To Culture Structure Diversification With Shareholders Innovation As North America’s largest Each of our 196 operations Teamwork, accountability, buyer of softwood lumber, While in its early stages
Slide 9: Financial Goals, Objectives and Strategies
FINANCIAL GOALS, OBJECTIVES AND STRATEGIES FINANCIAL GOALS OBJECTIVES STRATEGIES STRATEGIES • Capacity Expansion / Greenfield Investments • New Customers and Verticals Unit Sales Growth 7-10% CAGR Above Market Organic Growth • Dynamic Pricing Investments in Higher Margin • New Products / Alternative
Slide 10: Value-Added Sales
VALUE-ADDED SALES Value-added as a percent of sales Commodity Value-added EBITDA Margin 69% 68% 68% 59% 60% 41% 40% 31% 32% 32% 9.7% 10.3% 8.9% 7.2% 3% 2013 2011 2019 2021 2024 2025 PalletOne and Spartanburg Forest Products acquisitions Value-added products improve mix, raise EBITDA margins 10
Slide 11: Alternative Materials Manufacturing Growth
11 ALTERNATIVE MATERIALS MANUFACTURING GROWTH Investments in value-added adjacencies add to TAM Core/Historical Current state/Future scaling growth via capex and M&A CONSTRUCTION Wood Components Light Gauge Metal Components Aluminum Balconies and accessories RETAIL Pressure-Treated Lumber Deckorator
Slide 12: Innovation and New Products
INNOVATION AND NEW PRODUCTS UFP VENTURE FUND In 2022 we launched our In 2023 we started the Innovation Accelerator to: UFP Venture Fund to: Spur external growth through Bring new products and services to late-stage development and early-stage market faster commercialization opportunities Empower ent
Slide 13: Business Segments
BUSINESS SEGMENTS 2025 Net Sales 2025 Net Sales 2025 Net Sales Site Built $714 Million ProWood Group Structural Packaging $2.0 Billion $999 Million Factory Built $838 Million Deckorators PalletOne $2.4B $300 Million $1.6B $522 Million $2.0B Commercial $266 Million UFP Edge Protective Packaging Concr
Slide 14: Retail Solutions: Treated & Deck Specialties, Fence, Lawn & Garden
TREATED & FENCE, LAWN BUILDING DECK SPECALTIES & GARDEN MATERIALS Wood- and mineral-based Premium siding, Pressure-treated lumber, Wood and vinyl fence, ProWood FR, project panels, composite decking, railing pattern, trim; interior decking, handrail, stairs, planters, garden beds, short boards & dim
Slide 15: Structural Packaging, PalletOne, Protective Packaging
Structural Packaging PalletOne Protective Packaging Wood, steel, foam and corrugated for mixed material crates Machine-built pallets; design, Corrugated conversion, stretch/shrink films, labels, and specialty containers; hard cases, lumber processing, engineering and testing strapping, hardware and
Slide 16: Site-Built, Factory-Built, Commercial, Concrete Forming
Site-Built Factory-Built Commercial Concrete Forming Roof trusses, wall panels, floor Floor, wall and roof panels, cabinet Turnkey project management of Offsite prefabrication of value-add systems and framing services for components, countertops and consumer environment and formwork, aluminum horizo
Slide 17: Segment Demand and Forward Outlook
SEGMENT DEMAND AND FORWARD OUTLOOK MACRO DRIVERS • Repair and remodel activity • PMI • Affordability challenges remain • Aged housing stock • Durable Goods • Housing shortage • Housing turnover • Industrial Production • Mortgage rates • Home equity at historic highs, • Demand decrease across most •
Slide 18: Sustainability Continuum
SUSTAINABILITY CONTINUUM We believe profitability, asset values and shareholder return are optimized by acting responsibly, and that our investors experience higher sustainable returns when we support our customers, employees and communities. Our views on ESG and maintaining a sustainable enterprise
Slide 19: Financials
FINANCIALS @§) UFP INDUSTRIES
Slide 20: Our Performance
OUR PERFORMANCE Net Sales Adjusted EBITDA Adjusted EBITDA Margin $ in Millions 2019 31% 2022 2% (1)% (3)% (16)% 6% (9)% 19% (26)% (17)% 2023 $4,416 $9,627 $7,218 $6,652 $6,320 $317 $1,097 $810 $682 $564 7.2% 11.4% 11.2% 10.3% 8.9% Net Earnings (ACI) ROIC Capital Resources 2024 Liquidity 2025 $960 29
Slide 21: Managing Lumber Market Risk
MANAGING LUMBER MARKET RISK 50% 50% Level of lumber prices does 39.9% Lumber Market Volatility* not drive profitability 40% 40% Adjusted EBITDA Margin Sequential trends impact 30% 30% profit per unit 20% 20% Balanced mix of variable and fixed- 11.4% 11.2% 10.3% 8.9% price products mitigate risk 10%
Slide 22: Net Sales (in millions)
NET SALES (in millions) UFP Consolidated UFP Retail Solutions $9,627 $3,771 $2,956 $7,218 $6,652 $6,320 $2,598 $2,434 $4,416 2% $1,499 6% (1)% (3)% 0% 10% 5% 10% (6)% (7)% (7)% (1)% (9)% (1)% (3)% (3)% (10)% (6)% (7)% (7)% 2019 2022 2023 2024 2025 2019 2022 2023 2024 2025 UFP Packaging UFP Construct
Slide 23: Adjusted EBITDA (in millions)
ADJUSTED EBITDA (in millions) UFP Consolidated UFP Retail Solutions $1,097 $221 $217 $208 $810 $164 $682 $564 8.5% 11.4% 11.2% 7.0% 6.8% 10.3% 8.9% $75 5.8% $317 7.2% 5.0% 2019 2022 2023 2024 2025 2019 2022 2023 2024 2025 UFP Packaging UFP Construction $422 $376 $272 $244 $208 15.7% $159 $158 13.3%
Slide 24: Adjusted EBITDA and Unit Sales Growth
ADJUSTED EBITDA AND UNIT SALES GROWTH UFP Consolidated UFP Retail Solutions 60% 60% 40% 31% 40% Percent Growth Percent Growth 19% 10% 20% 20% 2% 10% 6% (1)% (3)% (4)% 0% 6% (9)% 0% 18% (7)% 0% -20% (16)% (6)% (7)% (26)% (17)% -20% (26)% -40% -40% 2019 2022 2023 2024 2025 2019 2022 2023 2024 2025 UFP
Slide 25: Balanced Use of Free Cash Flow
BALANCED USE OF FREE CASH FLOW Operating Cash Flow and Capital Allocation Acquisitions to contribute (in millions) half of our total annual Acquisitions unit sales growth Capex Share Buyback $18 Dividends CapEx plan of $300M to $350M in 2026 OCF $269 Opportunistic share repurchases and to offset iss
Slide 26: Return on Invested Capital
RETURN ON INVESTED CAPITAL 40% 34.6% 35% 30% 25% 22.2% Percent 20% 18.3% 14.9% 15% 13.2% Hurdle Rate = 15% 10% WACC = 10% 5% 0% 2019 2022 2023 2024 2025 Long-Term Goal: Earn an incremental return on new investment greater than our hurdle rate Non-GAAP Financial Information: Please visit ufpinvestor.
Slide 27: Recent Acquisitions
RECENT ACQUISITIONS Process Purpose Goal Identify attractive growth runways in Find new products and services to Achieve scale and synergy targets to each Business Unit under each Business speed our transformation from optimize growth, margins and returns. Segment and identify gaps in our commodity
Slide 28: Capital Structure
CAPITAL STRUCTURE Net Debt to Total Capitalization Net Debt to Adjusted EBITDA vs Maximum Target vs Maximum Target 45% 2.5 40% 35% 2.0 30% 1.5 Percent 25% 20% 1.0 15% 10% 0.5 5% 0.0% 0.0% 0.0% 0.0% 0.0% - - - - - 0% 0.0 2019 2022 2023 2024 2025 2019 2022 2023 2024 2025 Net Debt to Total Capital Max
Slide 29: Stock Performance
STOCK PERFORMANCE Long-term returns on UFPI stock are consistently above the proxy peers and major market indices Annualized Stock Return 25% 20% 18.4% 15.7% 13.9% 15% 12.5% 10.9% 10.2% 10% 11.5% 5.4% 8.1% Annual % Return 5% 3.9% 5.2% 3.4% 4.8% 0% -5% -10% -8.0% -15% -20.3% -20% -25% 1 Year 3 Year 5
Slide 30: Quarterly Results
QUARTERLY RESULTS @) UFP INDUSTRIES
Slide 31: Net Sales Q4 2025 (in millions)
NET SALES Q4 2025 (in millions) UFP Consolidated UFP Retail Solutions $1,835 $1,596 $788 $1,462 $1,560 $1,330 $607 $594 0% $525 (2)% $444 0% (3)% (1)%* (4)% (4)% (2)% (7)% (6)% (3)% (4)% (7)% (1)%* (4)% (7)% (6)% (13)% (7)% (13)% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2024 Q1 2025 Q2 2025 Q3 202
Slide 32: Adjusted EBITDA Q4 2025 (in millions)
ADJUSTED EBITDA Q4 2025 (in millions) UFP Consolidated UFP Retail Solutions $64 $174 $133 $142 $140 $44 $40 $107 $36 8.4% 8.1% 9.5% $25 9.1% 6.7% 8.9% 9.0% 5.9% 5.5% 8.1% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 UFP Packaging UFP Construction $38 $39 $45 $45 $4
Slide 33: Thank You
THANK YOU 2801 E. Beltline Ave. NE Grand Rapids, MI 49525 (800) 598-9663 - UFPI.com 33