Universal Forest Products, Inc.

Page 1



Exhibit 99(a)


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News release


---------------AT THE COMPANY---------------

Lynn Afendoulis

Director, Corporate Communications

(616) 365-1502



Tuesday, October 16, 2018




UFPI posts record third-quarter earnings and sales
-  Sales up 15 percent, net earnings up 22 percent over previous year  -


GRAND RAPIDS, Mich., Tuesday, October 16, 2018 – Universal Forest Products, Inc. (Nasdaq: UFPI) today reported record financial results for the third quarter ended September 29, 2018, the thirteenth consecutive quarter in which the company has reported records in both net sales and net earnings.

“I want to thank the hard-working employees of Universal for once again producing record results, driven by strong unit sales growth of 7 percent and overall sales growth of 15 percent,” stated CEO Matt Missad. “We achieved these results despite the headwinds we experienced from a quickly changing lumber market, rising labor, benefit and transportation costs, and the short-term effects of Hurricane Florence.

“While we are pleased to report a record quarter, we know we can do better. We are improving our mix of value-added new products, investing in automation to address rising costs and improving performance at underperforming operations.”

Third Quarter 2018 Highlights (comparisons on a year-over-year basis):


Diluted earnings per share were $0.66, up from $0.55


Net earnings attributable to controlling interest were $41.2 million, up 22 percent


Net sales were $1.2 billion, up 15 percent


EBITDA was $72.9 million, up 9 percent


Gross sales increased 17 percent in the Construction market, 15 percent in the Industrial market and 13 percent in the Retail market


Unit sales contributed 7 percent of gross sales growth; higher prices due to the lumber market contributed 8 percent




The following information was filed by Universal Forest Products Inc (UFPI) on Tuesday, October 16, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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