UFP Industries, Inc. Q1 Income Declines, but beats estimates

(RTTNews) - UFP Industries, Inc. (UFPI) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $126.1 million, or $1.98 per share. This compares with $189.7 million, or $3.00 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 26.9% to $1.82 billion from $2.49 billion last year.

UFP Industries, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $126.1 Mln. vs. $189.7 Mln. last year. -EPS (Q1): $1.98 vs. $3.00 last year. -Analyst Estimates: $1.75 -Revenue (Q1): $1.82 Bln vs. $2.49 Bln last year.