Universal Forest Products Q2 Profit Rises, Beats estimates

(RTTNews) - Universal Forest Products (UFPI) released earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $207.8 million, or $3.23 per share. This compares with $175.4 million, or $2.78 per share, in last year's second quarter.

Analysts on average had expected the company to earn $2.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 89.3% to $2.9 billion from $27 billion last year.

Universal Forest Products earnings at a glance (GAAP) :

-Earnings (Q2): $207.8 Mln. vs. $175.4 Mln. last year. -EPS (Q2): $3.23 vs. $2.78 last year. -Analyst Estimate: $2.41 -Revenue (Q2): $2.9 Bln vs. $27 Bln last year.