UFP Industries Q1 2024 GAAP EPS $1.96 Beats $1.66 Estimate, Sales $1.639B Miss $1.707B Estimate
Portfolio Pulse from Benzinga Newsdesk
UFP Industries reported Q1 2024 earnings of $1.96 per share, surpassing the $1.66 estimate, but its sales of $1.639B fell short of the $1.707B forecast, marking a 10.04% decrease from the previous year.
April 30, 2024 | 12:06 pm
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NEUTRAL IMPACT
UFP Industries exceeded EPS estimates but missed sales forecasts for Q1 2024, with a notable year-over-year sales decline.
The beat on EPS estimates is positive, suggesting operational efficiency or cost control, which could support the stock price. However, the miss on sales forecasts and the significant year-over-year decline could raise concerns about revenue growth and market demand, potentially offsetting the positive EPS impact. The mixed results lead to a neutral short-term impact score.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100