2019 Q3 Form 10-Q Financial Statement

#000155837020011874 Filed on October 28, 2020

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2
Revenue $1.163B $1.240B
YoY Change -4.1% -4.22%
Cost Of Revenue $975.8M $1.053B
YoY Change -7.43% -6.7%
Gross Profit $187.3M $186.7M
YoY Change 18.02% 12.7%
Gross Profit Margin 16.1% 15.06%
Selling, General & Admin $116.0M $112.9M
YoY Change 12.91% 7.93%
% of Gross Profit 61.92% 60.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.30M $15.70M
YoY Change 8.13% 5.37%
% of Gross Profit 9.24% 8.41%
Operating Expenses $116.0M $112.9M
YoY Change 12.91% 7.93%
Operating Profit $70.47M $74.24M
YoY Change 23.65% 22.47%
Interest Expense $1.900M $2.407M
YoY Change -2.31% 7.07%
% of Operating Profit 2.7% 3.24%
Other Income/Expense, Net
YoY Change
Pretax Income $68.98M $72.51M
YoY Change 24.83% 23.85%
Income Tax $16.40M $17.37M
% Of Pretax Income 23.77% 23.95%
Net Earnings $51.86M $54.52M
YoY Change 25.81% 23.77%
Net Earnings / Revenue 4.46% 4.4%
Basic Earnings Per Share $0.84 $0.88
Diluted Earnings Per Share $0.84 $0.88
COMMON SHARES
Basic Shares Outstanding 60.17M 60.13M
Diluted Shares Outstanding 60.20M 60.15M

Balance Sheet

Concept 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.50M $37.30M
YoY Change 93.59% -11.19%
Cash & Equivalents $64.50M $20.50M
Short-Term Investments $17.00M $16.80M
Other Short-Term Assets $54.30M $46.87M
YoY Change 83.58% 53.85%
Inventory $479.4M $528.7M
Prepaid Expenses
Receivables $474.6M $483.3M
Other Receivables $1.500M $0.00
Total Short-Term Assets $1.092B $1.097B
YoY Change 4.32% -1.4%
LONG-TERM ASSETS
Property, Plant & Equipment $385.0M $368.6M
YoY Change 11.17% 8.18%
Goodwill $232.4M $225.3M
YoY Change 6.3% 2.58%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.09M $23.33M
YoY Change 227.35% 229.44%
Total Long-Term Assets $788.5M $753.6M
YoY Change 25.1% 20.76%
TOTAL ASSETS
Total Short-Term Assets $1.092B $1.097B
Total Long-Term Assets $788.5M $753.6M
Total Assets $1.881B $1.851B
YoY Change 12.13% 6.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $180.8M $189.6M
YoY Change 2.76% -3.93%
Accrued Expenses $197.9M $158.9M
YoY Change 35.46% 18.41%
Deferred Revenue $6.666M $5.222M
YoY Change 34.53% 13.13%
Short-Term Debt $0.00 $25.00M
YoY Change -100.0% -25.6%
Long-Term Debt Due $152.0K $173.0K
YoY Change 2.01% -68.08%
Total Short-Term Liabilities $385.4M $379.6M
YoY Change 7.58% 2.49%
LONG-TERM LIABILITIES
Long-Term Debt $162.9M $187.5M
YoY Change -12.7% -32.14%
Other Long-Term Liabilities $28.45M $29.70M
YoY Change 5.66% 4.58%
Total Long-Term Liabilities $191.3M $217.2M
YoY Change -10.38% -28.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $385.4M $379.6M
Total Long-Term Liabilities $191.3M $217.2M
Total Liabilities $651.5M $667.4M
YoY Change 11.29% -3.12%
SHAREHOLDERS EQUITY
Retained Earnings $969.6M $917.7M
YoY Change 15.23% 14.68%
Common Stock $61.39M $61.37M
YoY Change -0.43% -0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.215B $1.167B
YoY Change
Total Liabilities & Shareholders Equity $1.881B $1.851B
YoY Change 12.13% 6.57%

Cashflow Statement

Concept 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $51.86M $54.52M
YoY Change 25.81% 23.77%
Depreciation, Depletion And Amortization $17.30M $15.70M
YoY Change 8.13% 5.37%
Cash From Operating Activities $127.2M $126.7M
YoY Change 32.22% 163.41%
INVESTING ACTIVITIES
Capital Expenditures -$23.80M -$26.60M
YoY Change 17.82% -11.04%
Acquisitions
YoY Change
Other Investing Activities -$34.30M -$5.600M
YoY Change 1391.3% -83.77%
Cash From Investing Activities -$58.30M -$32.10M
YoY Change 159.11% -50.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -24.90M -91.40M
YoY Change -72.64% -2956.25%
NET CHANGE
Cash From Operating Activities 127.2M 126.7M
Cash From Investing Activities -58.30M -32.10M
Cash From Financing Activities -24.90M -91.40M
Net Change In Cash 44.00M 3.200M
YoY Change -354.34% -124.43%
FREE CASH FLOW
Cash From Operating Activities $127.2M $126.7M
Capital Expenditures -$23.80M -$26.60M
Free Cash Flow $151.0M $153.3M
YoY Change 29.73% 96.54%

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RevenueChangeInRevenuePercentage
0.285
ufpi Revenue From Contract With Customer Including Assessed Tax Gross
RevenueFromContractWithCustomerIncludingAssessedTaxGross
3480142000
ufpi Revenue Change In Revenue Percentage
RevenueChangeInRevenuePercentage
0.105
CY2020Q3 ufpi Sales Allowances
SalesAllowances
35830000
CY2019Q3 ufpi Sales Allowances
SalesAllowances
21004000
CY2020Q3 ufpi Sales Allowances Change Percentage Period Over Period
SalesAllowancesChangePercentagePeriodOverPeriod
0.706
ufpi Sales Allowances
SalesAllowances
85982000
ufpi Sales Allowances
SalesAllowances
62173000
ufpi Sales Allowances Change Percentage Period Over Period
SalesAllowancesChangePercentagePeriodOverPeriod
0.383
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1486227000
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1163026000
CY2020Q3 ufpi Net Revenue Change Percentage Period Over Period
NetRevenueChangePercentagePeriodOverPeriod
0.278
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3760290000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3417969000
ufpi Net Revenue Change Percentage Period Over Period
NetRevenueChangePercentagePeriodOverPeriod
0.100
CY2020Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
4130000
CY2019Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
4690000
CY2019Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
6815000
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
11264000
CY2020Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
61548000
CY2019Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6666000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
77204000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
51859000
CY2019Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
61717000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
61642000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
61609000
CY2020Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1750000
CY2019Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1546000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1713000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1540000
us-gaap Net Income Loss
NetIncomeLoss
183826000
us-gaap Net Income Loss
NetIncomeLoss
141914000
CY2020Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
2195000
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1299000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
5110000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3547000
CY2020Q3 us-gaap Undistributed Earnings
UndistributedEarnings
75009000
CY2019Q3 us-gaap Undistributed Earnings
UndistributedEarnings
50560000
us-gaap Undistributed Earnings
UndistributedEarnings
178716000
us-gaap Undistributed Earnings
UndistributedEarnings
138367000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59798000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60171000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59929000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60069000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
20000
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
24000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
19000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
22000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59818000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60195000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59948000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60091000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.25
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.84
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.98
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.30
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.25
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.98
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.30
CY2020Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
1900000
CY2019Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
2000000.0
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
21300000
CY2020Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
43800000
CY2020Q3 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
10800000
CY2020Q3 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
200000
us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
17800000
us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
1500000
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1486227000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
106601000
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1163026000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
70467000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3760290000
us-gaap Operating Income Loss
OperatingIncomeLoss
257591000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3417969000
us-gaap Operating Income Loss
OperatingIncomeLoss
193150000
CY2019Q4 us-gaap Goodwill
Goodwill
229536000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
16502000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
204000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-317000
CY2020Q3 us-gaap Goodwill
Goodwill
245925000
CY2020Q3 us-gaap Assets
Assets
2350620000
CY2019Q4 us-gaap Assets
Assets
1889477000
CY2020Q3 ufpi Percentage Change In Assets
PercentageChangeInAssets
0.244
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.254
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.238
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.252
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.240
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
38.62

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