UFP INDUSTRIES, INC. NON-GAAP DISCLOSURE CALCULATIONS
CONSOLIDATED: | ||||||||||||||||
Q2 2022 TTM | Q2 2022 YTD | Q2 2022 QTD | Q2 2021 YTD | Q2 2021 QTD | Q1 2022 QTD | Q4 2021 QTD | Q3 2021 QTD | |||||||||
Net earnings | $ | 673,737 | $ | 400,984 | $ | 207,853 | $ | 279,611 | $ | 175,360 | 193,131 | 147,006 | 125,747 | |||
Interest expense | 13,461 | 6,697 | 3,395 | 7,050 | 3,899 | 3,302 | 3,331 | 3,433 | ||||||||
Interest and investment expense (income), net | 2,734 | 5,247 | 4,154 | (3,985) | (1,689) | 1,093 | (2,883) | 370 | ||||||||
Taxes | 213,822 | 130,131 | 69,147 | 90,281 | 58,530 | 60,984 | 46,063 | 37,628 | ||||||||
Expense associated with share-based compensation arrangements | 18,024 | 12,542 | 5,611 | 5,742 | 2,761 | 6,931 | 2,780 | 2,702 | ||||||||
Net (gain) loss on sale or impairment of property, plant & equipment | (9,649) | 766 | 1,072 | (1,577) | (1,045) | (306) | (1,510) | (8,905) | ||||||||
Equity in earnings in investee | 3,969 | 1,532 | 1,017 | 1,465 | 835 | 515 | 1,491 | 946 | ||||||||
Depreciation expense | 89,876 | 44,034 | 22,192 | 38,342 | 19,609 | 21,842 | 22,443 | 23,399 | ||||||||
Amortization of intangibles | 15,495 | 8,740 | 4,068 | 7,193 | 3,195 | 4,672 | 4,579 | 2,176 | ||||||||
ADJUSTED EBITDA | $ | 1,021,469 | $ | 610,673 | $ | 318,509 | $ | 424,122 | $ | 261,455 | $ | 292,164 | $ | 223,300 | $ | 187,496 |
Net sales | 9,500,776 | 5,390,187 | 2,900,874 | 4,525,545 | 2,700,541 | 2,489,313 | 2,016,805 | 2,093,784 | ||||||||
ADJUSTED EBITDA MARGIN | 10.8% | 11.3% | 11.0% | 9.4% | 9.7% | 11.7% | 11.1% | 9.0% | ||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||
Net earnings | $ | 552,364 | $ | 253,882 | $ | 182,404 | $ | 152,412 | $ | 124,040 | ||||||
Interest expense | 13,814 | 9,311 | 8,700 | 8,893 | 6,218 | |||||||||||
Interest and investment (income) expense, net | (6,498) | (4,468) | (4,468) | 517 | (731) | |||||||||||
Taxes | 173,972 | 87,101 | 58,270 | 45,441 | 51,967 | |||||||||||
Expense associated with share-based compensation arrangements | 11,224 | 4,034 | 4,007 | 3,574 | 3,618 | |||||||||||
Net (gain) loss on sale or impairment of property, plant & equipment | (11,992) | 1,470 | 1,565 | (6,604) | (863) | |||||||||||
Goodwill impairment | - | 11,485 | - | - | - | |||||||||||
Gain from reduction of estimated earnout liability | - | (4,134) | - | - | - | |||||||||||
Equity in earnings in investee | 3,902 | - | - | - | - | |||||||||||
Depreciation expense | 84,184 | 63,964 | 60,494 | 54,949 | 48,536 | |||||||||||
Amortization of intangibles | 13,948 | 8,716 | 6,325 | 6,393 | 4,860 | |||||||||||
ADJUSTED EBITDA | $ | 834,918 | $ | 431,361 | $ | 317,297 | $ | 265,575 | $ | 237,645 | ||||||
Net sales | 8,636,134 | 5,153,998 | 4,416,009 | 4,489,180 | 3,941,182 | |||||||||||
ADJUSTED EBITDA MARGIN | 9.7% | 8.4% | 7.2% | 5.9% | 6.0% |
Page 1 of 6
NON-GAAP DISCLOSURE CALCULATIONS
RETAIL: | |||||||||||||
Q2 2022 TTM | Q2 2022 YTD | Q2 2022 QTD | Q2 2021 YTD | Q2 2021 QTD | Q1 2022 QTD | Q4 2021 QTD | Q3 2021 QTD | ||||||
Net earnings | $ | 80,373 | $ | 72,392 | $ | 18,146 | $ | 86,919 | $ | 46,044 | 54,246 | 27,516 | (19,535) |
Interest expense | 139 | 41 | 17 | - | - | 24 | 101 | (3) | |||||
Taxes | 25,319 | 23,493 | 6,364 | 28,064 | 15,615 | 17,129 | 8,627 | (6,801) | |||||
Expense associated with share-based compensation arrangements | 3,569 | 2,282 | 1,061 | 1,460 | 626 | 1,221 | 665 | 622 | |||||
Net loss (gain) on sale or impairment of property, plant & equipment | 643 | 531 | 226 | (110) | 7 | 305 | 49 | 63 | |||||
Depreciation expense | 17,808 | 8,992 | 4,556 | 8,139 | 4,341 | 4,436 | 4,670 | 4,146 | |||||
Amortization of intangibles | 3,367 | 1,799 | 916 | 1,212 | 575 | 883 | 1,235 | 333 | |||||
ADJUSTED EBITDA | $ | 131,218 | $ | 109,530 | $ | 31,286 | $ | 125,684 | $ | 67,208 | 78,244 | 42,863 | (21,175) |
Net sales | 3,514,770 | 2,114,672 | 1,121,440 | 2,018,239 | 1,259,218 | 993,232 | 703,897 | 696,201 | |||||
ADJUSTED EBITDA MARGIN | 3.7% | 5.2% | 2.8% | 6.2% | 5.3% | 7.9% | 6.1% | -3.0% | |||||
2021 | 2020 | 2019 | 2018 | ||||||||||
Net earnings | $ | 94,900 | $ | 115,678 | $ | 46,768 | $ | 40,220 | |||||
Interest expense | 98 | 2 | - | 1 | |||||||||
Taxes | 29,890 | 39,686 | 14,940 | 11,991 | |||||||||
Expense associated with share-based compensation arrangements | 2,747 | 1,015 | 184 | 123 | |||||||||
Net loss (gain) on sale or impairment of property, plant & equipment | 2 | 2 | 269 | (58) | |||||||||
Depreciation expense | 16,955 | 11,675 | 11,041 | 10,029 | |||||||||
Amortization of intangibles | 2,780 | 1,482 | 1,380 | 1,038 | |||||||||
ADJUSTED EBITDA | $ | 147,372 | $ | 169,540 | $ | 74,582 | $ | 63,344 | |||||
Net sales | 3,418,337 | 2,167,122 | 1,498,710 | 1,512,477 | |||||||||
ADJUSTED EBITDA MARGIN | 4.3% | 7.8% | 5.0% | 4.2% |
Page 2 of 6
NON-GAAP DISCLOSURE CALCULATIONS
INDUSTRIAL: | |||||||||||||
Q2 2022 TTM | Q2 2022 YTD | Q2 2022 QTD | Q2 2021 YTD | Q2 2021 QTD | Q1 2022 QTD | Q4 2021 QTD | Q3 2021 QTD | ||||||
Net earnings | $ | 243,769 | $ | 132,177 | $ | 69,949 | $ | 89,903 | $ | 59,241 | 62,228 | 57,869 | 53,723 |
Interest expense | (3) | (4) | (1) | 11 | 5 | (3) | 2 | (1) | |||||
Taxes | 77,330 | 42,895 | 23,245 | 29,028 | 19,690 | 19,650 | 18,143 | 16,292 | |||||
Expense associated with share-based compensation arrangements | 3,857 | 2,644 | 1,236 | 1,307 | 599 | 1,408 | 614 | 599 | |||||
Net loss (gain) on sale or impairment of property, plant & equipment | 783 | 607 | 672 | (176) | 22 | (65) | (104) | 280 | |||||
Equity in earnings in investee | 3,969 | 1,532 | 1,017 | 1,465 | 835 | 515 | 1,491 | 946 | |||||
Depreciation expense | 29,249 | 13,566 | 6,759 | 10,536 | 5,121 | 6,807 | 6,794 | 8,889 | |||||
Amortization of intangibles | 6,950 | 3,416 | 1,701 | 2,559 | 1,295 | 1,715 | 2,172 | 1,362 | |||||
ADJUSTED EBITDA | $ | 365,904 | $ | 196,833 | $ | 104,578 | $ | 134,633 | $ | 86,808 | 92,255 | 86,981 | 82,090 |
Net sales | 2,375,790 | 1,287,702 | 676,333 | 1,060,054 | 611,181 | 611,369 | 514,854 | 573,234 | |||||
ADJUSTED EBITDA MARGIN | 15.4% | 15.3% | 15.5% | 12.7% | 14.2% | 15.1% | 16.9% | 14.3% | |||||
2021 | 2020 | 2019 | 2018 | ||||||||||
Net earnings | $ | 201,495 | $ | 62,119 | $ | 62,839 | $ | 45,760 | |||||
Interest expense | 12 | 22 | 108 | 191 | |||||||||
Taxes | 63,463 | 21,312 | 20,074 | 13,643 | |||||||||
Expense associated with share-based compensation arrangements | 2,520 | 1,038 | - | - | |||||||||
Net loss (gain) on sale or impairment of property, plant & equipment | - | 261 | 481 | (640) | |||||||||
Gain from reduction of estimated earnout liability | - | (4,134) | - | - | |||||||||
Equity in earnings in investee | 3,902 | - | - | - | |||||||||
Depreciation expense | 26,219 | 15,163 | 14,340 | 13,026 | |||||||||
Amortization of intangibles | 6,093 | 4,159 | 3,034 | 3,055 | |||||||||
ADJUSTED EBITDA | $ | 303,704 | $ | 99,940 | $ | 100,876 | $ | 75,035 | |||||
Net sales | 2,148,142 | 1,072,117 | 1,085,635 | 1,050,945 | |||||||||
ADJUSTED EBITDA MARGIN | 14.1% | 9.3% | 9.3% | 7.1% |
Page 3 of 6
NON-GAAP DISCLOSURE CALCULATIONS
CONSTRUCTION: | |||||||||||||
Q2 2022 TTM | Q2 2022 YTD | Q2 2022 QTD | Q2 2021 YTD | Q2 2021 QTD | Q1 2022 QTD | Q4 2021 QTD | Q3 2021 QTD | ||||||
Net earnings | $ | 284,907 | $ | 159,793 | $ | 99,890 | $ | 75,834 | $ | 50,525 | 59,903 | 60,273 | 64,841 |
Interest expense | 1 | - | - | - | - | - | - | 1 | |||||
Taxes | 90,662 | 51,858 | 32,943 | 24,486 | 16,778 | 18,915 | 18,901 | 19,903 | |||||
Expense associated with share-based compensation arrangements | 3,749 | 2,607 | 1,143 | 1,310 | 569 | 1,464 | 567 | 575 | |||||
Net (gain) loss on sale or impairment of property, plant & equipment | (156) | (24) | (13) | 132 | 155 | (11) | 624 | (756) | |||||
Depreciation expense | 13,610 | 6,788 | 3,354 | 6,329 | 3,132 | 3,434 | 3,499 | 3,323 | |||||
Amortization of intangibles | 2,664 | 1,684 | 820 | 2,545 | 819 | 864 | 802 | 178 | |||||
ADJUSTED EBITDA | $ | 395,437 | $ | 222,706 | $ | 138,137 | $ | 110,636 | $ | 71,978 | 84,569 | 84,666 | 88,065 |
Net sales | 3,162,046 | 1,761,847 | 975,376 | 1,298,235 | 738,704 | 786,471 | 677,326 | 722,872 | |||||
ADJUSTED EBITDA MARGIN | 12.5% | 12.6% | 14.2% | 8.5% | 9.7% | 10.8% | 12.5% | 12.2% | |||||
2021 | 2020 | 2019 | 2018 | ||||||||||
Net earnings | $ | 200,948 | $ | 51,443 | $ | 62,455 | $ | 54,873 | |||||
Interest expense | 1 | - | 16 | 202 | |||||||||
Taxes | 63,290 | 17,649 | 19,952 | 16,361 | |||||||||
Expense associated with share-based compensation arrangements | 2,452 | 1,407 | 22 | - | |||||||||
Net loss on sale or impairment of property, plant & equipment | - | 1,889 | 1,037 | 1,383 | |||||||||
Goodwill impairment | - | 11,485 | - | - | |||||||||
Depreciation expense | 13,151 | 12,123 | 11,465 | 10,414 | |||||||||
Amortization of intangibles | 3,525 | 2,152 | 1,164 | 1,443 | |||||||||
ADJUSTED EBITDA | $ | 283,367 | $ | 98,148 | $ | 96,111 | $ | 84,676 | |||||
Net sales | 2,698,434 | 1,695,683 | 1,637,156 | 1,705,016 | |||||||||
ADJUSTED EBITDA MARGIN | 10.5% | 5.8% | 5.9% | 5.0% |
Page 4 of 6
NON-GAAP DISCLOSURE CALCULATIONS
ALL OTHER: | |||||||||||||
Q2 2022 TTM | Q2 2022 YTD | Q2 2022 QTD | Q2 2021 YTD | Q2 2021 QTD | Q1 2022 QTD | Q4 2021 QTD | Q3 2021 QTD | ||||||
Net earnings | $ | 64,688 | $ | 36,622 | $ | 19,868 | $ | 26,955 | $ | 19,550 | 16,754 | 1,348 | 26,718 |
Interest expense | 13,324 | 6,660 | 3,379 | 7,039 | 3,894 | 3,281 | 3,228 | 3,436 | |||||
Interest and investment expense (income), net | 2,734 | 5,247 | 4,154 | (3,985) | (1,689) | 1,093 | (2,883) | 370 | |||||
Taxes | 20,511 | 11,885 | 6,595 | 8,703 | 6,447 | 5,290 | 392 | 8,234 | |||||
Expense associated with share-based compensation arrangements | 6,849 | 5,009 | 2,171 | 1,665 | 967 | 2,838 | 934 | 906 | |||||
Net (gain) loss on sale or impairment of property, plant & equipment | (10,919) | (348) | 187 | (1,423) | (1,229) | (535) | (2,079) | (8,492) | |||||
Depreciation expense | 29,209 | 14,688 | 7,523 | 13,338 | 7,015 | 7,165 | 7,480 | 7,041 | |||||
Amortization of intangibles | 2,514 | 1,841 | 631 | 877 | 506 | 1,210 | 370 | 303 | |||||
ADJUSTED EBITDA | $ | 128,910 | $ | 81,604 | $ | 44,508 | $ | 53,169 | $ | 35,461 | 37,096 | 8,790 | 38,516 |
Net sales | 448,170 | 225,966 | 127,725 | 149,017 | 91,438 | 98,241 | 120,728 | 101,477 | |||||
ADJUSTED EBITDA MARGIN | 28.8% | 36.1% | 34.8% | 35.7% | 38.8% | 37.8% | 7.3% | 38.0% | |||||
2021 | 2020 | 2019 | 2018 | ||||||||||
Net earnings | $ | 55,021 | $ | 24,642 | $ | 10,342 | $ | 11,559 | |||||
Interest expense | 13,703 | 9,287 | 8,576 | 8,499 | |||||||||
Interest and investment (income) expense, net | (6,498) | (4,468) | (4,468) | 517 | |||||||||
Taxes | 17,329 | 8,454 | 3,304 | 3,446 | |||||||||
Expense associated with share-based compensation arrangements | 3,505 | 574 | 3,801 | 3,451 | |||||||||
Net gain on sale or impairment of property, plant & equipment | (11,994) | (682) | (222) | (7,289) | |||||||||
Depreciation expense | 27,859 | 25,003 | 23,648 | 21,480 | |||||||||
Amortization of intangibles | 1,550 | 923 | 747 | 857 | |||||||||
ADJUSTED EBITDA | $ | 100,475 | $ | 63,733 | $ | 45,728 | $ | 42,520 | |||||
Net sales | 371,221 | 219,076 | 194,508 | 220,742 | |||||||||
ADJUSTED EBITDA MARGIN | 27.1% | 29.1% | 23.5% | 19.3% |
Page 5 of 6
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UFP Industries Inc. published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 21:19:49 UTC.
