UFP INDUSTRIES, INC. NON-GAAP DISCLOSURE CALCULATIONS
CONSOLIDATED: | ||||||||||||||||
Q3 2022 TTM | Q3 2022 YTD | Q3 2022 QTD | Q3 2021 YTD | Q3 2021 QTD | Q2 2022 QTD | Q1 2022 QTD | Q4 2021 QTD | |||||||||
Net earnings | $ | 720,091 | $ | 573,085 | $ | 172,101 | $ | 405,358 | $ | 125,747 | 207,853 | 193,131 | 147,006 | |||
Interest expense | 13,544 | 10,213 | 3,516 | 10,483 | 3,433 | 3,395 | 3,302 | 3,331 | ||||||||
Interest and investment expense (income), net | 4,022 | 6,905 | 1,658 | (3,615) | 370 | 4,154 | 1,093 | (2,883) | ||||||||
Taxes | 234,755 | 188,692 | 58,561 | 127,909 | 37,628 | 69,147 | 60,984 | 46,063 | ||||||||
Expense associated with share-based compensation arrangements | 22,759 | 19,979 | 7,437 | 8,444 | 2,702 | 5,611 | 6,931 | 2,780 | ||||||||
Net (gain) loss on sale or impairment of property, plant & equipment | (1,158) | 352 | (414) | (10,482) | (8,905) | 1,072 | (306) | (1,510) | ||||||||
Equity in loss in investee | 4,231 | 2,740 | 1,208 | 2,411 | 946 | 1,017 | 515 | 1,491 | ||||||||
Depreciation expense | 91,324 | 68,881 | 24,847 | 61,741 | 23,399 | 22,192 | 21,842 | 22,443 | ||||||||
Amortization of intangibles | 18,027 | 13,448 | 4,708 | 9,369 | 2,176 | 4,068 | 4,672 | 4,579 | ||||||||
ADJUSTED EBITDA | $ | 1,107,595 | $ | 884,295 | $ | 273,622 | $ | 611,618 | $ | 187,496 | $ | 318,509 | $ | 292,164 | $ | 223,300 |
Net sales | 9,729,847 | 7,713,042 | 2,322,855 | 6,619,329 | 2,093,784 | 2,900,874 | 2,489,313 | 2,016,805 | ||||||||
ADJUSTED EBITDA MARGIN | 11.4% | 11.5% | 11.8% | 9.2% | 9.0% | 11.0% | 11.7% | 11.1% | ||||||||
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 loss 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: | ||||||||||||||||
Q3 2022 TTM | Q3 2022 YTD | Q3 2022 QTD | Q3 2021 YTD | Q3 2021 QTD | Q2 2022 QTD | Q1 2022 QTD | Q4 2021 QTD | |||||||||
Net earnings | $ | 121,404 | $ | 93,888 | $ | 21,496 | $ | 67,384 | $ | (19,535) | 18,146 | 54,246 | 27,516 | |||
Interest expense | 161 | 60 | 19 | (3) | (3) | 17 | 24 | 101 | ||||||||
Taxes | 39,540 | 30,913 | 7,420 | 21,263 | (6,801) | 6,364 | 17,129 | 8,627 | ||||||||
Expense associated with share-based compensation arrangements | 3,988 | 3,323 | 1,041 | 2,082 | 622 | 1,061 | 1,221 | 665 | ||||||||
Net loss (gain) on sale or impairment of property, plant & equipment | 666 | 617 | 86 | (47) | 63 | 226 | 305 | 49 | ||||||||
Depreciation expense | 18,483 | 13,813 | 4,821 | 12,285 | 4,146 | 4,556 | 4,436 | 4,670 | ||||||||
Amortization of intangibles | 3,977 | 2,742 | 943 | 1,545 | 333 | 916 | 883 | 1,235 | ||||||||
ADJUSTED EBITDA | $ | 188,219 | $ | 145,356 | $ | 35,826 | $ | 104,509 | $ | (21,175) | $ | 31,286 | $ | 78,244 | $ | 42,863 |
Net sales | 3,663,873 | 2,959,976 | 845,304 | 2,714,440 | 696,201 | 1,121,440 | 993,232 | 703,897 | ||||||||
ADJUSTED EBITDA MARGIN | 5.1% | 4.9% | 4.2% | 3.9% | -3.0% | 2.8% | 7.9% | 6.1% | ||||||||
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: | ||||||||||||||||
Q3 2022 TTM | Q3 2022 YTD | Q3 2022 QTD | Q3 2021 YTD | Q3 2021 QTD | Q2 2022 QTD | Q1 2022 QTD | Q4 2021 QTD | |||||||||
Net earnings | $ | 246,823 | $ | 188,954 | $ | 56,777 | $ | 143,626 | $ | 53,723 | $ | 69,949 | 62,228 | 57,869 | ||
Interest expense | (1) | (3) | 1 | 10 | (1) | (1) | (3) | 2 | ||||||||
Taxes | 80,357 | 62,214 | 19,319 | 45,320 | 16,292 | 23,245 | 19,650 | 18,143 | ||||||||
Expense associated with share-based compensation arrangements | 4,456 | 3,842 | 1,198 | 1,906 | 599 | 1,236 | 1,408 | 614 | ||||||||
Net loss (gain) on sale or impairment of property, plant & equipment | 516 | 620 | 13 | 104 | 280 | 672 | (65) | (104) | ||||||||
Equity in loss in investee | 4,231 | 2,740 | 1,208 | 2,411 | 946 | 1,017 | 515 | 1,491 | ||||||||
Depreciation expense | 29,291 | 22,497 | 8,931 | 19,425 | 8,889 | 6,759 | 6,807 | 6,794 | ||||||||
Amortization of intangibles | 7,945 | 5,773 | 2,357 | 3,921 | 1,362 | 1,701 | 1,715 | 2,172 | ||||||||
ADJUSTED EBITDA | $ | 373,618 | $ | 286,637 | $ | 89,804 | $ | 216,723 | $ | 82,090 | $ | 104,578 | $ | 92,255 | $ | 86,981 |
Net sales | 2,387,363 | 1,872,510 | 584,808 | 1,633,289 | 573,234 | 676,333 | 611,369 | 514,854 | ||||||||
ADJUSTED EBITDA MARGIN | 15.6% | 15.3% | 15.4% | 13.3% | 14.3% | 15.5% | 15.1% | 16.9% | ||||||||
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 loss 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: | ||||||||||||||||
Q3 2022 TTM | Q3 2022 YTD | Q3 2022 QTD | Q3 2021 YTD | Q3 2021 QTD | Q2 2022 QTD | Q1 2022 QTD | Q4 2021 QTD | |||||||||
Net earnings | $ | 302,543 | $ | 242,270 | $ | 82,477 | $ | 140,675 | $ | 64,841 | $ | 99,890 | 59,903 | 60,273 | ||
Interest expense | - | - | - | 1 | 1 | - | - | - | ||||||||
Taxes | 98,670 | 79,769 | 27,911 | 44,389 | 19,903 | 32,943 | 18,915 | 18,901 | ||||||||
Expense associated with share-based compensation arrangements | 4,264 | 3,697 | 1,090 | 1,885 | 575 | 1,143 | 1,464 | 567 | ||||||||
Net loss (gain) on sale or impairment of property, plant & equipment | 686 | 62 | 86 | (624) | (756) | (13) | (11) | 624 | ||||||||
Depreciation expense | 13,600 | 10,101 | 3,313 | 9,652 | 3,323 | 3,354 | 3,434 | 3,499 | ||||||||
Amortization of intangibles | 3,283 | 2,481 | 797 | 2,723 | 178 | 820 | 864 | 802 | ||||||||
ADJUSTED EBITDA | $ | 423,046 | $ | 338,380 | $ | 115,674 | $ | 198,701 | $ | 88,065 | $ | 138,137 | $ | 84,569 | $ | 84,666 |
Net sales | 3,216,301 | 2,538,973 | 777,126 | 2,021,106 | 722,872 | 975,376 | 786,471 | 677,326 | ||||||||
ADJUSTED EBITDA MARGIN | 13.2% | 13.3% | 14.9% | 9.8% | 12.2% | 14.2% | 10.8% | 12.5% | ||||||||
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: | ||||||||||||||||
Q3 2022 TTM | Q3 2022 YTD | Q3 2022 QTD | Q3 2021 YTD | Q3 2021 QTD | Q2 2022 QTD | Q1 2022 QTD | Q4 2021 QTD | |||||||||
Net earnings | $ | 49,321 | $ | 47,973 | $ | 11,351 | $ | 53,673 | $ | 26,718 | $ | 19,868 | 16,754 | 1,348 | ||
Interest expense | 13,384 | 10,156 | 3,496 | 10,475 | 3,436 | 3,379 | 3,281 | 3,228 | ||||||||
Interest and investment expense (income), net | 4,022 | 6,905 | 1,658 | (3,615) | 370 | 4,154 | 1,093 | (2,883) | ||||||||
Taxes | 16,188 | 15,796 | 3,911 | 16,937 | 8,234 | 6,595 | 5,290 | 392 | ||||||||
Expense associated with share-based compensation arrangements | 10,051 | 9,117 | 4,108 | 2,571 | 906 | 2,171 | 2,838 | 934 | ||||||||
Net (gain) loss on sale or impairment of property, plant & equipment | (3,026) | (947) | (599) | (9,915) | (8,492) | 187 | (535) | (2,079) | ||||||||
Depreciation expense | 29,950 | 22,470 | 7,782 | 20,379 | 7,041 | 7,523 | 7,165 | 7,480 | ||||||||
Amortization of intangibles | 2,822 | 2,452 | 611 | 1,180 | 303 | 631 | 1,210 | 370 | ||||||||
ADJUSTED EBITDA | $ | 122,712 | $ | 113,922 | $ | 32,318 | $ | 91,685 | $ | 38,516 | $ | 44,508 | $ | 37,096 | $ | 8,790 |
Net sales | 462,310 | 341,583 | 115,617 | 250,494 | 101,477 | 127,725 | 98,241 | 120,728 | ||||||||
ADJUSTED EBITDA MARGIN | 26.5% | 33.4% | 28.0% | 36.6% | 38.0% | 34.8% | 37.8% | 7.3% | ||||||||
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 17 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2022 17:08:03 UTC.
