Universal Forest Products Q2 Results Miss Estimates

(RTTNews) - Universal Forest Products, Inc. (UFPI) reported second quarter net earnings of $21.8 million or $1.08 per share, compared to $15.8 million or $0.79 per share for the year-ago quarter.

Net sales for the second quarter rose 4.6% to $772.75 million from $738.44 million a year ago.

Analysts polled by Thomson Ruters expected the company to earn $1.32 per share on revenue of $862.98 million for the second quarter.

Universal CEO Matthew Missad said the company is on track to achieve its goals of $3 billion in sales and operating margins at normal historical levels by 2017.