UFP Industries Q3 Profit Falls to $58.6 Million Despite 11.1% Revenue Growth

UFP Industries, Inc. (UFPI) reported third-quarter earnings fell to $58.633 million, or $1.05 per share, down from $75.542 million, or $1.29 per share, in the same period last year. Revenue for the quarter rose 11.1% to $1.732 billion from $1.559 billion a year earlier, according to the company's GAAP results. The profit decline came despite the top-line increase, with per-share earnings falling 24 cents year over year.