UFP Industries : 2024 Q4 Non GAAP Disclosure Reconciliation
UFPI
NON-GAAP DISCLOSURE CALCULATIONS
Non-GAAP Financial Information: This presentation includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, return on invested capital, net debt (cash surplus) and liquidity, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. These non-GAAP financial measures are intended to supplement and should be read together with the financial results. These non-GAAP financial measures should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measures.
CONSOLIDATED:
Q4 2024 TTM
Q4 2024 YTD
Q4 2024 QTD
Q4 2023 YTD
Q4 2023 QTD
Q3 2024 QTD
Q2 2024 QTD
Q1 2024 QTD
NET EARNINGS
$
418,733
$
418,733
$
69,783
$
514,457
$
103,908
$
101,619
$
126,232
$
121,099
Interest and other
(47,913)
(47,913)
(11,560)
(24,707)
(11,664)
(14,184)
(9,406)
(12,763)
Taxes
121,422
121,422
21,236
156,784
31,753
32,491
42,208
25,487
Expense associated with share-based compensation arrangements
38,163
38,163
10,818
34,899
8,831
8,069
7,999
11,277
Net (gain) loss on sale or impairment of property, plant & equipment
678
678
(860)
(260)
205
(453)
2,222
(231)
Impairment of goodwill and other intangibles
5,479
5,479
5,479
-
-
-
-
-
Gain from reduction of estimated earnout liability
(2,460)
(2,460)
(605)
(3,177)
(3,609)
-
(1,818)
-
Depreciation expense
124,641
124,641
32,511
110,563
30,131
31,487
30,624
30,019
Amortization of intangibles
23,521
23,521
5,900
21,327
6,002
5,886
5,853
5,882
ADJUSTED EBITDA
$
682,264
$
682,264
$
132,702
$
809,886
$
165,557
$
164,915
$
203,914
$
180,770
Net sales
6,652,309
6,652,309
1,462,001
7,218,384
1,524,353
1,649,383
1,901,959
1,638,966
ADJUSTED EBITDA MARGIN
10.3%
10.3%
9.1%
11.2%
10.9%
10.0%
10.7%
11.0%
2024
2023
2022
2021
2020
NET EARNINGS
$
418,733
$
514,457
$
704,964
$
552,364
$
253,882
Interest and other
(47,913)
(24,707)
15,368
11,218
4,843
Taxes
121,422
156,784
229,852
173,972
87,101
Expense associated with share-based compensation arrangements
38,163
34,899
28,156
11,224
4,034
Net (gain) loss on sale or impairment of property, plant & equipment
678
(260)
1,285
(11,992)
1,470
Impairment of goodwill and other intangibles
5,479
-
4,261
-
11,485
Gain from reduction of estimated earnout liability
(2,460)
(3,177)
-
-
(4,134)
Depreciation expense
124,641
110,563
94,063
84,184
63,964
Amortization of intangibles
23,521
21,327
19,499
13,948
8,716
ADJUSTED EBITDA
$
682,264
$
809,886
$
1,097,448
$
834,918
$
431,361
Net sales
6,652,309
7,218,384
9,626,739
8,636,134
5,153,998
ADJUSTED EBITDA MARGIN
10.3%
11.2%
11.4%
9.7%
8.4%
Page 1 of 8
NON-GAAP DISCLOSURE CALCULATIONS
Non-GAAP Financial Information: This presentation includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, return on invested capital, net debt (cash surplus) and liquidity, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. These non-GAAP financial measures are intended to supplement and should be read together with the financial results. These non-GAAP financial measures should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measures.
RETAIL:
Q4 2024 TTM
Q4 2024 YTD
Q4 2024 QTD
Q4 2023 YTD
Q4 2023 QTD
Q3 2024 QTD
Q2 2024 QTD
Q1 2024 QTD
NET EARNINGS
$
139,127
$
139,127
$
24,359
$
131,920
$
19,226
$
31,769
$
44,936
$
38,063
Interest and other
(557)
(557)
(171)
(57)
(124)
(114)
(178)
(94)
Taxes
40,534
40,534
7,341
40,304
5,922
10,157
15,025
8,011
Expense associated with share-based compensation arrangements
5,788
5,788
1,860
5,575
1,331
1,116
1,124
1,688
Net loss (gain) on sale or impairment of property, plant & equipment
1,817
1,817
940
801
740
(9)
1,158
(272)
Impairment of intangibles
1,250
1,250
1,250
-
-
-
-
-
Gain from reduction of estimated earnout liability
-
-
-
(593)
(134)
-
-
-
Depreciation expense
28,877
28,877
7,550
25,483
6,898
7,238
7,124
6,965
Amortization of intangibles
3,992
3,992
998
4,566
1,101
998
998
998
ADJUSTED EBITDA
$
220,828
$
220,828
$
44,127
$
207,999
$
34,960
$
51,155
$
70,187
$
55,359
Net sales
2,597,994
2,597,994
524,591
2,956,007
525,730
635,571
809,067
628,765
ADJUSTED EBITDA MARGIN
8.5%
8.5%
8.4%
7.0%
6.6%
8.0%
8.7%
8.8%
2024
2023
2022
2021
2020
NET EARNINGS
$
139,127
$
131,920
$
139,685
$
131,512
$
126,630
Interest and other
(557)
(57)
161
72
-
Taxes
40,534
40,304
46,876
43,190
44,086
Expense associated with share-based compensation arrangements
5,788
5,575
4,476
2,747
1,015
Net loss on sale or impairment of property, plant & equipment
1,817
801
785
2
2
Impairment of intangibles
1,250
-
-
-
Gain from reduction of estimated earnout liability
-
(593)
-
-
-
Depreciation expense
28,877
25,483
20,980
17,823
12,372
Amortization of intangibles
3,992
4,566
4,131
2,780
1,482
ADJUSTED EBITDA
$
220,828
$
207,999
$
217,094
$
198,126
$
185,587
Net sales
2,597,994
2,956,007
3,771,231
3,535,446
2,233,601
ADJUSTED EBITDA MARGIN
8.5%
7.0%
5.8%
5.6%
Page 2 of 8
NON-GAAP DISCLOSURE CALCULATIONS
Non-GAAP Financial Information: This presentation includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, return on invested capital, net debt (cash surplus) and liquidity, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. These non-GAAP financial measures are intended to supplement and should be read together with the financial results. These non-GAAP financial measures should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measures.
PACKAGING:
Q4 2024 TTM
Q4 2024 YTD
Q4 2024 QTD
Q4 2023 YTD
Q4 2023 QTD
Q3 2024 QTD
Q2 2024 QTD
Q1 2024 QTD
NET EARNINGS
$
80,035
$
80,035
$
16,563
$
148,269
$
31,823
$
16,507
$
21,637
$
25,328
Interest and other
(101)
(101)
(1,415)
2,368
1,356
81
645
588
Taxes
23,023
23,023
5,182
45,292
9,725
5,277
7,234
5,330
Expense associated with share-based compensation arrangements
6,974
6,974
1,623
7,595
2,110
1,575
1,587
2,189
Net loss (gain) on sale or impairment of property, plant & equipment
2,316
2,316
861
7
92
28
1,174
253
Impairment of intangibles
4,229
4,229
4,229
-
-
-
-
-
Gain from reduction of estimated earnout liability
(642)
(642)
(605)
(1,784)
(3,475)
-
-
-
Depreciation expense
34,603
34,603
9,003
32,996
8,958
8,664
8,467
8,469
Amortization of intangibles
8,840
8,840
2,216
8,849
2,192
2,216
2,216
2,192
ADJUSTED EBITDA
$
159,277
$
159,277
$
37,657
$
243,592
$
52,781
$
34,348
$
42,960
$
44,349
Net sales
1,636,563
1,636,563
375,315
1,838,200
413,654
401,626
435,204
424,418
ADJUSTED EBITDA MARGIN
9.7%
9.7%
10.0%
13.3%
12.8%
8.6%
9.9%
10.4%
2024
2023
2022
2021
2020
NET EARNINGS
$
80,035
$
148,269
$
251,187
$
197,593
$
62,119
Interest and other
(101)
2,368
2,158
3,882
22
Taxes
23,023
45,292
81,900
63,463
21,312
Expense associated with share-based compensation arrangements
6,974
7,595
5,125
2,520
1,038
Net loss on sale or impairment of property, plant & equipment
2,316
7
131
-
261
Impairment of intangibles
4,229
-
-
-
-
Gain from reduction of estimated earnout liability
(642)
(1,784)
-
-
(4,134)
Depreciation expense
34,603
32,996
28,191
26,219
15,163
Amortization of intangibles
8,840
8,849
6,925
6,093
4,159
ADJUSTED EBITDA
$
159,277
$
243,592
$
375,617
$
299,770
$
99,940
Net sales
1,636,563
1,838,200
2,394,681
2,148,142
1,072,117
ADJUSTED EBITDA MARGIN
9.7%
13.3%
15.7%
14.0%
Page 3 of 8
NON-GAAP DISCLOSURE CALCULATIONS
Non-GAAP Financial Information: This presentation includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, return on invested capital, net debt (cash surplus) and liquidity, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. These non-GAAP financial measures are intended to supplement and should be read together with the financial results. These non-GAAP financial measures should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measures.
CONSTRUCTION:
Q4 2024 TTM
Q4 2024 YTD
Q4 2024 QTD
Q4 2023 YTD
Q4 2023 QTD
Q3 2024 QTD
Q2 2024 QTD
Q1 2024 QTD
NET EARNINGS
$
136,179
$
136,179
$
27,595
$
186,603
$
44,104
$
32,127
$
38,989
$
37,468
Interest and other
17
17
42
(10)
(3)
-
(14)
(11)
Taxes
39,488
39,488
8,294
56,753
13,478
10,273
13,036
7,885
Expense associated with share-based compensation arrangements
7,944
7,944
1,846
7,190
1,698
1,822
1,811
2,465
Net loss (gain) on sale or impairment of property, plant & equipment
673
673
451
9
54
(64)
287
(1)
Gain from reduction of estimated earnout liability
(1,818)
(1,818)
-
(800)
-
-
(1,818)
-
Depreciation expense
23,124
23,124
6,092
19,546
5,354
6,027
5,621
5,384
Amortization of intangibles
2,810
2,810
702
2,904
702
703
703
702
ADJUSTED EBITDA
$
208,417
$
208,417
$
45,022
$
272,195
$
65,387
$
50,888
$
58,615
$
53,892
Net sales
2,113,844
2,113,844
486,776
2,161,059
511,042
534,625
574,547
517,896
ADJUSTED EBITDA MARGIN
9.9%
9.9%
9.2%
12.6%
12.8%
9.5%
10.2%
10.4%
2024
2023
2022
2021
2020
NET EARNINGS
$
136,179
$
186,603
$
299,721
$
200,948
$
51,443
Interest and other
17
(10)
(12)
(8)
-
Taxes
39,488
56,753
97,725
63,290
17,649
Expense associated with share-based compensation arrangements
7,944
7,190
4,882
2,452
1,407
Net loss on sale or impairment of property, plant & equipment
673
9
1,349
-
1,889
Impairment of goodwill
-
-
-
-
11,485
Gain from reduction of estimated earnout liability
(1,818)
(800)
-
-
-
Depreciation expense
23,124
19,546
15,364
13,151
12,123
Amortization of intangibles
2,810
2,904
3,358
3,525
2,152
ADJUSTED EBITDA
$
208,417
$
272,195
$
422,387
$
283,358
$
98,148
Net sales
2,113,844
2,161,059
3,143,868
2,698,434
1,695,683
ADJUSTED EBITDA MARGIN
9.9%
12.6%
13.4%
10.5%
Page 4 of 8
NON-GAAP DISCLOSURE CALCULATIONS
Non-GAAP Financial Information: This presentation includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, return on invested capital, net debt (cash surplus) and liquidity, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. These non-GAAP financial measures are intended to supplement and should be read together with the financial results. These non-GAAP financial measures should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measures.
All Other:
Q4 2024 TTM
Q4 2024 YTD
Q4 2024 QTD
Q4 2023 YTD
Q4 2023 QTD
Q3 2024 QTD
Q2 2024 QTD
Q1 2024 QTD
NET EARNINGS
$
24,839
$
24,839
$
7,169
$
25,582
$
9,133
$
4,986
$
6,518
$
6,166
Interest and other
(9,356)
(9,356)
(530)
(8,767)
(4,300)
(4,033)
(1,202)
(3,591)
Taxes
5,793
5,793
721
7,723
2,744
1,594
2,180
1,298
Expense associated with share-based compensation arrangements
772
772
163
935
248
140
170
299
Net (gain) loss on sale or impairment of property, plant & equipment
28
28
18
(167)
(27)
(4)
23
(9)
Depreciation expense
3,338
3,338
889
2,454
975
832
828
789
Amortization of intangibles
6,124
6,124
1,551
3,488
1,642
1,536
1,503
1,534
ADJUSTED EBITDA
$
31,538
$
31,538
$
9,981
$
31,248
$
10,415
$
5,051
$
10,020
$
6,486
Net sales
298,190
298,190
73,971
259,392
73,551
75,802
81,470
66,947
ADJUSTED EBITDA MARGIN
10.6%
10.6%
13.5%
12.0%
14.2%
6.7%
12.3%
9.7%
2024
2023
2022
2021
2020
NET EARNINGS
$
24,839
$
25,582
$
16,404
$
28,817
$
17,590
Interest and other
(9,356)
(8,767)
1,818
(6,095)
(4,376)
Taxes
5,793
7,723
4,013
6,078
5,391
Expense associated with share-based compensation arrangements
772
935
614
585
258
Net (gain) loss on sale or impairment of property, plant & equipment
28
(167)
347
-
73
Impairment of goodwill
-
-
4,261
-
-
Depreciation expense
3,338
2,454
1,910
1,226
922
Amortization of intangibles
6,124
3,488
4,571
1,336
877
ADJUSTED EBITDA
$
31,538
$
31,248
$
33,938
$
31,947
$
20,735
Net sales
298,190
259,392
311,019
245,364
150,616
ADJUSTED EBITDA MARGIN
10.6%
12.0%
10.9%
13.0%
Page 5 of 8
NON-GAAP DISCLOSURE CALCULATIONS
Non-GAAP Financial Information: This presentation includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, return on invested capital, net debt (cash surplus) and liquidity, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. These non-GAAP financial measures are intended to supplement and should be read together with the financial results. These non-GAAP financial measures should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measures.
Corporate:
Q4 2024 TTM
Q4 2024 YTD
Q4 2024 QTD
Q4 2023 YTD
Q4 2023 QTD
Q3 2024 QTD
Q2 2024 QTD
Q1 2024 QTD
NET EARNINGS
$
38,553
$
38,553
$
(5,903)
$
22,083
$
(378)
$
16,230
$
14,152
$
14,074
Interest and other
(37,916)
(37,916)
(9,486)
(18,241)
(8,593)
(10,118)
(8,657)
(9,655)
Taxes
12,584
12,584
(302)
6,712
(116)
5,190
4,733
2,963
Expense associated with share-based compensation arrangements
16,685
16,685
5,326
13,604
3,444
3,416
3,307
4,636
Net gain on sale or impairment of property, plant & equipment
(4,156)
(4,156)
(3,130)
(910)
(654)
(404)
(420)
(202)
Depreciation expense
34,699
34,699
8,977
30,084
7,946
8,726
8,584
8,412
Amortization of intangibles
1,755
1,755
433
1,520
365
433
433
456
ADJUSTED EBITDA
$
62,204
$
62,204
$
(4,085)
$
54,852
$
2,014
$
23,473
$
22,132
$
20,684
Net sales
5,718
5,718
1,348
3,726
376
1,759
1,671
940
ADJUSTED EBITDA MARGIN
1087.9%
1087.9%
-303.0%
1472.1%
535.6%
1334.5%
1324.5%
2200.4%
2024
2023
2022
2021
2020
NET EARNINGS
$
38,553
$
22,083
$
(2,033)
$
(6,506)
$
(3,900)
Interest and other
(37,916)
(18,241)
11,243
13,367
9,197
Taxes
12,584
6,712
(662)
(2,049)
(1,337)
Expense associated with share-based compensation arrangements
16,685
13,604
13,059
2,920
316
Net gain on sale or impairment of property, plant & equipment
(4,156)
(910)
(1,327)
(11,994)
(755)
Depreciation expense
34,699
30,084
27,618
25,765
23,384
Amortization of intangibles
1,755
1,520
514
214
46
ADJUSTED EBITDA
$
62,204
$
54,852
$
48,412
$
21,717
$
26,951
Net sales
5,718
3,726
5,940
8,748
1,981
ADJUSTED EBITDA MARGIN
1087.9%
1472.1%
815.0%
248.3%
Page 6 of 8
NON-GAAP DISCLOSURE CALCULATIONS
Non-GAAP Financial Information: This presentation includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, return on invested capital, net debt (cash surplus) and liquidity, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. These non-GAAP financial measures are intended to supplement and should be read together with the financial results. These non-GAAP financial measures should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measures.
II) RETURN ON INVESTED CAPITAL CALCULATION
BEGINNING CAPITAL CALCULATION
2024
2023
2022
2021
2020
Beginning interest bearing debt
$
274,847
$
278,096
$
320,250
$
311,707
$
163,683
Beginning cash overdraft
-
-
17,030
-
-
Beginning equity
2,948,763
2,596,823
2,016,569
1,483,152
1,257,733
Less : Beginning cash
(957,092)
(559,397)
(286,662)
(436,507)
(168,336)
Prorated capital employed for acquisitions
1,243
15,412
74,527
386,930
32,983
TOTAL BEGINNING CAPITAL
$
2,267,761
$
2,330,934
$
2,141,714
$
1,745,282
$
1,286,063
2024
2023
2022
2021
2020
NET EARNINGS
$
418,733
$
514,457
$
704,964
$
552,364
$
253,882
Add back : Expense associated with share-based compensation arrangements
38,163
34,899
28,156
11,224
4,034
Less: Proforma tax for expense associated with share-based compensation arrangements
(9,262)
(8,152)
(6,926)
(2,683)
(1,029)
Add back: Net (gain) loss on sale or impairment of property, plant & equipment
678
(260)
1,285
(11,992)
1,470
Less: Proforma tax for net (gain) loss on sale or impairment of property, plant & equipment
(165)
61
(316)
2,866
(375)
Add back: Impairment of goodwill and other intangibles
5,479
-
4,261
-
11,485
Less: Proforma tax for goodwill impairment
(1,330)
-
(1,048)
-
(774)
Add back: Gain from reduction of estimated earnout liability
(2,460)
(3,177)
-
-
(4,134)
Less: Proforma tax for gain from reduction of estimated earnout liability
597
742
-
-
1,054
Add back: Interest and investment income
(60,533)
(39,916)
(725)
(6,498)
(4,468)
Less: Proforma tax for interest and investment income
14,692
9,324
178
1,553
1,139
Add back: Interest expense
12,709
12,842
13,910
13,814
9,311
Less: Proforma tax for interest expense
(3,085)
(3,000)
(3,422)
(3,302)
(2,374)
NET OPERATING PROFIT AFTER TAX
$
414,216
$
517,820
$
740,317
$
557,347
$
269,222
RETURN ON INVESTED CAPITAL
18.3%
22.2%
34.6%
31.9%
20.9%
EFFECTIVE TAX RATE
2024
2023
2022
2021
2020
Effective tax rate
22.5%
23.4%
24.6%
23.9%
25.5%
Adjustments to effective tax rate
1.8%
0.0%
0.0%
0.0%
0.0%
Adjusted effective tax rate
24.3%
23.4%
24.6%
23.9%
25.5%
Page 7 of 8
NON-GAAP DISCLOSURE CALCULATIONS
Non-GAAP Financial Information: This presentation includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, return on invested capital, net debt (cash surplus) and liquidity, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. These non-GAAP financial measures are intended to supplement and should be read together with the financial results. These non-GAAP financial measures should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measures.
III) NET DEBT (CASH SURPLUS)
NET DEBT (CASH SURPLUS) CALCULATION
2024
2023
2022
2021
2020
Cash and cash equivalents
$
(1,171,828)
$
(1,118,329)
$
(559,397)
$
(286,662)
$
(436,507)
Cash overdraft
-
-
-
17,030
-
Total cash surplus
(1,171,828)
(1,118,329)
(559,397)
(269,632)
(436,507)
Current portion of long-term debt
4,125
42,900
2,942
42,683
100
Long-term debt
229,830
233,534
275,154
277,567
311,607
TOTAL NET (CASH SURPLUS) DEBT
$
(937,873)
$
(841,895)
$
(281,301)
$
50,618
$
(124,800)
ENDING CAPITAL CALCULATION
2024
2023
2022
2021
2020
Net (cash surplus) debt
$
(937,873)
$
(841,895)
$
(281,301)
$
50,618
$
(124,800)
Shareholder's equity
3,235,125
3,030,190
2,596,823
2,016,569
1,483,152
TOTAL ENDING CAPITAL
$
2,297,252
$
2,188,295
$
2,315,522
$
2,067,187
$
1,358,352
NET DEBT TO TOTAL CAPITAL
0.0%
0.0%
0.0%
2.5%
0.0%
Adjusted EBITDA
$
682,264
$
809,886
$
1,097,448
$
834,918
$
431,361
NET DEBT TO ADJUSTED EBITDA
0.0
0.0
0.0
0.1
0.0
LIQUIDITY CALCULATION
2024
2023
2022
2021
2020
Revolver capacity
$
750,000
$
750,000
$
750,000
$
550,000
$
375,000
Shelf capacity
800,000
800,000
800,000
300,000
300,000
Foreign subsidiary borrowings
-
(3,692)
(5,465)
(7,818)
(4,715)
Outstanding letters of credit
(37,342)
(37,320)
(3,341)
(7,091)
(7,091)
Senior notes
(225,000)
(265,000)
(265,000)
(300,000)
(300,000)
Total remaining availability
$
1,287,658
$
1,243,988
$
1,276,194
$
535,091
$
363,194
Cash surplus
1,171,828
1,118,329
559,397
269,632
436,507
TOTAL LIQUIDITY
$
2,459,486
$
2,362,317
$
1,835,591
$
804,723
$
799,701
Page 8 of 8
Disclaimer
UFP Industries Inc. published this content on February 18, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 18, 2025 at 19:42:05.145.