Price | 36.30 | EPS | 3 | |
Shares | 61 | P/E | 13 | |
MCap | 2,228 | P/FCF | 11 | |
Net Debt | 98 | EBIT | 227 | |
TEV | 2,326 | TEV/EBIT | 10 | TTM 2019-09-28, in MM, except price, ratios |
10-Q | 2020-09-26 | Filed 2020-10-28 |
10-Q | 2020-06-27 | Filed 2020-07-30 |
10-Q | 2020-03-28 | Filed 2020-05-06 |
10-K | 2019-12-28 | Filed 2020-02-26 |
10-Q | 2019-09-28 | Filed 2019-10-30 |
10-Q | 2019-06-29 | Filed 2019-08-07 |
10-Q | 2019-03-30 | Filed 2019-05-01 |
10-K | 2018-12-29 | Filed 2019-02-27 |
10-Q | 2018-09-29 | Filed 2018-11-07 |
10-Q | 2018-06-30 | Filed 2018-08-01 |
10-Q | 2018-03-31 | Filed 2018-05-02 |
10-K | 2017-12-30 | Filed 2018-02-28 |
10-Q | 2017-09-30 | Filed 2017-11-01 |
10-Q | 2017-07-01 | Filed 2017-08-02 |
10-Q | 2017-04-01 | Filed 2017-05-03 |
10-K | 2016-12-31 | Filed 2017-03-01 |
10-Q | 2016-09-24 | Filed 2016-10-27 |
10-Q | 2016-06-25 | Filed 2016-07-27 |
10-Q | 2016-03-26 | Filed 2016-04-27 |
10-K | 2015-12-26 | Filed 2016-02-24 |
10-Q | 2015-09-26 | Filed 2015-10-30 |
10-Q | 2015-06-27 | Filed 2015-07-29 |
10-Q | 2015-03-28 | Filed 2015-05-01 |
10-K | 2014-12-27 | Filed 2015-02-25 |
10-Q | 2014-09-27 | Filed 2014-10-29 |
10-Q | 2014-06-28 | Filed 2014-07-30 |
10-Q | 2014-03-29 | Filed 2014-04-30 |
10-K | 2013-12-28 | Filed 2014-02-26 |
10-Q | 2013-09-28 | Filed 2013-10-30 |
10-Q | 2013-06-29 | Filed 2013-08-01 |
10-Q | 2013-03-30 | Filed 2013-04-30 |
10-K | 2012-12-29 | Filed 2013-02-26 |
10-Q | 2012-09-29 | Filed 2012-10-30 |
10-Q | 2012-06-30 | Filed 2012-08-08 |
10-Q | 2012-03-31 | Filed 2012-04-30 |
10-K | 2011-12-31 | Filed 2012-03-14 |
10-Q | 2011-09-24 | Filed 2011-10-24 |
10-Q | 2011-06-25 | Filed 2011-08-01 |
10-Q | 2011-03-26 | Filed 2011-04-19 |
10-K | 2010-12-25 | Filed 2011-02-22 |
10-Q | 2010-09-25 | Filed 2010-10-20 |
10-Q | 2010-06-26 | Filed 2010-07-19 |
10-Q | 2010-03-27 | Filed 2010-04-21 |
10-K | 2009-12-26 | Filed 2010-02-23 |
8-K | 2020-11-16 | |
8-K | 2020-11-12 | |
8-K | 2020-11-05 | |
8-K | 2020-10-21 | |
8-K | 2020-08-12 | |
8-K | 2020-08-10 | |
8-K | 2020-07-22 | |
8-K | 2020-06-09 | |
8-K | 2020-04-22 | |
8-K | 2020-04-22 | |
8-K | 2020-03-26 | |
8-K | 2020-02-19 | |
8-K | 2020-01-13 | |
8-K | 2019-10-23 | |
8-K | 2019-08-12 | |
8-K | 2019-07-24 | |
8-K | 2019-04-25 | |
8-K | 2019-04-24 | |
8-K | 2019-03-26 | |
8-K | 2019-02-20 | |
8-K | 2019-01-02 | |
8-K | 2018-11-02 | |
8-K | 2018-10-16 | |
8-K | 2018-07-18 | |
8-K | 2018-06-26 | |
8-K | 2018-06-18 | |
8-K | 2018-05-03 | |
8-K | 2018-04-19 | |
8-K | 2018-04-18 | |
8-K | 2018-04-02 | |
8-K | 2018-02-22 |
Item 3. Quantitative and Qualitative Disclosures About Market Risk. |
Item 4. Controls and Procedures. |
Part II. Other Information |
Item 1A. Risk Factors. |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. |
Item 5. Other Information. |
Part II. Other Information |
Item 6. Exhibits. |
EX-31.(A) | ufpi-20200926xex31da.htm |
EX-31.(B) | ufpi-20200926xex31db.htm |
EX-32.(A) | ufpi-20200926xex32da.htm |
EX-32.(B) | ufpi-20200926xex32db.htm |
Balance Sheet | Income Statement | Cash Flow |
---|---|---|
Assets, Equity
|
Rev, G Profit, Net Income
|
Ops, Inv, Fin
|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number
(Exact name of registrant as specified in its charter)
| ||||
(State or other jurisdiction of incorporation or | (I.R.S. Employer Identification Number) | |||
organization) | ||||
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code (
NONE | ||||
(Former name or former address, if changed since last report.) | ||||
Indicate by checkmark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Accelerated Filer ◻ | Non-Accelerated Filer ◻ | Smaller Reporting Company | |
Emerging Growth Company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with a new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by checkmark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
Class |
| Outstanding as of September 26, 2020 | ||
Common stock, $1 par value |
Securities registered pursuant to Section 12(b) of the Act: | ||
Title of Each Class | Trading Symbol | Name of Each Exchange On Which Registered |
TABLE OF CONTENTS
PART I. | FINANCIAL INFORMATION. | Page No. | |
Item 1. | Financial Statements | ||
3 | |||
4 | |||
5 | |||
7 | |||
Notes to Unaudited Condensed Consolidated Financial Statements | 8 | ||
Management’s Discussion and Analysis of Financial Condition and Results of Operations | 18 | ||
34 | |||
35 | |||
PART II. | OTHER INFORMATION | ||
Item 1. | Legal Proceedings – NONE | ||
36 | |||
36 | |||
Item 3. | Defaults upon Senior Securities – NONE | ||
Item 4. | Mine Safety Disclosures – NONE | ||
36 | |||
37 |
2
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands, except share data) | ||||||||||
September 26, | December 28, | September 28, | ||||||||
| 2020 |
| 2019 |
| 2019 | |||||
ASSETS |
|
| ||||||||
CURRENT ASSETS: |
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Cash and cash equivalents | $ | |
| $ | |
| $ | | ||
Restricted cash |
| |
| |
|
| | |||
Investments |
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| |
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Accounts receivable, net |
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Inventories: |
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Raw materials |
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Finished goods |
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Total inventories |
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Refundable income taxes |
| — |
| |
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| | |||
Other current assets |
| |
| |
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TOTAL CURRENT ASSETS |
| |
| |
| | ||||
DEFERRED INCOME TAXES |
| |
| |
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RESTRICTED INVESTMENTS | |
| |
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RIGHT OF USE ASSETS | | | | |||||||
OTHER ASSETS |
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GOODWILL |
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INDEFINITE-LIVED INTANGIBLE ASSETS |
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OTHER INTANGIBLE ASSETS, NET |
| |
| |
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PROPERTY, PLANT AND EQUIPMENT: |
|
| ||||||||
Property, plant and equipment | ||||||||||
Less accumulated depreciation and amortization |
| ( |
| ( |
|
| ( | |||
PROPERTY, PLANT AND EQUIPMENT, NET | | | ||||||||
TOTAL ASSETS | | | | |||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
| ||||||||
CURRENT LIABILITIES: |
|
| ||||||||
Accounts payable | $ | | $ | |
| $ | | |||
Accrued liabilities: |
|
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Compensation and benefits |
| |
| |
|
| | |||
Income taxes | | — | — | |||||||
Other |
| |
| |
|
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Current portion of lease liability | | | | |||||||
Current portion of long-term debt |
| |
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TOTAL CURRENT LIABILITIES |
| |
| |
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LONG-TERM DEBT |
| |
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LEASE LIABILITY | | | | |||||||
DEFERRED INCOME TAXES |
| |
| |
|
| | |||
OTHER LIABILITIES |
| |
| |
|
| | |||
TOTAL LIABILITIES |
| |
| |
|
| | |||
SHAREHOLDERS’ EQUITY: |
|
| ||||||||
Controlling interest shareholders’ equity: |
|
| ||||||||
Preferred stock, | $ | $ |
| $ | ||||||
Common stock, $ |
| |
| |
|
| | |||
Additional paid-in capital |
| |
| |
|
| | |||
Retained earnings |
| |
| |
|
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Accumulated other comprehensive income |
| ( |
| ( |
|
| ( | |||
Total controlling interest shareholders’ equity |
| |
| |
|
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Noncontrolling interest |
| |
| |
|
| | |||
TOTAL SHAREHOLDERS’ EQUITY |
| |
| |
|
| | |||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | | $ | |
| $ | |
See notes to consolidated condensed financial statements.
3
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
AND COMPREHENSIVE INCOME
(Unaudited)
(in thousands, except per share data) | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 26, | September 28, | September 26, | September 28, | ||||||||||
| 2020 |
| 2019 |
| 2020 |
| 2019 |
| |||||
NET SALES | $ | |
| $ | |
| $ | |
| $ | |
| |
COST OF GOODS SOLD |
| |
| |
|
| |
| | ||||
GROSS PROFIT |
| |
| |
|
| |
| | ||||
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES |
| |
| |
|
| |
| | ||||
OTHER | ( | | ( | | |||||||||
EARNINGS FROM OPERATIONS |
| |
| |
|
| |
| | ||||
INTEREST EXPENSE |
| |
| |
|
| |
| | ||||
INTEREST INCOME |
| ( |
| ( |
|
| ( |
| ( | ||||
UNREALIZED GAIN ON INVESTMENTS AND OTHER | ( | ( | ( | ( | |||||||||
| |
| |
|
| |
| | |||||
EARNINGS BEFORE INCOME TAXES |
| |
| |
|
| |
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INCOME TAXES |
| |
| |
|
| |
| | ||||
NET EARNINGS |
| |
| |
|
| |
| | ||||
LESS NET EARNINGS ATTRIBUTABLE TO NONCONTROLLING INTEREST |
| ( |
| ( |
|
| ( |
| ( | ||||
NET EARNINGS ATTRIBUTABLE TO CONTROLLING INTEREST | $ | | $ | |
| $ | | $ | | ||||
EARNINGS PER SHARE - BASIC | $ | | $ | |
| $ | | $ | | ||||
EARNINGS PER SHARE - DILUTED | $ | | $ | |
| $ | | $ | | ||||
OTHER COMPREHENSIVE INCOME: | |||||||||||||
NET EARNINGS |
| |
| |
|
| |
| | ||||
OTHER COMPREHENSIVE GAIN (LOSS) |
| |
| ( |
|
| ( |
| | ||||
COMPREHENSIVE INCOME |
| |
| |
|
| |
| | ||||
LESS COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST |
| ( |
| ( |
|
| ( |
| ( | ||||
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST | $ | | $ | |
| $ | | $ | |
See notes to consolidated condensed financial statements.
4
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(Unaudited)
(in thousands, except share and per share data) | ||||||||||||||||||
Controlling Interest Shareholders’ Equity | ||||||||||||||||||
Accumulated | ||||||||||||||||||
Additional | Other | |||||||||||||||||
Common | Paid-In | Retained | Comprehensive | Noncontrolling | ||||||||||||||
| Stock |
| Capital |
| Earnings |
| Earnings |
| Interest |
| Total | |||||||
Balance at December 28, 2019 | $ | | $ | |
| $ | | $ | ( |
| $ | |
| $ | | |||
Net earnings |
|
|
| |
|
|
| |
|
| | |||||||
Foreign currency translation adjustment |
|
|
|
| ( |
| ( |
|
| ( | ||||||||
Unrealized loss on debt securities |
|
|
|
| ( |
|
|
| ( | |||||||||
Distributions to noncontrolling interest |
|
|
|
|
| ( |
| ( | ||||||||||
Additional purchase of noncontrolling interest | ( | ( | ||||||||||||||||
Cash dividends - $ |
|
|
| ( |
|
|
|
|
| ( | ||||||||
Issuance of |
| |
| |
|
|
|
|
| | ||||||||
Net issuance of |
| |
| |
|
|
|
|
| | ||||||||
Issuance of |
| |
| ( |
|
|
|
|
| — | ||||||||
Repurchase of |
| ( |
|
| ( |
|
|
|
|
| ( | |||||||
Expense associated with share-based compensation arrangements |
|
| |
|
|
|
|
|
|
| | |||||||
Accrued expense under deferred compensation plans |
|
| |
|
|
|
|
|
|
| | |||||||
Balance at March 28, 2020 | $ | | $ | |
| $ | | $ | ( |
| $ | |
| $ | | |||
Net earnings |
|
|
| |
|
|
| |
|
| | |||||||
Foreign currency translation adjustment |
|
|
|
| |
| |
|
| | ||||||||
Unrealized loss on debt securities |
|
|
|
| |
|
|
| | |||||||||
Cash dividends - $ |
|
|
| ( |
|
|
|
|
| ( | ||||||||
Issuance of |
| |
| |
|
|
|
|
| | ||||||||
Net issuance of |
| |
| ( |
|
|
|
|
| ( | ||||||||
Issuance of |
| |
| ( |
|
|
|
|
| — | ||||||||
Expense associated with share-based compensation arrangements |
|
| |
|
|
|
|
|
|
| | |||||||
Accrued expense under deferred compensation plans |
|
| |
|
|
|
|
|
|
| | |||||||
Balance at June 27, 2020 | $ | | $ | |
| $ | | $ | ( |
| $ | |
| $ | | |||
Net earnings | | | | |||||||||||||||
Foreign currency translation adjustment | | | | |||||||||||||||
Unrealized loss on debt securities | | | ||||||||||||||||
Distributions to noncontrolling interest | ( | ( | ||||||||||||||||
Cash dividends - $ | ( | ( | ||||||||||||||||
Issuance of | | | | |||||||||||||||
Net forfeiture of | ( | ( | ( | |||||||||||||||
Issuance of | | ( | — | |||||||||||||||
Expense associated with share-based compensation arrangements | | | ||||||||||||||||
Accrued expense under deferred compensation plans | | | ||||||||||||||||
Balance at September 26, 2020 | $ | | $ | | $ | | $ | ( | $ | | $ | |
See notes to condensed consolidated financial statements.
5
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY, CONTINUED
(Unaudited)
(in thousands, except share and per share data) | ||||||||||||||||||
Controlling Interest Shareholders’ Equity | ||||||||||||||||||
Accumulated | ||||||||||||||||||
Additional | Other | |||||||||||||||||
Common | Paid-In | Retained | Comprehensive | Noncontrolling | ||||||||||||||
| Stock |
| Capital |
| Earnings |
| Earnings |
| Interest |
| Total | |||||||
Balance at December 29, 2018 | $ | | $ | |
| $ | | $ | ( |
| $ | |
| $ | | |||
Net earnings |
|
|
| |
|
|
| |
|
| | |||||||
Foreign currency translation adjustment |
|
|
|
| |
| |
|
| | ||||||||
Unrealized gain (loss) on investment & foreign currency |
|
|
|
| |
|
|
| | |||||||||
Distributions to noncontrolling interest |
|
|
|
|
| ( |
| ( | ||||||||||
Issuance of |
| |
| |
|
|
|
|
| | ||||||||
Net issuance of |
| |
| |
|
|
|
|
| | ||||||||
Issuance of |
| |
| ( |
|
|
|
|
| — | ||||||||
Expense associated with share-based compensation arrangements |
|
| |
|
|
|
|
|
|
| | |||||||
Accrued expense under deferred compensation plans |
|
|