UFP Industries Reports on Stock Plans in 10-Q
Ticker: UFPI · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 912767
Sentiment: neutral
Topics: 10-Q, compensation, stock-plans
TL;DR
UFP Industries 10-Q details stock plans active through Q2 2024. Compensation details disclosed.
AI Summary
UFP Industries, Inc. filed its 10-Q for the period ending June 29, 2024. The filing details various stock compensation plans, including the Stock Purchase Plan, Stock Gift Program, LTSIP, Executive Stock Match Grants, Director Compensation Plan, and Deferred Compensation Plans. These plans were active as of December 31, 2023, and the filing covers activity through June 29, 2024.
Why It Matters
This filing provides insight into UFP Industries' executive and employee compensation structures, which can impact shareholder value and company performance.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report detailing compensation plans and does not indicate significant new risks.
Key Players & Entities
- UFP Industries, Inc. (company) — Filer of the 10-Q
- June 29, 2024 (date) — End of reporting period
- December 31, 2023 (date) — Reference date for stock plans
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a quarterly update on UFP Industries, Inc.'s financial performance and operational details, including information on various stock compensation plans.
What specific stock compensation plans are mentioned in the filing?
The filing mentions the Stock Purchase Plan, Stock Gift Program, LTSIP, Executive Stock Match Grants, Director Compensation Plan, and Deferred Compensation Plans.
What is the reporting period covered by this 10-Q?
The reporting period covered by this 10-Q is up to June 29, 2024.
What was the former name of UFP Industries, Inc.?
The former name of UFP Industries, Inc. was Universal Forest Products Inc., with a date of name change on September 29, 1993.
What is UFP Industries, Inc.'s Standard Industrial Classification code?
UFP Industries, Inc.'s Standard Industrial Classification code is 2421 for Sawmills, Planning Mills, General.
Filing Stats: 4,443 words · 18 min read · ~15 pages · Grade level 16.8 · Accepted 2024-08-07 13:15:40
Key Financial Figures
- $1 — ding as of June 29, 2024 Common stock, $1 par value 60,918,541 Securities regi
Filing Documents
- ufpi-20240629x10q.htm (10-Q) — 2763KB
- ufpi-20240629xex31da.htm (EX-31.A) — 12KB
- ufpi-20240629xex31db.htm (EX-31.B) — 12KB
- ufpi-20240629xex32da.htm (EX-32.A) — 7KB
- ufpi-20240629xex32db.htm (EX-32.B) — 7KB
- 0001558370-24-011288.txt ( ) — 8958KB
- ufpi-20240629.xsd (EX-101.SCH) — 39KB
- ufpi-20240629_cal.xml (EX-101.CAL) — 58KB
- ufpi-20240629_def.xml (EX-101.DEF) — 148KB
- ufpi-20240629_lab.xml (EX-101.LAB) — 380KB
- ufpi-20240629_pre.xml (EX-101.PRE) — 272KB
- ufpi-20240629x10q_htm.xml (XML) — 1826KB
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets at June 29, 2024, December 30, 2023 and July 1, 2023 3 Condensed Consolidated Statements of Earnings and Comprehensive Income for the Three and Six Months Ended June 29, 2024 and July 1, 2023 4 Condensed Consolidated Statements of Shareholders' Equity for the Three and Six Months Ended June 29, 2024 and July 1, 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 29, 2024 and July 1, 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 36 PART II. OTHER INFORMATION Item 1. Legal Proceedings – NONE Item 1A. Risk Factors - NONE 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults upon Senior Securities – NONE Item 4. Mine Safety Disclosures – NONE Item 5. Other Information 37 Item 6. Exhibits 38 2 Table of Contents UFP INDUSTRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share data) June 29, December 30, July 1, 2024 2023 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1,041,341 $ 1,118,329 $ 702,148 Restricted cash 761 3,927 761 Investments 36,740 34,745 38,459 Accounts receivable, net 724,921 549,499 802,300 Inventories: Raw materials 393,871 352,785 334,300 Finished goods 290,942 375,003 486,887 Total inventories 684,813 727,788 821,187 Refundable income taxes 27,499 29,327 13,717 Other current assets 37,954 38,474 36,486 TOTAL CURRENT ASSETS 2,554,029 2,502,089 2,415,058 DEFERRED INCOME TAXES 3,291 4,228 4,187 RESTRICTED INVESTMENTS 30,344 24,838 22,756 RIGHT OF USE ASSETS 124,903 103,774 105,907 OTHER ASSETS 101,292 87,438 96,079 GOODWILL 335,448 336,313 336,495 INDEFINITE-LIVED INTANGIBLE ASSETS 7,332 7,345 7,330 OTHER INTANGIBLE ASSETS, NET 162,358 175,195 138,117 PROPERTY, PLANT AND EQUIPMENT: Property, plant and equipment 1,638,880 1,559,304 1,447,482 Less accumulated depreciation and amortization ( 819,383 ) ( 782,727 ) ( 729,468 ) PROPERTY, PLANT AND EQUIPMENT, NET 819,497 776,577 718,014 TOTAL ASSETS 4,138,494 4,017,797 3,843,943 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 263,318 $ 203,055 $ 264,408 Accrued liabilities: Compensation and benefits 172,790 232,331 183,910 Other 80,506 66,713 79,414 Current portion of lea