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UFP Industries' (UFPI) TimberBase Launches New B2B Platform
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UFP Industries, Inc.’s (UFPI - Free Report) affiliate, TimberBase, launched a B2B digital platform, TimberBase.com.
Purchased from a Germany-based tech start-up — Timber Base GmbH — in February 2023, this platform will ensure efficient buying and selling of lumber and building materials. Supported by UFP Industries’ team of international industry experts, the launched platform is an upgraded version, housing a more intuitive interface. It is intended to make the buying and selling process for customers and suppliers simpler, globally.
UFPI is optimistic on the launch of this new digital platform, as it believes this will provide access to valuable wood baskets throughout the world along with export opportunities. This will be advantageous for its manufacturing operations in North America, Europe, Asia and Australia as it will define new supplier relationships.
Image Source: Zacks Investment Research
Following the announcement, shares of UFPI inched down 0.1% during the after-market trading hours on Nov 14. However, UFPI has gained 37% in the past six months, outperforming the Zacks Building Products - Wood industry’s 7.8% growth.
Strategic Investments Drive Growth
UFP Industries indulges in expansionary investments in key business areas. These include extending its capacity to manufacture new and value-added products, geographic expansion of its core businesses, achieving efficiencies through automation along with increasing the transportation capacity. For the third quarter, the company’s investing activities included $131 million in capital expenditures.
UFP Industries’ investments in innovation and acceleration are poised to yield greater results in the upcoming periods. It is exploring intellectual property, technology and process improvement acquisitions and ventures through Innovation Fund, which is designed to get new products at an earlier stage of development and enable faster commercialization and scaling.
For 2023, the company aims capital expenditures in the range of $175-$200 million, considering its focus on expanding the capacity to produce new and value-added products.
Zacks Rank & Key Picks
UFP Industries currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks that investors may consider from the Zacks Construction sector.
Acuity Brands, Inc. (AYI - Free Report) currently flaunts a Zacks Rank #1 (Strong Buy). AYI delivered a trailing four-quarter earnings surprise of 12%, on average. The stock has declined 2.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for AYI’s fiscal 2024 sales and EPS indicates a decline of 3% and 4.7%, respectively, from a year ago.
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It has surged 267.7% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and earnings per share (EPS) indicates growth of 30.6% and 156.7%, respectively, from the previous year.
Construction Partners, Inc. (ROAD - Free Report) presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 10.6%, on average. Shares of ROAD have rallied 36.7% in the past year.
The Zacks Consensus Estimate for ROAD’s fiscal 2024 sales and EPS indicates an improvement of 14.6% and 47.1%, respectively, from the prior-year levels.
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UFP Industries' (UFPI) TimberBase Launches New B2B Platform
UFP Industries, Inc.’s (UFPI - Free Report) affiliate, TimberBase, launched a B2B digital platform, TimberBase.com.
Purchased from a Germany-based tech start-up — Timber Base GmbH — in February 2023, this platform will ensure efficient buying and selling of lumber and building materials. Supported by UFP Industries’ team of international industry experts, the launched platform is an upgraded version, housing a more intuitive interface. It is intended to make the buying and selling process for customers and suppliers simpler, globally.
UFPI is optimistic on the launch of this new digital platform, as it believes this will provide access to valuable wood baskets throughout the world along with export opportunities. This will be advantageous for its manufacturing operations in North America, Europe, Asia and Australia as it will define new supplier relationships.
Image Source: Zacks Investment Research
Following the announcement, shares of UFPI inched down 0.1% during the after-market trading hours on Nov 14. However, UFPI has gained 37% in the past six months, outperforming the Zacks Building Products - Wood industry’s 7.8% growth.
Strategic Investments Drive Growth
UFP Industries indulges in expansionary investments in key business areas. These include extending its capacity to manufacture new and value-added products, geographic expansion of its core businesses, achieving efficiencies through automation along with increasing the transportation capacity. For the third quarter, the company’s investing activities included $131 million in capital expenditures.
UFP Industries’ investments in innovation and acceleration are poised to yield greater results in the upcoming periods. It is exploring intellectual property, technology and process improvement acquisitions and ventures through Innovation Fund, which is designed to get new products at an earlier stage of development and enable faster commercialization and scaling.
For 2023, the company aims capital expenditures in the range of $175-$200 million, considering its focus on expanding the capacity to produce new and value-added products.
Zacks Rank & Key Picks
UFP Industries currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks that investors may consider from the Zacks Construction sector.
Acuity Brands, Inc. (AYI - Free Report) currently flaunts a Zacks Rank #1 (Strong Buy). AYI delivered a trailing four-quarter earnings surprise of 12%, on average. The stock has declined 2.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for AYI’s fiscal 2024 sales and EPS indicates a decline of 3% and 4.7%, respectively, from a year ago.
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It has surged 267.7% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and earnings per share (EPS) indicates growth of 30.6% and 156.7%, respectively, from the previous year.
Construction Partners, Inc. (ROAD - Free Report) presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 10.6%, on average. Shares of ROAD have rallied 36.7% in the past year.
The Zacks Consensus Estimate for ROAD’s fiscal 2024 sales and EPS indicates an improvement of 14.6% and 47.1%, respectively, from the prior-year levels.