UFP Industries, Inc. (NASDAQ:UFPI) Q3 2022 Earnings Conference Call October 20, 2022 4:30 PM ET

Company Participants

Dick Gauthier - VP, Corporate Communications and IR

Matt Missad - CEO

Mike Cole - CFO

Conference Call Participants

Ketan Mamtora - BMO Capital Markets

Reuben Garner - Benchmark Company

Stanley Elliott - Stifel

Kurt Yinger - D.A. Davidson

Julio Romero - Sidoti

Jay McCanless - Wedbush Securities

Operator

Good day, and welcome to the Q3 2022 UFP Industries, Inc. Earnings Conference Call and Webcast. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker, Mr. Dick Gauthier, Vice President of Communications and Investor Relations. Please go ahead, sir.

Dick Gauthier

Welcome to UFP Industries Third Quarter 2022 Conference Call. Hosting the call today are CEO, Matt Missad; and CFO, Mike Cole. Matt and Mike will offer prepared remarks and then answer your questions. This conference call is available simultaneously in its entirety to all interested investors and news media through our webcast at ufpi.com. A replay will also be available at that website.

Before I turn the call over to Matt Missad, let me remind you that today's press release and presentation include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from the company's expectations and projections. These risks and uncertainties include, but are not limited to, those factors identified in the press release and in the filings with the Securities and Exchange Commission.

I will now turn the call over to Matt Missad.

Matt Missad

Thank you, Dick, and good afternoon, everyone. Our top story this week, the [indiscernible] ousted the Dodgers, the Buffalos won their first game and Tennessee upset Alabama. Huge surprises all that some gamblers might love. Meanwhile, it's never a gamble to expect the UFP team to work together to commit to excellence and to serve our customers to achieve a new record for sales and profits in the third quarter. .

And with trailing 12-month sales of $9.7 billion, we are just short of our long-term target of $10 billion in sales. Since we plan to stay on offense, we will need to formulate new goals for 2023 and beyond. I'm extremely proud of the UFP teammates who love a difficult challenge and historically exceed the target. In fact, we've built this company to challenge the conventional wisdom and to prove doubters wrong as over our history, we have found ways to perform in spite of obstacles in our path.