Thank the and year-end and morning, you, thanks efforts team, quarter ], call.
Like year, George [ our for our earnings year we XX-year posted sales the of everyone. for Costanza joining our the goal Dick, we history. but Thank short XXXX third fourth of you best to and stopped profit our good in
through market, have our to As is measure lumber outsized the constraints supply our XXXX of XXXX abnormal best to described the and XXXX before, from performance we way to go without analyze progress. and demand back QX
would XXX%, team of then that in of we began EBITDA and just or XXXX, and We EBITDA in completed said our by goals, XX.X% by of what $X.X but and sales grow would we million, of margin. XXX%, our billion, those EBITDA margin. new achieved. We that exactly that's $X.X X.X% For reported with EBITDA an we a structure X $XXX and lofty billion, we sales years, margins XXX% have were sales XXXX, EBITDA had we million, by and improve if $XXX.X XXXX predicted EBITDA
Lions, end. good the years and are well, performed we're but a there we had better at know the Like year, Detroit ahead. who disappointed We
Our forecast the well flat an our and We is relatively for expected as inconsistent which with which not Nonetheless, aligned, data difficult. plan based view on is of makes forecasting overall are year demand family XXXX on expected for range follows. environment sales XXXX. down be from to unit slightly family. up. to plan down to slightly market new aggregate slightly The approximately slightly home in to be X/X is We and up multifamily between single single overall for mix a construction
January trend cited remodel were a XXXX, from of expectations, we but saw $X.XX XXXX units starts down We being commonly again below with weather factor. up weather to in expected decline In slightly to is it million factor. expected, a be fourth saw housing down slightly cited XXXX, over with a and repair in the annualized an as XXXX. quarter and January
XXXX. January trended down and to in it an index, bringing however, X% QX XXXX, expected is Purchasing XXXX, down to Managers to the be Index The saw from in during uptick X% neutral. of closer
an federal XXXX, Interest which expectation be markets. current cuts during likely the impact rate in at move rates to capital to X year. the trillion in some XXXX, are on $X.X projected is down The point is and will deficit have expected
and budgets acknowledge our next economic into these plans for forecasts years. them only incorporate the can X We and
control. control. out areas While of to market we our mindful focus attitude keep our to Regardless can remains factors succeeding are on of factors, is these forward, we keep our of conditions, macro moving despite
be in years, the exited. XXXX lessons had theme, internal make improve our We XXXX to and Our is as operations it or better. in take goal from underperforming in prior that expressed will
drive costs opportunities each and will line of to actions improve business. transportation, have our that in to we bottom We sales, pursue or marketing, purchasing reduce manufacturing better area From performance. efficiencies
strong always, years company As Providing a shareholder team, to can excel which are our also a stronger, requirement, shareholders mission. aligned resilient value in come. our many completely for who goal is create more build long-term and and is to a are the teammates
Of had course, aggressively runways. and organic to through several our XXXX. M&A we central acquisition component, growth remain or is opportunities will key we growth, Acquisitions our Whether a during strategy. pursue
to future Spain, the muted in performance unable on others, more challenges Our international view and to of we hockey our but realistic group view. versus anticipated due primarily close completed an based acquisition were target's valuation stick
we The and the growth several targeted to X in organically. last planned new markets. allowed our will the build us over new to projects growth, with model, unable geographic are has acquire On XXXX reasonably strong we years have side, grow for and operations organic capital XXXX, line invested opportunities for in acquisition if performance several targets in we in priced
this the decision. to investment on key Return is
request units which For from our to for and million, investments product targets at acquire as have automation, marketing, well capacity fair $XXX as well markets totaled unable been example, ROI. in over a our XXXX we new business for technology, capital includes where
growth fiscally and stay creation. using support will We aggressive our operationally balance value sheet and conservative to our
with outlook. Retail review We'll and let's UFP Solutions. Now segment performance start
as self-distributor, DIY well consumer a for professional our value-added seller products and contractor. provide the As manufacturer, as solutions
products. and Will and on Schwartz, of results. This largest build Solutions, our success significant by has it segment volume, segment sales the President is the worked Our has synergies well scaling creating with his outperform to opportunities XXXX for and new of Retail existing team and
gain Deckorators line in marketplace. Our trust to continues recognition the product and
in and Northeast. investing add the capacity manufacturing to grow additional to are We
behind its line. expanded highlight product has the technology. efforts, Surestone In advantages efforts the technology as addition marketing new some this to and mineral-based patented offerings to composite marketing product sub-branded Deckorators unique exciting of Expect
installers durability professional The installers a of grown homeowners Surestone Recently The added sustainability. us continue allow and XXX, among Deckorators planned and the be to. its to quickly technology manufacturing to certified additional advocates great favorite aesthetics, capacity to has future is products. plus number products will launch over in for they for Surestone becoming and
consolidation Surestone also we in wood our some composite expect space. technology, grow plastic we While the
to and units and with those more utilization development. efficiencies synergies Moving creating ProWood are preservative and Sunbelt treating
ProWood development FR well into products. accelerate to treated development wood new company lumber is The continue retardant preserve, of to to PFS as as and sales fire innovation to protect more moving grow. sales chemical group our Our strengthen drive external the formulations
basic UFP category as Edge as pattern to we waned and for to from the products products. XXXX, transition overall struggled siding, in products demand more commodity-type value-added and continue trim
in restructured unit XXXX We business expect of and beyond. this better have and management substantially performance
to category. technology in this Surestone product there believe opportunities deploy are also our We
more $XXX continues of serve continue platform million we'll many e-commerce grow XXXX, grow and our We online this with in than Our manufactured customers to our out capacity. and direct recorded of to sales of fulfillment items.
and build and customer Our Retail find, select new provide and distribution network the innovative expand right simple: harness Solutions and opportunities; national and products solutions; value. to expertise best to strategy brands; utilize our the is provide reach, purchasing
expect outlook market to XXXX The the year. ranges retailers up slightly down XXXX. gain for in retail box big is The from A expected to in and rebound to XXXX share slightly for down was in professional many they of in more country. January, part [indiscernible] the parts Solutions as a weather our contractors. small In ago versus year conditions performance on Retail focus due
with and led unit remained segment, to Patrick on good site-built Benton, projects. multifamily a by business Construction resilient, of the Moving mix single-family the
and are slightly this 'XX be the actual a for XXXX in in million in and rebound from starts is rate optimism XXXX, later down [ slightly While to ] year projected 'XX. up starts X.XXX there to cuts
Our which balanced approach serving more single-family multifamily as we benefit helps resilient to serve, tend be the continue as to well the markets and us in position markets in-migration. well country the from in that
to to forward. positioned the and actual we'll market continue to We adjust going market are anticipated well needs, meet conditions
new note the build construction also over multifamily We rental XX% are market and units. of to rent is is in units included, that growing when all
expect rates, decline X with to in year their developers some wait coupled until projects. months begin to in X construction We later new higher to the cause interest rates multifamily in the on may that forecasted
Build. the Recreational line have very The inventory network on their to and remain over long worked affordable dealer expecting a similar are Built. to it option. Factory this Site slow, most housing to expecting is year. vehicles through Built see a the business been as in term bullish have unit modest but later remains trend housing We Moving Factory upswing
consolidated XXXX, locations XXXX. overseas. group This improvement We continued and and domestically result line to manufacturing capacity X small is of pipeline saw to market industry business, view the several our our [ share portion as a within have in recreate Construction X recovers. a in our or considerable manufacturing in While in and we bottom gain into grow better products forecasting help we ] recreate balance us Commercial has main and has are
that And to serve markets. we XXXX were locations have prospects stronger The in existing expand impacted or growth in in new space, markets concrete the ramp-up to our results forming added the more these sticks of capabilities of improvement panels. we products line in towards new operations. XXXX, results, expect on growth distribution But bottom less significant and and in focus by value-added new
expectation back catch-up annual slightly up the in starts Overall, slightly construction half to were for our XXXX of our so down. is target. will forecast hitting important year to a be than lower January housing
all customers means areas of In packaging. demand, biggest the less are seen lower difficult. the we which have Many customers economy Packaging the segment, Worthington, looking and evaluating for seen for our costs as is Scott also headwinds. led These in more by have market concessions demand
of these proposition excess not with consolidating internal While well eliminating lower we certain level are and costs production. our expensive is to less on Packaging evaluating to hubs, overall our continue for is value-added challenges its solutions efficiencies we team immune seek focusing The believe strong, production yet in manufacturing customers. value a still and capacity, as and
have that growth. design, markets create and Packaging Increasing agriculture, to share to The testing pursue, tremendous customers expertise and remains glass. creativity. and engineering, and we equipment, moving very analytical automotive, term, furnishings, helped leaves of more including has our modest horticulture appliances, opportunity value to our market Longer light heavy fragmented, diverse opportunities solutions who bring industry capabilities level and for and a storage, end-customer
heavy packaging expand to excellent domestically continue Strip steel mixed such alternatives for our and packaging has products, specialty as and and both geographies, and Pak, items reusable new new material to we internationally. Our facility applications, added offerings
PalletOne volume a XXXX. in saw in decline
inventories, As large on pallets. used more are rightsize operators their pallet pool relying they
more environment a to return normalized to expect later year. this we However,
growth the be expanding unit XXXX. second As poised for its strong result, and to This half. half footprint stronger is XXXX and national is first of than a the XXXX business in is projected
there While remains long-term will challenges, strong. Packaging be outlook for the UFP economic
down be in development central will and goal testing capabilities state-of-the-art be XXXX in a sales we invest Overall, of combining in automation, slightly to in and into becoming innovation and to And research, and global provider. a expect XXXX. packaging XXXX. unit continue acquisition to will solutions advance rebound We XXXX we to our our location
On solutions elsewhere, the our offerings. focused total Europe Strip Australia, our other capabilities front, and is in enhance in packaging international markets, in and and product packaging corrugated products structural to multinational team and pallets Pak branded Asia The our on extending our and heavily Mexico, India customers.
sales our was which launched foreign Our international this earlier capabilities much year. sourcing new and with will timber-based enhancing technology, efforts worldwide domestic we and that both like customers, the be create for product
overall economic the outlook Clearly, mixed. is
While inspire moon, to and rocket We've unbridled success. better before, the team discouraged. Odysseus we ride optimism, like certainly it prepared landers there's been does no to create here the aren't
We might add twist, you Bring we and "Don't can singing, Lynn down. bring Me can't Jeff a Down," me hear
of areas focus all, our in and departments interest of new first products. are, items other Some
New were in numbers lumber targets for were and market $XXX quarter prices. year, below fourth the Both product to for were million. sales our due the part $XXX lower year million, for the
of focus drive have new we products definition services. products as value-added XXXX, bar and on we raised For on the more the
We've have emphasis not we but advantage. For products that have a or UFP, new were investment and target. return products, new placed eliminated sustainable competitive on on innovation increased to the many more do
for With lowering the standard, are to the sales $XXX higher for we product new XXXX. forecast million
will be could million as to products sell which XXXX. items and $XXX We still marketing new, up estimate qualify those the in and no longer selling
market to rapid for faster in synergy. investments product iteration ideas the by scale and innovation new accelerator speed Our assist and
products several tested, and have in new developed will XXXX. seen bring to we market We which expect XXXX during we
late-stage our we pipeline either of types commitment has Our commercialization investments [ of investments The projects. in fulfill for the million other or opportunities next team InnovX Fund ] the early-stage projects years. in has completed of XXXX over as X $XXX these several few development
expected additional XXXX. is market feet with range, The lumber the XXXX, trading in In the billion Purchasing. are remain levels. mills line capacity more within historical in than bringing to of X more board on
declined less at manage margins. has lumber January, mills the demand efficient supply will production or taking Do mills by that that expect market We side the to offline note steadily. match their in market
Transportation.
XXXX, to technology, gain work our transportation to centralize reduce efficiency and our we invested and costs. improved During in overall functions
the come also rollout we uncovered technology As which with and areas, changes, have addressed, challenges, be has new of model. will being our which most major with are improved some by
have to core XXXX. the expect systems implemented We fully in
human X%, December government. many capital front, the lack end up end space. the from the jobs note explain XXXX. rate of We of current the at at the January was note of U-X the care in in created are On of unemployment that help health manufacturing that current growth we the being and nonprofit These factors X%
levels and are evaluating consistently schedules Our staffing teams. facilities our production optimize to
keep strong. that workforce strong to deemphasizing the workers. we make easy our ensure areas segments on need while that performers among for team our remain We those a from transfers our sure also seeking to slowdown We temporary balance
recruit continue train, skills growing keep We and hire and our to also talent. to
from practice augment a long us and history have We hiring of [indiscernible] talent by within, to improve. outside and promoting we this help
XXXX honored all and to Business up UFP and the share to extra current in communities we the of in employees bonuses million These totaled employer And unique the choice to compensation and teammates. $XX we our their our knowledge School move are as our employees. in performance with be The bonuses in of serve, with share continues to quest to prospective opportunities rewards for over continue full-time enhance we skills organization. and add hourly
effectiveness to possible. spend ensure product manner efficient we value-added we categories, continue grow the are to sales efficiency enhance to in need In our space, we refine, the measure recognize as and the of and the driving marketing most marketing that
small with and our to We and costs are robust and teams teams business our data-driven the marketing leverage units team results more to to and central provide provide process a timely creating a leadership better segments. marketing to
billion, have sales of of path XX.X% goal not a acquisitions. a for over margin. also We X-year sets targets with material margins, developed $XX stretch EBITDA charts higher strategic plan, It which EBITDA including to a
Now I'd information. review Mike to like the to turn over to Cole financial it
