ĢtvƵ Industries / Thu, 13 Aug 2026 22:20:07 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 /wp-content/uploads/2024/12/ufpi_favicon-150x150.png ĢtvƵ Industries / 32 32 ĢtvƵ Industries to Expand Structural Packaging Capacity with New South Carolina Manufacturing Facility /ufp-industries-to-expand-structural-packaging-capacity-with-new-south-carolina-manufacturing-facility/ Thu, 13 Aug 2026 22:20:06 +0000 /?p=4625 GRAND RAPIDS, Mich., Aug. 13, 2026 /PRNewswire/ — ĢtvƵ (Nasdaq: ĢtvƵI) today announced plans to establish a new ĢtvƵ Packaging manufacturing facility in Cherokee County, South Carolina, expanding its Structural Packaging capacity and strengthening its ability to serve national industrial customers with custom, value-added packaging solutions. The project is expected to create 136 new jobs over […]

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]]> GRAND RAPIDS, Mich., Aug. 13, 2026 /PRNewswire/ — ĢtvƵ (Nasdaq: ) today announced plans to establish a new ĢtvƵ Packaging manufacturing facility in Cherokee County, South Carolina, expanding its Structural Packaging capacity and strengthening its ability to serve national industrial customers with custom, value-added packaging solutions.

The project is expected to create 136 new jobs over five years and represents an investment of approximately $5.31 million in real property, machinery and equipment. The facility will manufacture wood packaging products and strengthen ĢtvƵ Packaging’s ability to serve industrial customers, especially those with highly-technical needs, across the Southeast and beyond.

“This project is a strong example of how we are investing in our higher-margin core businesses while expanding the capabilities that differentiate ĢtvƵ in the market,” said Will Schwartz, President and CEO of ĢtvƵ Industries. “We’ve discussed the significant progress our Structural Packaging business unit is making with strategic customers across the industrial economy. This investment supports that strategy. It gives us added capacity, expands our geographic reach and enhances our ability to deliver highly customized solutions that help customers solve difficult packaging and logistics challenges. It also gives us the opportunity to build a team the ĢtvƵ way — by developing people, promoting from within and creating careers that last. South Carolina’s strong manufacturing base, skilled workforce and values-driven business environment make it the right fit for our company and our culture.”

ĢtvƵ Packaging serves industrial, manufacturing and logistics customers with a broad portfolio of packaging products and services, including structural packaging, pallet solutions and protective packaging. Its Structural Packaging business designs and manufactures custom wood, steel, foam and mixed-material packaging solutions for customers with demanding shipping, storage and product-protection requirements.

“Structural Packaging is one of the clearest examples of where our scale, technical knowledge and customer relationships come together,” said Scott Worthington, President of ĢtvƵ Packaging. “Our teams are not simply selling boxes or crates. They are working with customers to understand what they make, how it moves, what risks it faces in transit and how we can design a better solution. This facility and the local South Carolinians who run it will help us support large, national customers with the consistency, engineering support and responsiveness they need as their own operations grow.”

The planned South Carolina facility will position ĢtvƵ Packaging closer to important industrial customers and transportation corridors while increasing production flexibility across its national manufacturing network. It also reflects ĢtvƵ Industries’ continued focus on value-added products, operational excellence and disciplined capital deployment.

“This is exactly the type of opportunity we are focused on,” Schwartz continued. “It strengthens a core business, supports above-market growth and reinforces our long-term goal of improving margins and returns by providing more value to our customers, who are often among the nation’s top innovators. We are grateful for the support of Cherokee County and the State of South Carolina, and we look forward to building a strong team and operation in the region.”

The project remains subject to customary approvals and finalization of related agreements.

About ĢtvƵ

ĢtvƵ is a holding company whose operating subsidiaries, ĢtvƵ Packaging, ĢtvƵ Construction and ĢtvƵ Retail Solutions, manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Michigan, with affiliates in North America, Europe, Asia and Australia. For more about ĢtvƵ Industries, visit .

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. These statements are based on management’s current expectations, estimates and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Forward-looking statements include, but are not limited to, statements regarding anticipated investment, job creation, capacity expansion, customer demand, growth opportunities, operational capabilities and strategic benefits. These statements do not guarantee future performance. ĢtvƵ Industries undertakes no obligation to update forward-looking statements except as required by law.

SOURCE ĢtvƵ

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]]> ĢtvƵ Industries Expands PalletOne’s northeast Footprint Through Acquisition of John Rock, Inc. /ufp-industries-expands-palletones-northeast-footprint-through-acquisition-of-john-rock-inc/ Tue, 05 May 2026 16:26:30 +0000 https://ufpidev.wpenginepowered.com/?p=4475 Grand Rapids, Mich. — ĢtvƵ Industries (NASDAQ: ĢtvƵI) today announced the acquisition of the operating assets of John Rock, Inc., a new pallet manufacturer headquartered in Coatesville, Pa., for approximately $48 million.

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]]> Grand Rapids, Mich. — ĢtvƵ Industries (NASDAQ: ĢtvƵI) today announced the acquisition of the operating assets of John Rock, Inc., a new pallet manufacturer headquartered in Coatesville, Pa., for approximately $48 million. The transaction fills a key gap in PalletOne, Inc.’s geographic reach and strengthens ĢtvƵ Packaging’s ability to serve national customers with a presence in the northeast region.

John Rock, a subsidiary of Kamps Pallets, designs and manufactures new pallets across Pennsylvania and Virginia. ĢtvƵ Industries is purchasing three of the four operating locations: Coatesville, Pa., Mifflintown, Pa. and Bowling Green, Va. The remaining sawmill at Dilwyn, Va. will remain with the seller. The acquisition of the three locations adds approximately $82 million in annual sales and brings nearly 250 employees into the ĢtvƵ family.

This acquisition strengthens a core business for ĢtvƵ Industries and expands PalletOne’s scale in a strategically important geography. The transaction includes all key operating assets of John Rock, allowing for immediate manufacturing and service continuity while providing a strong platform for operational improvement and long‑term growth.

“This acquisition is fundamentally about strengthening our core packaging business and expanding our footprint in a region where we see long‑term opportunity,” said Will Schwartz, Chief Executive Officer of ĢtvƵ Industries. “John Rock has built a well‑established pallet manufacturing operation with strong customer relationships and experienced teams. Bringing this business into PalletOne enhances our ability to serve customers across the northeast and positions us to unlock value through operational synergies and scale.”

The acquired operations will be integrated into PalletOne’s existing manufacturing network, creating opportunities to improve efficiency, enhance service levels, leverage ĢtvƵ’s procurement and operational capabilities, and growth with national customers — while maintaining the local expertise and customer focus that has defined John Rock’s success.

“John Rock is a well‑known name in the northeast pallet market, with a strong team and a diverse customer base,” said Scott Worthington, President, ĢtvƵ Packaging. “We are excited to welcome their employees to PalletOne and look forward to building on the foundation they have established as we integrate the business into our network.”

The acquisition underscores ĢtvƵ Industries’ continued focus on investing in its core businesses, expanding manufacturing capacity in key markets, enhancing its ability to serve national customers, and strengthening the competitive position of its operating companies across packaging and industrial markets.

Investor Relations Contact:

Stanley Elliott, Director of Investor RelationsStanley.Elliott@ufpi.com

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]]> ĢtvƵ Industries Expands Pallet Manufacturing Network Through Acquisition /ufp-industries-expands-pallet-manufacturing-network-through-acquisition/ Tue, 28 Apr 2026 17:55:19 +0000 https://ufpidev.wpenginepowered.com/?p=4471 Grand Rapids, Mich. — ĢtvƵ Industries (NASDAQ: ĢtvƵI) today announced the acquisition of the operating assets, including real estate, of Berry Pallets, Inc., a pallet manufacturer based in Waseca, Minnesota for approximately $20 million. The transaction expands ĢtvƵ Packaging’s pallet manufacturing footprint and strengthens ĢtvƵ Packaging’s ability to serve customers across the upper Midwest. Berry […]

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]]> Grand Rapids, Mich. — ĢtvƵ Industries (NASDAQ: ĢtvƵI) today announced the acquisition of the operating assets, including real estate, of Berry Pallets, Inc., a pallet manufacturer based in Waseca, Minnesota for approximately $20 million. The transaction expands ĢtvƵ Packaging’s pallet manufacturing footprint and strengthens ĢtvƵ Packaging’s ability to serve customers across the upper Midwest.

Berry Pallets designs and manufactures new pallets from its facility in Waseca. The acquisition adds approximately $23 million in annual sales and brings 75 experienced employees into the ĢtvƵ family, further deepening ĢtvƵ Packaging’s geographic presence in a key region.

This acquisition strengthens a core business for ĢtvƵ Industries and positions ĢtvƵ Packaging for continued growth in the wood-based industrial packaging market. The transaction provides immediate capacity and long-term optionality to serve a growing customer base.

“This acquisition is fundamentally about strengthening our core business and adding capacity where we see long-term opportunity,” said Will Schwartz, CEO of ĢtvƵ Industries. “Berry Pallets has built a well-run operation with a talented team, loyal customers and a track record of consistent performance. Bringing them into the PalletOne network expands our presence in the upper Midwest, enhances our ability to serve national customers across the region, and is consistent with our strategy of disciplined investment in businesses that align with our strengths.”

The Berry Pallets facility will be integrated into ĢtvƵ Packaging’s existing pallet manufacturing network, creating opportunities to leverage ĢtvƵ’s operational scale, procurement advantages, and national customer relationships — while maintaining the local expertise and customer focus that has defined Berry Pallets’ success.

“We’re excited to welcome the Berry Pallets team to our ĢtvƵ family and build on their strengths and experience,” said Scott Worthington, President, ĢtvƵ Packaging. “This represents a strong strategic fit for ĢtvƵ Packaging and positions us well for continued success, greater services to our customers and future opportunities throughout the region.”

The acquisition underscores ĢtvƵ Industries’ continued focus on investing in core businesses, expanding manufacturing capacity to serve national customers, and strengthening the competitive position of its operating companies across packaging and industrial markets.

The transaction is expected to close on or around May 18, 2026.

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]]> ĢtvƵ Construction President Patrick Benton Accepts Key Role in ĢtvƵ Industries’ Future, Mike Ellerbrook to Assume Role as President of ĢtvƵ Construction /ufp-construction-president-patrick-benton-accepts-key-role-in-ufp-industries-future-mike-ellerbrook-to-assume-role-as-president-of-ufp-construction/ Wed, 22 Apr 2026 19:59:44 +0000 https://ufpidev.wpenginepowered.com/?p=4461 As ĢtvƵ Industries (NASDAQ: ĢtvƵI) accelerates its acquisition strategy, President and CEO Will Schwartz today announced the creation of a new executive role designed to maximize the value of newly acquired businesses and strengthen the performance of existing operations across the enterprise.

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]]> Grand Rapids, Mich. — As ĢtvƵ Industries (NASDAQ: ĢtvƵI) accelerates its acquisition strategy, President and CEO Will Schwartz today announced the creation of a new executive role designed to maximize the value of newly acquired businesses and strengthen the performance of existing operations across the enterprise.

The newly created position of Executive Vice President of Operations Integration will be filled by current ĢtvƵ Construction President Patrick Benton, effective July 1. Throughout his 33- year career at ĢtvƵ Industries, Benton has firmly established himself as an expert operator with rich experience in all three of ĢtvƵ Industries’ core segments.

“As ĢtvƵI becomes more active and disciplined in M&A, we’re intentionally pursuing strategic acquisitions that are well‑positioned for growth and capable of delivering stronger long‑term returns,” said Schwartz. “Patrick has a proven track record of maximizing operations, driving efficiencies, and leading complex integrations, all while building a strong culture. He’s a highly effective, well‑rounded operator with experience across all three segments. With this role, we’ll drive greater value from our growth opportunities and strengthen our operational resiliency across the enterprise. This role is laser‑focused on results.”

“As we grow the ĢtvƵ business, I am excited to get synergy plans developed quicker and getting new companies fully integrated into our winning ĢtvƵ culture right away,” said Benton. “Getting to both the start and  finish line quicker will make a big difference in maximizing the value of our acquisitions.”

Benton joined ĢtvƵ Industries in 1993 as a production trainee in Saginaw, Texas. He held positions of increasing responsibility, eventually becoming  Vice President of Operations (South Texas) in 2008. He was subsequently named Executive Vice President of ĢtvƵ Eastern Division-North in 2014 and president of the Northern Division in 2017.

In 2019, as part of ĢtvƵ Industries’ reorganization to focus on end-markets, he was named president of ĢtvƵ Construction.

He is a native of Texas and currently resides in Charlotte, N.C. with his wife. They have 3 adult children.

Ellerbrook Named New ĢtvƵ Construction President

Schwartz also today named current ĢtvƵ Site Built Executive Vice President Mike Ellerbrook to the position of President of ĢtvƵ Construction, also effective July 1.

“Beyond growth and efficiency, innovation and talent are essential to our long-term success, and Mike Ellerbrook is a master of both,” said Schwartz. “Mike is an exceptional team builder who develops leaders from within, has deep industry relationships, and brings a vision for excellence that makes him the ideal choice to lead our Construction segment. Like many of ĢtvƵ’s leaders, Mike has come up through this company, and that experience gives him a deep understanding of our culture, our people, and what it takes to win.”

“Our people and our culture are everything. They’re what make ĢtvƵ the best place to work and the strongest company in the business,” said Ellerbrook. “I want to thank Patrick for his leadership, mentorship, and friendship. He’s been a trusted ally and counselor every step of the way, and I wouldn’t be here without him. As President of ĢtvƵ Construction, my focus is simple: grow the business, create opportunities, and make sure our people grow and advance right along with it.”

Ellerbrook began his career with ĢtvƵ Industries just before his 19th birthday at ĢtvƵ’s Belchertown location. He ascended the leadership ranks by serving in both sales and operations roles, advancing through roles of increasing responsibility, until being named Vice President of the Northeast Region in 2014 and subsequently Executive Vice President of ĢtvƵ Site Built in 2020.

 In that role he has brought alternative materials, such as steel and aluminum, to the business unit’s  traditional wood component operations. Most recently he oversaw the launch of Frame Forward Systems, Site Built’s concept-to-construction prefabricated wood brand.

He holds a business degree from the University of Southern Maine. Ellerbrook is a Boston native where he resides with his wife and 2 children.

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]]> ĢtvƵ Industries Expands ٱ𳦰ǰٴǰ® Composite Decking Capacity Through Acquisition /ufp-industries-expands-deckorators-composite-decking-capacity-through-acquisition/ Mon, 06 Apr 2026 18:01:53 +0000 /?p=4459 ĢtvƵ Industries today announced the acquisition of Oldcastle APG’s MoistureShield decking operating assets, a strategic transaction that significantly expands ٱ𳦰ǰٴǰ® wood-plastic composite (WPC) decking capacity.   

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]]> April 6, 2026

Grand Rapids, Mich. — ĢtvƵ Industries today announced the acquisition of Oldcastle APG’s MoistureShield decking operating assets, a strategic transaction that significantly expands ٱ𳦰ǰٴǰ® wood-plastic composite (WPC) decking capacity.   

This acquisition strengthens a core business for ĢtvƵ Industries and positions Deckorators for long-term growth in the outdoor living market. The purchase further enhances Deckorators’ product portfolio with the acquisition of manufacturing assets, inventory, certain product brands and proprietary CoolDeck® composite decking technology— which is designed to reduce heat absorption compared to standard composite decking.  

More broadly, the added capacity enables Deckorators to scale production—positioning the brand to better serve customers and support new and innovative product introductions in this growing and attractive market. 

“This acquisition is fundamentally about our commitment to strengthen our core business and adding capacity to execute our growth plans,” said Will Schwartz, CEO of ĢtvƵ Industries.  “By adding proven manufacturing assets and complementary technologies to the Deckorators business, we are removing constraints, expanding capacity and putting the brand in a stronger position to meet demand. One of our strategic objectives is to expand Deckorators’ production capacity geographically. This was an attractive investment opportunity that met our internal return targets and will allow us to meet these growth plans ahead of greenfield expansion opportunities.”  

The acquired operations will be integrated into Deckorators’ existing manufacturing network, enhancing operational resilience and creating opportunities to optimize production across locations, while selectively incorporating additional composite technologies into the Deckorators lineup. Oldcastle APG will retain and continue operating their RDI® Railing and Catalyst™ Fence Solutions brands. 

As demand for composite decking continues to rise, the added capacity allows Deckorators to better support national retail partners, dealers and contractors while maintaining focus on innovation, quality, and service. 

 “This acquisition allows us to support customers more effectively today while creating the runway we need to expand our product mix and grow the Deckorators brand over the long term,” said Landon Tarvin, President of ĢtvƵ Retail Solutions, which includes the Deckorators brand in its portfolio. “The facility provides immediate capacity for additional sales with opportunities to add capacity in the future as sales growth objectives are achieved. We expect that with both this investment and additional capital investments at this location, we will have the ability to double Deckorators’ overall  capacity of WPC to a total of $200M by 2027.” 

The acquisition underscores ĢtvƵ Industries’ continued focus on investing in core businesses, expanding capacity in high-growth categories, and strengthening the competitive position of its leading brands. 

Investor Relations Contact:  

Stanley Elliott, Director of Investor Relations  

Stanley.Elliott@ufpi.com  

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]]> Introducing Frame Forward Systems: ĢtvƵ Site Built Tackles Construction Industry’s Time, Cost and Labor Crisis /introducing-frame-forward-systems-ufp-site-built-tackles-construction-industrys-time-cost-and-labor-crisis/ Tue, 17 Feb 2026 20:03:28 +0000 https://ufpidev.wpenginepowered.com/?p=4194 ĢtvƵ Site Built, a leader in single family, multifamily and commercial structural components, today announced at the 2026 NAHB International Builders Show a vertically integrated structural system that will revolutionize onsite construction.

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]]> ORLANDO, Fla., Feb. 17, 2026 /PRNewswire/ — ĢtvƵ Site Built, a leader in single family, multifamily and commercial structural components, today announced at the 2026 NAHB International Builders Show a vertically integrated structural system that will revolutionize onsite construction.

“Construction really hasn’t changed in over 100 years. It takes too many people and too much time and waste to meet the nationwide need for affordable options,” said Executive Vice President of ĢtvƵ Site Built Mike Ellerbrook. “Frame Forward Systems™ cuts past those pain points, while leveraging our scale and decades of experience in the construction industry, to deliver high-quality, precision-manufactured structural components to the marketplace.”

 turns offsite expertise into an extension of the job site by delivering a complete system of wood panels, floors, trusses, stairs, and more—designed in-house and precision-assembled in ĢtvƵ Site Built’s 24 strategically located facilities across the country.

More than components, Frame Forward Systems™ offers builders, general contractors, architects and framers collaborative design and engineering support, resulting in high-quality products and services delivered to the job site. Frame Forward Systems™ is backed by TrussTrax®– our proprietary mobile, interactive platform— for access to product resources and project management tools. These services align to create an integrated off-site system that delivers speed, safety and savings across the board.

“Hundreds of thousands of trade jobs are unfilled, leading to longer construction timelines across the country,” Ellerbrook said. “With new technology and a new generation of tech-driven builders emerging, offsite manufacturing is the future of construction.”

ĢtvƵ Site Built is a business unit within the ĢtvƵ Industries (Nasdaq: ĢtvƵI) family of companies whose brand portfolio also includes Endurable Building Products and PIVOT Systems.

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]]> ĢtvƵ Industries Features Innovative, Solutions-Focused Products at NAHB 2026 Builders Show /ufp-industries-features-innovative-solutions-focused-products-at-nahb-2026-builders-show/ Mon, 16 Feb 2026 20:11:00 +0000 https://ufpidev.wpenginepowered.com/?p=4197 ĢtvƵ (NASDAQ: ĢtvƵI) and its family of companies showcased a collection of new products and brands at the 2026 NAHB International Builders Show aimed at providing customers with innovative time- and cost- saving solutions and driving the construction industry forward.

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]]> ORLANDO, Fla., Feb. 16, 2026 /PRNewswire/ — ĢtvƵ (NASDAQ: ĢtvƵI) and its family of companies showcased a collection of new products and brands at the 2026 NAHB International Builders Show aimed at providing customers with innovative time- and cost- saving solutions and driving the construction industry forward.

Home with Arris exterior trim made with Surestone technoloy

The company’s premier retail brand, ٱ𳦰ǰٴǰ® (booth W2573), continues to redefine outdoor living spaces. The Deckorators booth at IBS featured both the  decking line— manufactured with Deckorators’ proprietary  – and the brand’s new  decking line, built with a fire-resistant core and featuring a Class B flame-spread rating.

Also featured is ProWood’s new TrueFrame™ Joist, a kiln-dried after treatment (KDAT) framing solution designed for use in deck substructures. TrueFrame Joist is lighter than laminated veneer lumber (LVL) or steel and helps reduce cupping, twisting, and warping for cleaner cuts and greater stability.

Edge (booth W2567), a leader in exterior trim and siding products, exhibited its mineral-based composite trim, Arris™, introducing to the category the first product of its kind. Using proprietary Surestone® technology, Arris trim is light, durable and resists the cracking and separation common in other PVC or wood composite trim products over time.

Finally, ĢtvƵ Site Built launched Frame Forward Systems (booth: W7389), combining offsite precision with onsite execution– wall panels, floor cassettes, roof trusses and stairs, all built accurately and delivered on time. Frame Forward Systems provides a system approach that delivers speed, savings, safety and service at every step of a project– from design through delivery.

“Our company has been a trusted industry leader for over 70 years. Today, we’re driving our business forward by bringing value-added, solutions-focused products to market that anticipate our customers’ needs and fuel innovation in our core markets,” said Will Schwartz, CEO of ĢtvƵ Industries. 

Home with Arris exterior trim made with Surestone technoloy

Edge brand logo

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]]> ĢtvƵ Industries Announces Quarterly Dividend /ufp-industries-announces-quarterly-dividend/ Fri, 13 Feb 2026 20:17:53 +0000 https://ufpidev.wpenginepowered.com/?p=4202 ĢtvƵ (Nasdaq: ĢtvƵI), a leading manufacturer focused on delivering value-added products is pleased to announce that its Board of Directors has declared a quarterly cash dividend of $0.36 per share of common stock, payable on March 16, 2026, to shareholders of record on March 2, 2026.

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]]> GRAND RAPIDS, Mich., Feb. 13, 2026 /PRNewswire/ — ĢtvƵ (Nasdaq: ĢtvƵI), a leading manufacturer focused on delivering value-added products is pleased to announce that its Board of Directors has declared a quarterly cash dividend of $0.36 per share of common stock, payable on March 16, 2026, to shareholders of record on March 2, 2026.

The dividend represents a 3% increase over the March 2025 dividend and marks the 14th consecutive year of dividend increases.

The company is committed to delivering strong returns on investment to its shareholders through share price gains, cash dividends and targeted share repurchases.

ĢtvƵ

ĢtvƵ is a holding company whose operating subsidiaries – ĢtvƵ Packaging, ĢtvƵ Construction and ĢtvƵ Retail – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. For more about ĢtvƵ Industries, go to .

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]]> ĢtvƵ Industries to Host Fourth Quarter and Full Year 2025 Financial Results Conference Call and Webcast /ufp-industries-to-host-fourth-quarter-and-full-year-2025-financial-results-conference-call-and-webcast/ Tue, 27 Jan 2026 20:20:01 +0000 https://ufpidev.wpenginepowered.com/?p=4203 ĢtvƵ Industries (Nasdaq: ĢtvƵI) will announce fourth quarter 2025 results after the market close on Monday, February 23, 2026. A conference call to discuss these results will take place on Tuesday, February 24, 2026, at 9:00 a.m. Eastern Time, hosted by Will Schwartz, President and Chief Executive Officer, and Mike Cole, Chief Financial Officer.

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]]> GRAND RAPIDS, Mich.–(BUSINESS WIRE)–Jan. 27, 2026– ĢtvƵ Industries (Nasdaq: ĢtvƵI) will announce fourth quarter 2025 results after the market close on Monday, February 23, 2026. A conference call to discuss these results will take place on Tuesday, February 24, 2026, at 9:00 a.m. Eastern Time, hosted by Will Schwartz, President and Chief Executive Officer, and Mike Cole, Chief Financial Officer.

A live audio webcast of the call along with supporting materials can be accessed using the following link () or on the ĢtvƵ Industries Investor Relations website (). A replay of the call will be made available on the company’s website for at least 90 days.

Stanley Elliott
Director, Investor Relations
Direct: 616-364-6161 x7568

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]]> ĢtvƵ Industries Announces Third Quarter 2025 Results /ufp-industries-announces-third-quarter-2025-results/ Thu, 30 Oct 2025 15:33:40 +0000 https://ufpidev.wpenginepowered.com/?p=4159 GRAND RAPIDS, Mich.–(BUSINESS WIRE)–Oct. 29, 2025– ĢtvƵ (Nasdaq: ĢtvƵI) a leading manufacturer focused on delivering value-added products across its Retail, Packaging, and Construction segments reported results for the third quarter 2025. Will Schwartz, President and CEO of ĢtvƵ Industries commented, “Our third quarter played out largely as anticipated and reflective of the competitive environment we are seeing […]

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]]> GRAND RAPIDS, Mich.–(BUSINESS WIRE)–Oct. 29, 2025– ĢtvƵ (Nasdaq: ĢtvƵI) a leading manufacturer focused on delivering value-added products across its Retail, Packaging, and Construction segments reported results for the third quarter 2025.

  • Net Sales of $1.56 billion decreased by 5 percent due to a 1 percent decrease in price and a 4 percent decline in organic units.
  • Diluted earnings per share of $1.29 compared to $1.64 a year ago.
  • Net earnings attributable to controlling interest of $76 million compared to $100 million a year ago.
  • Adjusted EBITDA1 was $140.0 million in the quarter, or 9.0 percent of net sales compared to 10.0 percent a year ago.
  • New product sales were 7.6 percent of total sales.
  • Repurchased approximately $350 million in company shares year to date in 2025.
  • Reaffirming volume outlook across each business segment for the remainder of 2025.

Will Schwartz, President and CEO of ĢtvƵ Industries commented, “Our third quarter played out largely as anticipated and reflective of the competitive environment we are seeing across our end markets. Visibility remains limited, particularly in markets tied to residential construction; however, trends across the majority of our business units have shown signs of stabilizing, demonstrating the benefits of our balanced portfolio and the team we have in place. I’m proud of how our team has navigated these challenging market conditions with our adjusted EBITDA margin approximately 200 basis points higher than 2019 levels despite competitive pricing and weaker demand, startup costs associated with growth investments and substantial investments to build our Surestone brand. We plan to gain market share, strengthen return on capital, and achieve margin improvements. As part of this plan, we will have reduced structural costs by $60 million from 2024 levels by the end of 2026.”

Schwartz continued, “Looking ahead, we are driving innovation across the product portfolio and making strategic investments to create shareholder value. Our long-term capital plans remain aggressive, with a bias toward driving growth through investment in our most attractive opportunities. M&A remains a key component to our capital allocation strategy, and we have identified targets across each of our business units that complement our core strengths. Our robust financial position remains a competitive advantage enabling us to repurchase approximately $350 million of our shares through the end of October, while increasing our cash dividend year over year. Grounded in the strength of our team and business model, we remain focused on the strategies to grow our core, higher margin businesses, develop innovative new products and drive operational efficiencies across our network of plants. We are confident in our ability to continue executing as we move into next year.”

1Represents a non-GAAP measurement; see the reconciliation of non-GAAP financial measures and related explanations below.

Third Quarter 2025 Highlights

ĢtvƵ Consolidated

                  
(In thousands) Quarter PeriodYear to Date
  2025  2024 % Change2025  2024 % Change
NET SALES $1,559,627  $1,649,383 (5.4)%$4,990,520  $5,190,308 (3.8)%
GROSS PROFIT  262,681   298,412 (12.0)  843,611   987,233 (14.5) 
GROSS MARGIN  16.8 % 18.1%   16.9 % 19.0%  
NET EARNINGS  75,542   101,619 (25.7)  255,836   348,950 (26.7) 
ADJUSTED EBITDA  140,019   164,915 (15.1)  456,317   549,562 (17.0) 
ADJUSTED EBITDA MARGIN  9.0 % 10.0%   9.1 % 10.6%  
                  
PERCENTAGE CHANGE IN SALES:                 
ORGANIC UNITS  (4)%      (3)%     
ACQUISITIONS  —        —       
SELLING PRICES  (1)       (1)      

ĢtvƵ Retail

                  
(In thousands) Quarter PeriodYear to Date
  2025  2024 % Change2025  2024 % Change
NET SALES $593,985  $635,571 (6.5)%$1,989,592  $2,073,403 (4.0)%
GROSS PROFIT  80,222   93,055 (13.8)  275,257   320,939 (14.2) 
GROSS MARGIN  13.5 % 14.6%   13.8 % 15.5%  
NET EARNINGS  15,741   31,769 (50.5)  77,532   114,768 (32.4) 
ADJUSTED EBITDA  39,985   51,155 (21.8)  139,812   176,701 (20.9) 
ADJUSTED EBITDA MARGIN  6.7 % 8.0%   7.0 % 8.5%  
                  
PERCENTAGE CHANGE IN SALES:                 
ORGANIC UNITS  (6)%      (5)%     
ACQUISITIONS  —        —       
SELLING PRICES  (1)       1       
  • ProWood organic unit sales declined 5 percent in the quarter from year ago levels.
  • Deckorators organic unit sales grew 5 percent in the quarter from year ago levels.
  • Retail gross profit and adjusted EBITDA fell 14 percent and 22 percent, respectively, from year ago levels. Falling lumber prices, temporary startup costs associated with the expansion of our Surestone product launch, inefficiencies from our Edge restructuring efforts, and higher marketing spend drove declines in the quarter. These were partially offset by a decrease in SG&A expenses despite higher advertising investments to build the Surestone brand.

ĢtvƵ Packaging

                  
(In thousands) Quarter PeriodYear to Date
  2025  2024 % Change2025  2024 % Change
NET SALES $394,949  $401,626 (1.7)%$1,233,626  $1,261,248 (2.2)%
GROSS PROFIT  67,421   71,245 (5.4)  207,577   240,371 (13.6) 
GROSS MARGIN  17.1 % 17.7%   16.8 % 19.1%  
NET EARNINGS  21,358   16,507 29.4   58,908   63,472 (7.2) 
ADJUSTED EBITDA  34,284   34,348 (0.2)  108,125   121,620 (11.1) 
ADJUSTED EBITDA MARGIN  8.7 % 8.6%   8.8 % 9.6%  
                  
PERCENTAGE CHANGE IN SALES:                 
ORGANIC UNITS  (3)%      (1)%     
ACQUISITIONS  1        1       
SELLING PRICES  –        (2)      
  • Structural Packaging organic unit sales declined 5 percent in the quarter from year ago levels.
  • PalletOne organic unit sales declined 4 percent in the quarter from year ago levels.
  • Protective Packaging unit sales grew 15 percent in the quarter from a year ago.
  • Packaging gross profit and adjusted EBITDA fell 5 percent and held flat, respectively, from year ago levels. Gross profit declines were primarily due to PalletOne because of price competition as we are executing our strategy to increase market share. Adjusted EBITDA was flat as the decline in gross profit was offset by a decrease in SG&A.

ĢtvƵ Construction

                  
(In thousands) Quarter PeriodYear to Date
  2025  2024 % Change2025  2024 % Change
NET SALES $496,465  $534,625 (7.1)%$1,563,995  $1,627,068 (3.9)%
GROSS PROFIT  91,203   111,658 (18.3)  282,192   351,548 (19.7) 
GROSS MARGIN  18.4 % 20.9%   18.0 % 21.6%  
NET EARNINGS  24,682   32,127 (23.2)  74,189   108,584 (31.7) 
ADJUSTED EBITDA  41,878   50,888 (17.7)  124,668   163,395 (23.7) 
ADJUSTED EBITDA MARGIN  8.4 % 9.5%   8.0 % 10.0%  
                  
PERCENTAGE CHANGE IN SALES:                 
ORGANIC UNITS  (2)%      1 %     
ACQUISITIONS  —        —       
SELLING PRICES  (5)       (5)      
  • Site Built organic unit sales declined 15 percent in the quarter from year ago levels.
  • Factory Built organic unit sales grew 4 percent in the quarter from year ago levels.
  • Concrete Forming Solutions organic unit sales grew 12 percent in the quarter from year ago levels.
  • Commercial organic sales grew 13 percent in the quarter from year ago levels.
  • Construction gross profit and adjusted EBITDA each fell 18 percent, respectively from year ago levels. Weaker volumes and competitive pricing in our Site Built business led the declines in the quarter as our other businesses reported profit growth in the quarter.

Capital Structure, Leverage and Liquidity Information

ĢtvƵ Industries maintains a strong balance sheet and as of September 27, 2025, had liquidity of approximately $2.3 billion consisting of $1.0 billion of cash and $1.3 billion of remaining availability under its revolving credit facility and a shelf agreement with certain lenders. The company’s return-focused approach to capital allocation includes the following:

  • Acquisitions and Organic Growth. The company seeks strategic acquisitions and invests in organic growth opportunities when acquisition targets are not available at valuations that will allow us to meet or exceed targeted return rates. In 2024, the company announced up to $1 billion in capital investments through 2028 for automation, technology upgrades, geographic expansion, and increased capacity at existing facilities. The company expects to invest approximately $275 million to $300 million on capital projects in 2025.
  • Dividend payments. On October 23, 2025, the ĢtvƵ Industries Board of Directors approved a quarterly cash dividend payment of $0.35 per share, which represents a 6 percent year over year increase. This dividend is payable on December 15, 2025, to shareholders of record on December 1, 2025. We continue to consider our payout ratio and yield when determining the appropriate dividend rate and have a long-term objective of increasing our dividend in line with our earnings growth.
  • Share repurchases. As of September 27, 2025, we have repurchased 2.8 million shares for $291 million, at an average share price of $103.04 for the year. In October, we have repurchased an additional 615k shares for $56 million, at an average price of $91.03.

2025 Full Year and Long-Term Outlook

Our 2025 outlook remains largely unchanged. We continue to anticipate the softer demand and competitive pricing environment will remain through the balance of 2025 and are planning for low single-digit unit declines in each of our segments. We anticipate a more significant decline in markets tied to new residential construction, but we continue to expect to see some level of stabilization in most of our other businesses units as an offset. We expect initial stocking orders and expanded manufacturing and distribution capabilities will support momentum in our Deckorators’s and Surestone business through the remainder of the year and into 2026.

The company’s long-term goals remain unchanged and include: 1) achieving 7-10 percent unit sales growth annually (including bolt-on acquisitions) with at least 10 percent of all sales coming from new products; 2) achieving 12.5 percent adjusted EBITDA margins; 3) earning an incremental return on new investments over our hurdle rate; and 4) maintaining a conservative capital structure

Conference Call

ĢtvƵ Industries will host a conference call on Thursday, October 30, 2025, to discuss these results and outlook. The conference call will begin at 10:00 a.m. Eastern Time and will be hosted by CEO Will Schwartz and CFO Michael Cole. Interested investors can access the webcast directly with this link . A replay of the call will be available through the ĢtvƵ Investor Relations website at  for at least 90 days following the call.

ĢtvƵ

ĢtvƵ is a holding company whose operating subsidiaries – ĢtvƵ Packaging, ĢtvƵ Construction and ĢtvƵ Retail – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. For more about ĢtvƵ Industries, go to .

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in currency and inflation; fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; changes in tariffs, import/export regulations, and other trade policies; concentration of sales to customers; the success of vertical integration strategies; excess capacity or supply chain challenges; inbound and outbound transportation costs; alternatives to replace treated wood products; government regulations, particularly involving environmental and safety regulations; our ability to make successful business acquisitions; cybersecurity breaches; and potential pandemics. Certain of these risk factors as well as other risk factors and additional information are included in the Company’s reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission

Non-GAAP Financial Information

This release includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, a non-GAAP financial measure, in order to evaluate historical and ongoing operations. Management believes that this non-GAAP financial measure is useful in order to enable investors to perform meaningful comparisons of historical and current performance. Adjusted EBITDA is intended to supplement and should be read together with the financial results. Adjusted EBITDA should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measure. See the table below for a reconciliation of Adjusted EBITDA to net earnings.

Net earnings

Net earnings refers to net earnings attributable to controlling interest unless specifically noted.

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND
COMPREHENSIVE INCOME (UNAUDITED)
FOR THE THREE AND NINE MONTHS ENDED
SEPTEMBER 2025/2024
                      
  Quarter PeriodYear to Date
(In thousands, except per share data) 2025  2024  2025  2024  
NET SALES $1,559,627  100.0 %$1,649,383  100.0 %$4,990,520  100.0 %$5,190,308  100.0 %
                      
COST OF GOODS SOLD  1,296,946  83.2   1,350,971  81.9   4,146,909  83.1   4,203,075  81.0  
                      
GROSS PROFIT  262,681  16.8   298,412  18.1   843,611  16.9   987,233  19.0  
                      
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES  170,030  10.9   183,341  11.1   531,279  10.6   578,555  11.1  
NET LOSS (GAIN) ON DISPOSITION AND IMPAIRMENT OF ASSETS  2,458  0.2   (453) —   6,212  0.1   1,538  —  
OTHER LOSSES (GAINS), NET  722  —   (4,402) (0.3)  1,306  —   (5,643) (0.1) 
                      
EARNINGS FROM OPERATIONS  89,471  5.7   119,926  7.3   304,814  6.1   412,783  8.0  
                      
INTEREST AND OTHER  (9,663) (0.6)  (14,184) (0.9)  (26,946) (0.5)  (36,353) (0.7) 
                      
EARNINGS BEFORE INCOME TAXES  99,134  6.4   134,110  8.1   331,760  6.6   449,136  8.7  
                      
INCOME TAXES  23,592  1.5   32,491  2.0   75,924  1.5   100,186  1.9  
                      
NET EARNINGS  75,542  4.8   101,619  6.2   255,836  5.1   348,950  6.7  
                      
LESS NET EARNINGS ATTRIBUTABLE TO NONCONTROLLING INTEREST  (196) —   (1,819) (0.1)  (1,003) —   (2,429) —  
                      
NET EARNINGS ATTRIBUTABLE TO CONTROLLING INTEREST $75,346  4.8  $99,800  6.1  $254,833  5.1  $346,521  6.7  
                      
EARNINGS PER SHARE – BASIC $1.29    $1.64    $4.29    $5.66    
                      
EARNINGS PER SHARE – DILUTED $1.29    $1.64    $4.28    $5.65    
                      
COMPREHENSIVE INCOME $76,049    $102,411    $271,262    $340,632    
                      
LESS COMPREHENSIVE (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST  (487)    (1,032)    (2,878)    397    
                      
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST $75,562    $101,379    $268,384    $341,029    
                      
CONDENSED CONSOLIDATED STATEMENTS
OF EARNINGS BY SEGMENT (UNAUDITED)
FOR THE THREE MONTHS ENDED SEPTEMBER 2025/2024
                   
  Quarter Period 2025
(In thousands) Retail Packaging Construction All Other Corporate Total
NET SALES $593,985  $394,949  $496,465  $72,482  $1,746  $1,559,627 
COST OF GOODS SOLD  513,763   327,528   405,262   59,251   (8,858)  1,296,946 
GROSS PROFIT  80,222   67,421   91,203   13,231   10,604   262,681 
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES  49,032   45,831   58,943   9,226   6,998   170,030 
NET LOSS (GAIN) ON DISPOSITION AND IMPAIRMENT OF ASSETS  9,983   (5,970)  (59)  63   (1,559)  2,458 
OTHER LOSSES (GAINS), NET  462   —   (3)  203   60   722 
EARNINGS FROM OPERATIONS  20,745   27,560   32,322   3,739   5,105   89,471 
INTEREST AND OTHER  (70)  (381)  (7)  (2,845)  (6,360)  (9,663)
EARNINGS BEFORE INCOME TAXES  20,815   27,941   32,329   6,584   11,465   99,134 
INCOME TAXES  5,074   6,583   7,647   1,691   2,597   23,592 
NET EARNINGS $15,741  $21,358  $24,682  $4,893  $8,868  $75,542 
                   
  Quarter Period 2024
(In thousands) Retail Packaging Construction All Other Corporate Total
NET SALES $635,571  $401,626 $534,625  $75,802  $1,759  $1,649,383 
COST OF GOODS SOLD  542,516   330,381  422,967   61,350   (6,243)  1,350,971 
GROSS PROFIT  93,055   71,245  111,658   14,452   8,002   298,412 
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES  54,113   49,352  69,046   13,696   (2,866)  183,341 
NET (GAIN) LOSS ON DISPOSITION AND IMPAIRMENT OF ASSETS  (9)  28  (64)  (4)  (404)  (453)
OTHER (GAINS) LOSSES, NET  (2,861)  —  276   (1,787)  (30)  (4,402)
EARNINGS FROM OPERATIONS  41,812   21,865  42,400   2,547   11,302   119,926 
INTEREST AND OTHER  (114)  81  —   (4,033)  (10,118)  (14,184)
EARNINGS BEFORE INCOME TAXES  41,926   21,784  42,400   6,580   21,420   134,110 
INCOME TAXES  10,157   5,277  10,273   1,594   5,190   32,491 
NET EARNINGS $31,769  $16,507 $32,127  $4,986  $16,230  $101,619 
CONDENSED CONSOLIDATED STATEMENTS
OF EARNINGS BY SEGMENT (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 2025/2024
                   
  Year to Date 2025
(In thousands) Retail Packaging Construction All Other Corporate Total
NET SALES $1,989,592  $1,233,626  $1,563,995  $197,806  $5,501  $4,990,520 
COST OF GOODS SOLD  1,714,335   1,026,049   1,281,803   160,706   (35,984)  4,146,909 
GROSS PROFIT  275,257   207,577   282,192 — 37,100 — 41,485   843,611 
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES  163,029   136,748   185,454 — 28,086 — 17,962   531,279 
NET LOSS (GAIN) ON DISPOSITION AND IMPAIRMENT OF ASSETS  11,090   (4,713)  272 — 2,679 — (3,116)  6,212 
OTHER LOSSES (GAINS), NET  780   —   268 — 451 — (193)  1,306 
EARNINGS FROM OPERATIONS  100,358   75,542   96,198   5,884   26,832   304,814 
INTEREST AND OTHER  (184)  (848)  (8)— (6,304)— (19,602)  (26,946)
EARNINGS BEFORE INCOME TAXES  100,542   76,390   96,206   12,188   46,434   331,760 
INCOME TAXES  23,010   17,482   22,017 — 2,779 — 10,636   75,924 
NET EARNINGS $77,532  $58,908  $74,189  $9,409  $35,798  $255,836 
                   
  Year to Date 2024
(In thousands) Retail Packaging Construction All Other Corporate Total
NET SALES $2,073,403  $1,261,248 $1,627,068  $224,219  $4,370  $5,190,308 
COST OF GOODS SOLD  1,752,464   1,020,877  1,275,520   171,916   (17,702)  4,203,075 
GROSS PROFIT  320,939   240,371  351,548   52,303   22,072   987,233 
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES  175,014   156,289  211,503   41,663   (5,914)  578,555 
NET LOSS (GAIN) ON DISPOSITION AND IMPAIRMENT OF ASSETS  877   1,455  222   10   (1,026)  1,538 
OTHER (GAINS) LOSSES, NET  (2,527)  —  70   (3,286)  100   (5,643)
EARNINGS FROM OPERATIONS  147,575   82,627  139,753   13,916   28,912   412,783 
INTEREST AND OTHER  (386)  1,314  (25)  (8,826)  (28,430)  (36,353)
EARNINGS BEFORE INCOME TAXES  147,961   81,313  139,778   22,742   57,342   449,136 
INCOME TAXES  33,193   17,841  31,194   5,072   12,886   100,186 
NET EARNINGS $114,768  $63,472 $108,584  $17,670  $44,456  $348,950
RECONCILIATION OF NET EARNINGS TO
ADJUSTED EBITDA BY SEGMENT (UNAUDITED)
FOR THE THREE MONTHS ENDED SEPTEMBER 2025/2024
                   
  Quarter Period 2025
(In thousands) Retail Packaging Construction All Other Corporate Total
NET EARNINGS $15,741  $21,358  $24,682  $4,893  $8,868  $75,542 
INTEREST AND OTHER  (70)  (381)  (7)  (2,845)  (6,360)  (9,663)
INCOME TAXES  5,074   6,583   7,647   1,691   2,597   23,592 
EXPENSES ASSOCIATED WITH SHARE-BASED COMPENSATION ARRANGEMENTS  855   1,609   2,173   171   2,728   7,536 
NET LOSS (GAIN) ON DISPOSITION AND IMPAIRMENT OF ASSETS  7,583   (5,970)  (59)  63   (1,559)  58 
IMPAIRMENT OF INTANGIBLES  2,400   —   —   —   —   2,400 
DEPRECIATION EXPENSE  7,523   8,946   6,667   1,027   10,470   34,633 
AMORTIZATION OF INTANGIBLES  879   2,139   775   1,701   427   5,921 
ADJUSTED EBITDA $39,985  $34,284  $41,878  $6,701  $17,171  $140,019 
                   
NET EARNINGS AS A PERCENTAGE OF NET SALES  2.7%  5.4%  5.0%  6.8%  *  4.8%
                   
ADJUSTED EBITDA AS A PERCENTAGE OF NET SALES  6.7%  8.7%  8.4%  9.2%  *  9.0%
* Not meaningful                  
                   
  Quarter Period 2024
(In thousands) Retail Packaging Construction All Other Corporate Total
NET EARNINGS $31,769  $16,507  $32,127  $4,986  $16,230  $101,619 
INTEREST AND OTHER  (114)  81   —   (4,033)  (10,118)  (14,184)
INCOME TAXES  10,157   5,277   10,273   1,594   5,190   32,491 
EXPENSES ASSOCIATED WITH SHARE-BASED COMPENSATION ARRANGEMENTS  1,116   1,575   1,822   140   3,416   8,069 
NET (GAIN) LOSS ON DISPOSITION AND IMPAIRMENT OF ASSETS  (9)  28   (64)  (4)  (404)  (453)
GAIN FROM REDUCTION OF ESTIMATED EARNOUT LIABILITY  —   —   —   —   —   — 
DEPRECIATION EXPENSE  7,238   8,664   6,027   832   8,726   31,487 
AMORTIZATION OF INTANGIBLES  998   2,216   703   1,536   433   5,886 
ADJUSTED EBITDA $51,155  $34,348  $50,888  $5,051  $23,473  $164,915 
                   
NET EARNINGS AS A PERCENTAGE OF NET SALES  5.0%  4.1%  6.0%  6.6%  *  6.2%
                   
ADJUSTED EBITDA AS A PERCENTAGE OF NET SALES  8.0%  8.6%  9.5%  6.7%  *  10.0%
* Not meaningful                  
RECONCILIATION OF NET EARNINGS TO
ADJUSTED EBITDA BY SEGMENT (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 2025/2024
                   
  Year to Date 2025
(In thousands) Retail Packaging Construction All Other Corporate Total
NET EARNINGS $77,532  $58,908  $74,189  $9,409  $35,798  $255,836 
INTEREST AND OTHER  (184)  (848)  (8)  (6,304)  (19,602)  (26,946)
INCOME TAXES  23,010   17,482   22,017   2,779   10,636   75,924 
EXPENSES ASSOCIATED WITH SHARE-BASED COMPENSATION ARRANGEMENTS  3,146   5,390   7,173   609   11,588   27,906 
NET LOSS (GAIN) ON DISPOSITION AND IMPAIRMENT OF ASSETS  8,690   (4,713)  272   2,679   (3,116)  3,812 
IMPAIRMENT OF INTANGIBLES  2,400   —   —   —   —   2,400 
GAIN FROM REDUCTION OF ESTIMATED EARNOUT LIABILITY  —   (1,511)  (344)  —   —   (1,855)
DEPRECIATION EXPENSE  22,425   26,933   19,188   3,080   29,948   101,574 
AMORTIZATION OF INTANGIBLES  2,793   6,484   2,181   4,973   1,235   17,666 
ADJUSTED EBITDA $139,812  $108,125  $124,668  $17,225  $66,487  $456,317 
                   
NET EARNINGS AS A PERCENTAGE OF NET SALES  3.9%  4.8%  4.7%  4.8%  *  5.1%
                   
ADJUSTED EBITDA AS A PERCENTAGE OF NET SALES  7.0%  8.8%  8.0%  8.7%  *  9.1%
* Not meaningful                  
                   
  Year to Date 2024
(In thousands) Retail Packaging Construction All Other Corporate Total
NET EARNINGS $114,768  $63,472  $108,584  $17,670  $44,456  $348,950 
INTEREST AND OTHER  (386)  1,314   (25)  (8,826)  (28,430)  (36,353)
INCOME TAXES  33,193   17,841   31,194   5,072   12,886   100,186 
EXPENSES ASSOCIATED WITH SHARE-BASED COMPENSATION ARRANGEMENTS  3,928   5,351   6,098   609   11,359   27,345 
NET LOSS (GAIN) ON DISPOSITION AND IMPAIRMENT OF ASSETS  877   1,455   222   10   (1,026)  1,538 
GAIN FROM REDUCTION OF ESTIMATED EARNOUT LIABILITY  —   (37)  (1,818)  —   —   (1,855)
DEPRECIATION EXPENSE  21,327   25,600   17,032   2,449   25,722   92,130 
AMORTIZATION OF INTANGIBLES  2,994   6,624   2,108   4,573   1,322   17,621 
ADJUSTED EBITDA $176,701  $121,620  $163,395  $21,557  $66,289  $549,562 
                   
NET EARNINGS AS A PERCENTAGE OF NET SALES  5.5%  5.0%  6.7%  7.9%  *  6.7%
                   
ADJUSTED EBITDA AS A PERCENTAGE OF NET SALES  8.5%  9.6%  10.0%  9.6%  *  10.6%
* Not meaningful                  
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
SEPTEMBER 2025/2024
                
(In thousands)               
ASSETS  2025  2024 LIABILITIES AND EQUITY  2025  2024 
                
CURRENT ASSETS       CURRENT LIABILITIES       
Cash and cash equivalents $1,008,632  1,190,807 Accounts payable $231,905  239,897 
Restricted cash  3,062  761 Accrued liabilities and other  294,923  322,031 
Investments  33,926  38,935 Current portion of debt  5,386  44,103 
Accounts receivable  607,537  650,869         
Inventories  667,418  645,429         
Other current assets  66,509  86,724         
                
TOTAL CURRENT ASSETS  2,387,084  2,613,525 TOTAL CURRENT LIABILITIES  532,214  606,031 
                
OTHER ASSETS  283,796  259,637 LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS  229,007  232,043 
INTANGIBLE ASSETS, NET  488,774  501,641 OTHER LIABILITIES  166,057  180,465 
                
        TEMPORARY EQUITY  5,018  5,527 
                
PROPERTY, PLANT AND EQUIPMENT, NET  975,897  843,082 SHAREHOLDERS’ EQUITY  3,203,255  3,193,819 
                
                
TOTAL ASSETS $4,135,551 $4,217,885 TOTAL LIABILITIES AND EQUITY $4,135,551 $4,217,885 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE NINE MONTHS ENDED
SEPTEMBER 2025/2024
         
(In thousands)  2025 2024
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net earnings $255,836   $348,950  
Adjustments to reconcile net earnings to net cash from operating activities:        
         
Depreciation  101,574    92,130  
Amortization of intangibles  17,666    17,621  
Expense associated with share-based and grant compensation arrangements  27,906    27,345  
Deferred income taxes  (393)   (674) 
Unrealized gain on investment and other  (2,195)   (3,201) 
Equity in (earnings) loss of investee  (1,072)   1,313  
Net loss on sale, disposition and impairment of assets  3,812    1,538  
Impairment of intangibles  2,400    —  
Gain from reduction of estimated earnout liability  (1,855)   (1,855) 
Changes in:        
Accounts receivable  (104,813)   (102,355) 
Inventories  61,025    81,238  
Accounts payable  6,243    37,391  
Accrued liabilities and other  32,988    (1,779) 
NET CASH FROM OPERATING ACTIVITIES  399,122    497,662  
         
CASH FLOWS USED IN INVESTING ACTIVITIES:        
Purchases of property, plant, and equipment  (205,504)   (165,493) 
Proceeds from sale of property, plant and equipment  17,308    3,795  
Acquisitions and purchases of non-controlling interest, net of cash received  (17,626)   —  
Purchases of investments  (27,388)   (34,284) 
Proceeds from sale of investments  14,464    13,782  
Other  1,535    4,712  
NET CASH USED IN INVESTING ACTIVITIES  (217,211)   (177,488) 
         
CASH FLOWS USED IN FINANCING ACTIVITIES:        
Borrowings under revolving credit facilities  23,299    20,130  
Repayments under revolving credit facilities  (22,469)   (20,477) 
Repayment of debt on behalf of investee  —    (6,303) 
Contingent consideration payments and other  (221)   (4,779) 
Proceeds from issuance of common stock  1,867    2,122  
Dividends paid to shareholders  (62,490)   (60,721) 
Distributions to noncontrolling interest  (1,280)   (11,848) 
Purchase of remaining noncontrolling interest of subsidiary  —    (4,902) 
Payments to taxing authorities in connection with shares directly withheld from employees  (9,582)   (17,838) 
Repurchase of common stock  (280,987)   (141,122) 
Other  (182)   55  
NET CASH USED IN FINANCING ACTIVITIES  (352,045)   (245,683) 
         
Effect of exchange rate changes on cash  2,234    (5,179) 
NET CHANGE IN CASH AND CASH EQUIVALENTS  (167,900)   69,312  
         
ALL CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD  1,179,594    1,122,256  
         
ALL CASH AND CASH EQUIVALENTS, END OF PERIOD $1,011,694   $1,191,568  
         
Reconciliation of cash and cash equivalents and restricted cash:        
Cash and cash equivalents, beginning of period $1,171,828   $1,118,329  
Restricted cash, beginning of period  7,766    3,927  
All cash and cash equivalents, beginning of period $1,179,594   $1,122,256  
         
Cash and cash equivalents, end of period $1,008,632   $1,190,807  
Restricted cash, end of period  3,062    761  
All cash and cash equivalents, end of period $1,011,694   $1,191,568  
         

Contacts

Stanley Elliott
Director of Investor Relations
(804) 337-8217

The post ĢtvƵ Industries Announces Third Quarter 2025 Results appeared first on ĢtvƵ Industries.

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