Form 8-K

8-K — UFP INDUSTRIES INC

Accession: 0000912767-26-000044

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0000912767

SIC: 2421 (SAWMILLS, PLANNING MILLS, GENERAL)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ufpi-20260729x8k.htm (Primary)

EX-99.1 (ufpi-20260729xex99d1.htm)

GRAPHIC (ufpi-20260729xex99d1001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ufpi-20260729x8k.htm · Sequence: 1

UFP INDUSTRIES, INC._July 29, 2026

0000912767false00009127672026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026

UFP INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Michigan

(State or other Jurisdiction of Incorporation)

0-22684

(Commission File Number)

38-1465835

(IRS Employer Identification No.)

2801 East Beltline, NE Grand Rapids, Michigan

(Address of Principal Executive Offices)

49525

(Zip Code)

Registrant's telephone number, including area code: (616) 364-6161

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

UFPI

The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On July 29, 2026, the Registrant issued a press release announcing its financial results for the quarter-ended June 27, 2026. A copy of the Registrant’s press release is attached as Exhibit 99.1 to this Current Report.

Item 9.01 Financial Statements and Exhibits

EXHIBIT INDEX

Exhibit Number

Document

99.1

Press Release dated July 29, 2026.

104

Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

UFP INDUSTRIES, INC.

(Registrant)

Dated: July 29, 2026

By:

/s/ Michael R. Cole

Michael R. Cole

Chief Financial Officer,

Principal Financial Officer and

Treasurer

EX-99.1

Filename: ufpi-20260729xex99d1.htm · Sequence: 2

Exhibit 99.1

UFP Industries Announces Second Quarter 2026 Results

GRAND RAPIDS, MI (July 29, 2026) - UFP Industries, Inc. (Nasdaq: UFPI) a leading manufacturer focused on delivering value-added products across its Retail, Packaging, and Construction segments reported results for the second quarter 2026.

●Net Sales of $1.88 billion increased by 3 percent compared to $1.84 billion a year ago due to a 1 percent increase in organic units (excluding growth from acquisitions within the last 12 months) and a 2 percent increase due to acquisitions.

●Diluted earnings per share of $1.48 compared to $1.70 a year ago, and Net Earnings Attributable to Controlling Interests of $83 million compared to $101 million a year ago. Earnings were primarily impacted by higher freight costs while a weaker residential construction market was offset by improvements in other business units.

●Adjusted EBITDA1 was $154.5 million in the quarter, or 8.2 percent of net sales compared to $174.1 million, or 9.5 percent of net sales a year ago, as transportation costs increased by 1.6 percent as a percent of net sales.

●Cash flows from operating activities in the first six months of 2026 was $61 million. Cash used to invest in seasonal working capital requirements during the first six months totaled almost $170 million and is expected to be converted to cash by the beginning of the fourth quarter. Free cash flow1 of $198 million for the first six months of 2026 was used to repurchase nearly $142 million of our shares.

Will Schwartz, President and CEO of UFP Industries, commented, “As we’ve discussed in prior quarters, we are seeing stabilization across the majority of our portfolio, and we believe our second quarter results reflect the progress we have made to strengthen our business and structurally improve our operations. The business environment remains challenging with geopolitical tensions, a weak housing market, rising input costs, and most recently, elevated transportation costs. We are actively managing these short-term disruptions while investing in initiatives that will improve our margin profile and drive above-market growth over the long term. We remain focused on the factors under our control and we are on track to deliver the remaining $25 million or more from our initial $60 million cost out program by year end. We also continue to strengthen our core businesses through organic investments and strategic M&A, positioning the company for long-term growth and returns as markets recover.”

Schwartz continued, “Our balanced approach to our business has helped us navigate this uncertain environment while driving strong performance relative to market conditions. We continue to invest strategically by expanding geographically, improving operational efficiencies, and introducing innovative value-added products. To that point, the investments we’ve made to grow our Surestone products helped sales increase 37 percent from year ago levels, and our backlog remains robust. We also completed three acquisitions in the quarter that complement our core business and our M&A pipeline remains active. We will continue to make these investments in a targeted manner, while returning more of our free cash flow to shareholders through dividends and share repurchases. With $1.9 billion in liquidity at quarter end, we are confident in our ability to create shareholder value through prudent capital allocation.”

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

‌Page 1

Exhibit 99.1

Second Quarter 2026 Highlights

UFP Consolidated

(In thousands)

Quarter Period

Year to Date

2026

2025

% Change

2026

2025

% Change

Net sales

1,882,937

1,835,374

2.6

3,344,204

3,430,893

(2.5)

Net earnings

83,171

100,871

(17.5)

134,268

180,294

(25.5)

Net margin

4.4

5.5

4.0

5.3

Adjusted EBITDA

154,480

174,147

(11.3)

265,836

316,298

(16.0)

Adjusted EBITDA margin

8.2

9.5

7.9

9.2

Percentage change in net sales:

Organic units

(3)

Acquisitions

Selling prices

—

● Net sales increased 3 percent in the quarter, driven primarily by acquisitions, as well as organic volume improvements in our Deckorators, Structural Packaging, Protective Packaging, Concrete Forming, and Commercial business units.

● Freight costs as a percent of net sales have increased by 1.6 percent, or $27 million, net of fuel surcharges and price adjustments, compared to year ago levels. The increase was driven by higher market-based transportation rates as a result of tightening industry capacity and elevated fuel costs. Freight spot rates rose over 30 percent during the quarter, surpassing the rate of increase experienced during the COVID period, before stabilizing at an elevated level toward the end of the quarter. Industry-wide changes resulted in constrained carrier capacity, as smaller carriers have exited the market, which contributed to the higher rates.

● New product sales were 8.4 percent of total net sales compared to 6.5 percent a year ago, highlighting continued progress in expanding the portfolio of higher value-added products.

UFP Retail

(In thousands)

Quarter Period

Year to Date

2026

2025

% Change

2026

2025

% Change

Net sales

818,743

788,224

3.9

1,349,919

1,395,607

(3.3)

Net earnings

37,018

41,128

(10.0)

55,690

61,791

(9.9)

Net margin

4.5

5.2

4.1

4.4

Adjusted EBITDA

63,934

63,978

(0.1)

98,766

99,827

(1.1)

Adjusted EBITDA margin

7.8

8.1

7.3

7.2

Percentage change in net sales:

Organic units

(1)

(6)

Acquisitions

Selling prices

● ProWood organic unit sales declined 1 percent in the quarter from year ago levels, reflecting weaker consumer sentiment amid continued macroeconomic and geopolitical uncertainty. However, there have been favorable impacts from volume since the first quarter of 2026, reflecting gradually improving demand.

● Deckorators’ organic unit sales grew 9 percent in the quarter from year ago levels. Our Surestone decking sales increased 37 percent and our traditional wood plastic composite decking increased 85 percent, partially offset by railings which declined 17 percent, from the same quarter a year ago. Our current backlog of ordered but unshipped Surestone decking is approximately $30 million as we continue to make progress optimizing capacity. The MoistureShield acquisition contributed a 51 percent increase in wood plastic composite decking sales.

● UFP Edge organic unit sales declined 17 percent due to the closure of the Bonner facilities at the end of 2025 and rationalizing the product portfolio to those that can achieve profitability targets.

● Adjusted EBITDA was unchanged in the quarter from year ago levels primarily due to higher transportation costs that were $17 million higher than last year. In the quarter, we were able to offset these headwinds through improved gross profits in Prowood from more favorable lumber price trends, UFP Edge from the restructuring of this business unit, and Deckorators primarily from favorable increases in volume.

‌Page 2

Exhibit 99.1

UFP Packaging

(In thousands)

Quarter Period

Year to Date

2026

2025

% Change

2026

2025

% Change

Net sales

458,245

428,669

6.9

852,338

838,677

1.6

Net earnings

11,315

20,633

(45.2)

22,974

37,550

(38.8)

Net margin

2.5

4.8

2.7

4.5

Adjusted EBITDA

27,933

38,796

(28.0)

55,723

73,841

(24.5)

Adjusted EBITDA margin

6.1

9.1

6.5

8.8

Percentage change in net sales:

Organic units

Acquisitions

Selling prices

(1)

● Structural Packaging organic unit sales grew 8 percent in the quarter compared to year ago levels.

● PalletOne organic unit sales declined 3 percent in the quarter from year ago levels due to weaker demand, which was offset by a 12 percent contribution from acquisitions.

● Protective Packaging organic unit sales increased 15 percent in the quarter from a year ago levels as a result of the Jeffersonville, Indiana facility, which became fully operational in the third quarter of 2025.

● Adjusted EBITDA declined 28 percent in the quarter from year ago levels primarily due to higher transportation costs in each business unit, lower gross profits in PalletOne, and startup costs associated with new greenfield locations in Protective Packaging.

UFP Construction

(In thousands)

Quarter Period

Year to Date

2026

2025

% Change

2026

2025

% Change

Net sales

526,777

551,590

(4.5)

992,290

1,067,530

(7.0)

Net earnings

19,631

27,563

(28.8)

31,354

49,507

(36.7)

Net margin

3.7

5.0

3.2

4.6

Adjusted EBITDA

36,045

45,480

(20.7)

61,732

82,790

(25.4)

Adjusted EBITDA margin

6.8

8.2

6.2

7.8

Percentage change in net sales:

Organic units

(2)

(4)

Acquisitions

Selling prices

(3)

(4)

● Site Built organic unit sales declined 3 percent in the quarter from year ago levels reflecting softer demand driven by affordability challenges and economic uncertainty, which resulted in lower housing starts.

● Factory Built organic unit sales declined 6 percent in the quarter from year ago levels due to the loss of lower margin commodity sales, partially offset by a 1 percent contribution from acquisitions. Industry production has declined by 8 percent.

● Concrete Forming Solutions’ organic unit sales grew 6 percent in the quarter from year ago levels driven by market share gains associated with value-added product sales.

● Commercial organic sales grew 11 percent in the quarter from year ago levels as overall demand has improved and as the business unit continues to gain market share.

● Adjusted EBITDA declined 21 percent in the quarter from year ago levels primarily due to lower gross profits in Site Built from macroeconomic pressures and competitive pricing, partially offset by improved gross profits in Commercial and Concrete Forming.

‌Page 3

Exhibit 99.1

Capital Structure, Leverage and Liquidity Information

UFP Industries maintains a strong balance sheet and as of June 27, 2026, had liquidity of approximately $1.9 billion consisting of over $597 million of Cash and cash equivalents 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:

● Organic Growth. The company invests in organic growth opportunities when acquisition targets are not available at valuations that will allow us to meet or exceed targeted return rates. The company expects to invest approximately $175 million to $200 million on capital projects for the balance of 2026.

● Acquisitions and Inorganic Growth. During the second quarter, the company closed three transactions, expanding production capacity and expanding its geographic reach in its core businesses.

On April 6, 2026, the company acquired the operating assets of the composite decking manufacturing facility of MoistureShield, Inc., a leading player in the growing wood plastic composite industry, for $55 million in cash. The acquisition expands our manufacturing capacity to meet the growing demand for our Deckorators product offering. In 2025, MoistureShield had sales of approximately $50 million.

On May 4, 2026, the company acquired the operating assets of John Rock, Inc., a leading manufacturer of new pallets, for $47 million in cash. In 2025, John Rock had sales of approximately $86 million.

On May 18, 2026, the company acquired the operating assets of Berry Pallets, Inc., a wood pallet manufacturer, for $20 million in cash. In 2025, Berry Pallets had sales of approximately $23 million.

● Dividend Payments. On July 22, 2026, the Board declared a quarterly cash dividend of $0.36 per share. This dividend is payable on September 15, 2026, to shareholders of record on September 1, 2026. The per share cash dividend amount represents a 3% increase from the 2025 dividend rate. 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 future earnings and free cash flow growth.

● Share Repurchases. During the first six months of 2026, we repurchased a total of 1,669,770 shares for $141.8 million, at an average share price of $84.95. On May 29, 2026, our board authorized a new repurchase plan for up to $300 million worth of our shares through April 30, 2027. This authorization supersedes and replaces our prior authorizations. As of July 29, 2026, approximately $273 million remain available under this latest repurchase authorization.

2026 Outlook and Long-Term Targets

Our full year 2026 outlook remains unchanged. We continue to expect overall demand for the balance of the year to be toward the lower end of our prior guidance of flat to slightly down unit expectations in each of our segments based on our sales mix. Input costs, primarily energy and transportation, are expected to remain elevated, and while we have mechanisms to offset these costs, we expect recovery to be gradual through the remainder of the year. Demand tied to new residential construction is expected to remain challenging, while stabilization across most other end markets should partially offset that pressure. Despite these conditions, we believe we are positioned to perform better than our markets through share gains across our portfolio and continued execution of our cost-out program. In addition, initial stocking orders, upgraded manufacturing capacity, and expanded distribution are expected to support continued momentum in our Deckorators’ Surestone business.

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

UFP Industries will host a conference call on Thursday, July 30, 2026, 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 (here). A replay of the call will be available through the UFP Investor Relations website at www.ufpinvestor.com for at least 90 days following the call.

‌Page 4

Exhibit 99.1

UFP Industries, Inc.

UFP Industries, Inc. is a holding company whose operating subsidiaries – UFP Packaging, UFP Construction and UFP 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 UFP Industries, go to www.ufpi.com.

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 and Free cash flow, non-GAAP financial measures, in order to evaluate historical and ongoing operations. Management believes that these non-GAAP financial measures are useful in order to enable investors to perform meaningful comparisons of historical and current performance. Adjusted EBITDA and Free cash flow are intended to supplement and should be read together with the financial results. Adjusted EBITDA and Free cash flow should not be considered alternatives or substitutes 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 measures. See the table below for a reconciliation of Net earnings to Adjusted EBITDA and a reconciliation of Cash flow from operations to Free cash flow.

Adjusted EBITDA margin is a non-GAAP financial measure. In calculating adjusted EBITDA, we make certain adjustments, including for share-based compensation expense, net gains or losses on the disposition and impairment of assets, and impairment of intangible assets. The most directly comparable GAAP financial measure is net earnings as a percentage of net sales (net margin). For the six months ended June 27, 2026, our net margin was 4.0 percent, and our adjusted EBITDA margin, calculated as described above, was 7.9 percent. We have not provided a quantitative reconciliation of the forward-looking adjusted EBITDA margin target to the most directly comparable GAAP measure because certain reconciling items and certain discrete tax items cannot be reasonably predicted due to the long-term nature of this target and the inherent variability and uncertainty of such items. These items could individually or in the aggregate be significant to the difference between adjusted EBITDA margin and the comparable GAAP measure.

# # #

---------------AT THE COMPANY---------------

Stanley Elliott

Director of Investor Relations

(804) 337-8217

‌Page 5

Exhibit 99.1

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND

COMPREHENSIVE INCOME (UNAUDITED)

FOR THE THREE AND SIX MONTHS ENDED

JUNE 2026/2025

Quarter Period

Year to Date

(In thousands, except per share data)

2026

2025

2026

2025

Net sales

1,882,937

100.0

1,835,374

100.0

3,344,204

100.0

3,430,893

100.0

Cost of sales

1,592,702

84.6

1,522,640

83.0

2,818,080

84.3

2,849,963

83.1

Gross profit

290,235

15.4

312,734

17.0

526,124

15.7

580,930

16.9

Operating expenses

Selling, general and administrative expenses

185,720

9.9

184,995

10.1

358,603

10.7

361,249

10.5

Net loss (gain) on disposition and impairments of assets

302

—

3,830

0.2

(1,350)

—

3,754

0.1

Other losses, net

797

—

818

—

1,374

—

584

—

Total operating expenses

186,819

9.9

189,643

10.3

358,627

365,587

Earnings from operations

103,416

5.5

123,091

6.7

167,497

5.0

215,343

6.3

Interest and other

(9,446)

(0.5)

(8,854)

(0.5)

(12,309)

(0.4)

(17,283)

(0.5)

Earnings before income taxes

112,862

6.0

131,945

7.2

179,806

5.4

232,626

6.8

Income taxes

29,691

1.6

31,074

1.7

45,538

1.4

52,332

1.5

Net earnings

83,171

4.4

100,871

5.5

134,268

4.0

180,294

5.3

Less net earnings attributable to noncontrolling interest

(299)

—

(137)

—

(622)

—

(807)

—

Net earnings attributable to controlling interest

82,872

4.4

100,734

5.5

133,646

4.0

179,487

5.2

Earnings per share - basic

1.48

1.70

2.38

2.99

Earnings per share - diluted

1.48

1.70

2.37

2.99

Comprehensive income

82,922

112,609

133,116

195,213

Less comprehensive income attributable to noncontrolling interest

(825)

(1,754)

(1,083)

(2,391)

Comprehensive income attributable to controlling interest

82,097

110,855

132,033

192,822

‌Page 6

Exhibit 99.1

CONDENSED CONSOLIDATED STATEMENTS

OF EARNINGS BY SEGMENT (UNAUDITED)

FOR THE THREE MONTHS ENDED JUNE 2026/2025

Quarter Period 2026

(In thousands)

Retail

Packaging

Construction

All Other

Corporate

Total

Net sales

818,743

458,245

526,777

76,927

2,245

1,882,937

Cost of sales

704,096

397,886

436,449

64,058

(9,787)

1,592,702

Gross profit

114,647

60,359

90,328

12,869

12,032

290,235

Selling, general and administrative expenses

62,717

45,580

63,930

10,088

3,405

185,720

Net loss (gain) on disposition and impairments of assets

1,780

106

(1,695)

302

Other losses, net

404

—

129

243

797

Earnings from operations

49,746

14,673

26,232

2,464

10,301

103,416

Interest and other

(368)

(818)

(397)

(5,413)

(2,450)

(9,446)

Earnings before income taxes

50,114

15,491

26,629

7,877

12,751

112,862

Income taxes

13,096

4,176

6,998

1,663

3,758

29,691

Net earnings

37,018

11,315

19,631

6,214

8,993

83,171

Quarter Period 2025

(In thousands)

Retail

Packaging

Construction

All Other

Corporate

Total

Net sales

788,224

428,669

551,590

65,026

1,865

1,835,374

Cost of sales

674,484

358,087

451,401

51,789

(13,121)

1,522,640

Gross profit

113,740

70,582

100,189

13,237

14,986

312,734

Selling, general and administrative expenses

58,642

43,148

63,727

10,398

9,080

184,995

Net loss (gain) on disposition and impairments of assets

1,083

1,225

211

2,616

(1,305)

3,830

Other losses (gains), net

536

—

191

302

(211)

818

Earnings from operations

53,479

26,209

36,060

(79)

7,422

123,091

Interest and other

(54)

(795)

—

(2,512)

(5,493)

(8,854)

Earnings before income taxes

53,533

27,004

36,060

2,433

12,915

131,945

Income taxes

12,405

6,371

8,497

419

3,382

31,074

Net earnings

41,128

20,633

27,563

2,014

9,533

100,871

‌Page 7

Exhibit 99.1

CONDENSED CONSOLIDATED STATEMENTS

OF EARNINGS BY SEGMENT (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 2026/2025

Year to Date 2026

(In thousands)

Retail

Packaging

Construction

All Other

Corporate

Total

Net sales

1,349,919

852,338

992,290

145,432

4,225

3,344,204

Cost of sales

1,154,710

731,631

824,345

120,840

(13,446)

2,818,080

Gross profit

195,209

120,707

167,945

24,592

17,671

526,124

Selling, general and administrative expenses

118,763

90,783

125,756

19,066

4,235

358,603

Net loss (gain) on disposition and impairments of assets

1,848

(64)

(3,259)

(1,350)

Other losses, net

459

—

552

349

1,374

Earnings from operations

74,139

29,988

41,587

5,102

16,681

167,497

Interest and other

(438)

(778)

(400)

(7,233)

(3,460)

(12,309)

Earnings before income taxes

74,577

30,766

41,987

12,335

20,141

179,806

Income taxes

18,887

7,792

10,633

2,567

5,659

45,538

Net earnings

55,690

22,974

31,354

9,768

14,482

134,268

Year to Date 2025

(In thousands)

Retail

Packaging

Construction

All Other

Corporate

Total

Net sales

1,395,607

838,677

1,067,530

125,324

3,755

3,430,893

Cost of sales

1,200,572

698,521

876,541

101,455

(27,126)

2,849,963

Gross profit

195,035

140,156

190,989

23,869

30,881

580,930

Selling, general and administrative expenses

113,997

90,917

126,511

18,860

10,964

361,249

Net loss (gain) on disposition and impairments of assets

1,107

1,257

331

2,616

(1,557)

3,754

Other losses (gains), net

318

—

271

248

(253)

584

Earnings from operations

79,613

47,982

63,876

2,145

21,727

215,343

Interest and other

(114)

(467)

(1)

(3,459)

(13,242)

(17,283)

Earnings before income taxes

79,727

48,449

63,877

5,604

34,969

232,626

Income taxes

17,936

10,899

14,370

1,088

8,039

52,332

Net earnings

61,791

37,550

49,507

4,516

26,930

180,294

‌Page 8

Exhibit 99.1

RECONCILIATION OF NET EARNINGS TO

ADJUSTED EBITDA BY SEGMENT (UNAUDITED)

FOR THE THREE MONTHS ENDED JUNE 2026/2025

Quarter Period 2026

(In thousands)

Retail

Packaging

Construction

All Other

Corporate

Total

Net earnings

37,018

11,315

19,631

6,214

8,993

83,171

Interest and other

(368)

(818)

(397)

(5,413)

(2,450)

(9,446)

Income taxes

13,096

4,176

6,998

1,663

3,758

29,691

Expenses associated with share-based compensation arrangements

1,582

1,745

2,462

117

1,092

6,998

Net loss (gain) on disposition and impairments of assets

1,780

106

(14)

(1,695)

251

Impairment of intangibles

—

Depreciation expense

9,907

9,308

6,640

853

11,573

38,281

Amortization of intangibles

919

2,101

674

1,673

116

5,483

Adjusted EBITDA

63,934

27,933

36,045

5,181

21,387

154,480

Net earnings as a percentage of net sales

4.5%

2.5%

3.7%

8.1%

4.4%

Adjusted EBITDA as a percentage of net sales

7.8%

6.1%

6.8%

6.7%

8.2%

* Not meaningful

Quarter Period 2025

(In thousands)

Retail

Packaging

Construction

All Other

Corporate

Total

Net earnings

41,128

20,633

27,563

2,014

9,533

100,871

Interest and other

(54)

(795)

—

(2,512)

(5,493)

(8,854)

Income taxes

12,405

6,371

8,497

419

3,382

31,074

Expenses associated with share-based compensation arrangements

867

1,617

2,175

174

3,976

8,809

Net loss (gain) on disposition and impairments of assets

1,083

1,225

211

2,616

(1,305)

3,830

Gain from reduction of estimated earnout liability

—

(1,511)

—

(1,511)

Depreciation expense

7,592

9,090

6,330

1,109

9,879

34,000

Amortization of intangibles

957

2,166

704

1,671

430

5,928

Adjusted EBITDA

63,978

38,796

45,480

5,491

20,402

174,147

Net earnings as a percentage of net sales

5.2%

4.8%

5.0%

3.1%

5.5%

Adjusted EBITDA as a percentage of net sales

8.1%

9.1%

8.2%

8.4%

9.5%

* Not meaningful

‌Page 9

Exhibit 99.1

RECONCILIATION OF NET EARNINGS TO

ADJUSTED EBITDA BY SEGMENT (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 2026/2025

Year to Date 2026

(In thousands)

Retail

Packaging

Construction

All Other

Corporate

Total

Net earnings

55,690

22,974

31,354

9,768

14,482

134,268

Interest and other

(438)

(778)

(400)

(7,233)

(3,460)

(12,309)

Income taxes

18,887

7,792

10,633

2,567

5,659

45,538

Expenses associated with share-based compensation arrangements

3,360

3,971

5,332

229

2,578

15,470

Net loss (gain) on disposition and impairments of assets

1,848

(64)

(1)

(3,259)

(1,401)

Impairment of intangibles

—

Depreciation expense

17,664

17,624

13,414

1,863

22,801

73,366

Amortization of intangibles

1,755

4,204

1,349

3,313

232

10,853

Adjusted EBITDA

98,766

55,723

61,732

10,582

39,033

265,836

Net earnings as a percentage of net sales

4.1%

2.7%

3.2%

6.7%

4.0%

Adjusted EBITDA as a percentage of net sales

7.3%

6.5%

6.2%

7.3%

7.9%

* Not meaningful

Year to Date 2025

(In thousands)

Retail

Packaging

Construction

All Other

Corporate

Total

Net earnings

61,791

37,550

49,507

4,516

26,930

180,294

Interest and other

(114)

(467)

(1)

(3,459)

(13,242)

(17,283)

Income taxes

17,936

10,899

14,370

1,088

8,039

52,332

Expenses associated with share-based compensation arrangements

2,291

3,781

5,000

438

8,860

20,370

Net loss (gain) on disposition and impairments of assets

1,107

1,257

331

2,616

(1,557)

3,754

Gain from reduction of estimated earnout liability

—

(1,511)

(344)

—

(1,855)

Depreciation expense

14,902

17,987

12,521

2,053

19,478

66,941

Amortization of intangibles

1,914

4,345

1,406

3,272

808

11,745

Adjusted EBITDA

99,827

73,841

82,790

10,524

49,316

316,298

Net earnings as a percentage of net sales

4.4%

4.5%

4.6%

3.6%

5.3%

Adjusted EBITDA as a percentage of net sales

7.2%

8.8%

7.8%

8.4%

9.2%

* Not meaningful

‌Page 10

Exhibit 99.1

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

JUNE 2026/2025

(In thousands)

Assets

2026

2025

Liabilities and equity

2026

2025

Current assets

Current liabilities

Cash and cash equivalents

597,263

841,930

Accounts payable

292,979

258,784

Restricted cash

1,604

1,061

Accrued liabilities and other

259,004

257,212

Investments

46,330

32,021

Current portion of debt

5,493

5,122

Accounts receivable

731,092

687,332

Inventories

748,504

722,232

Total current liabilities

557,476

521,118

Other current assets

94,349

82,929

Long-term debt and finance lease obligations

228,758

229,181

Total current assets

2,219,142

2,367,505

Other liabilities

258,702

173,373

Other assets

323,382

289,347

Temporary equity

485

5,253

Intangible assets, net

481,563

494,495

Property, plant and equipment, net

1,080,777

946,041

Shareholders' equity

3,059,443

3,168,463

Total assets

4,104,864

4,097,388

Total liabilities and equity

4,104,864

4,097,388

‌Page 11

Exhibit 99.1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED

JUNE 2026/2025

(In thousands)

2026

2025

Cash flows from operating activities:

Net earnings

134,268

180,294

Adjustments to reconcile net earnings to net cash from operating activities:

Depreciation

73,366

66,941

Amortization of intangibles

10,853

11,745

Expense associated with share-based and grant compensation arrangements

15,470

20,370

Deferred income taxes

(2,443)

(226)

Unrealized gain on investment and other

(4,036)

(654)

Impairment of investments

4,000

—

Equity in earnings of investee

(979)

(794)

Net (gain) loss on sale, disposition and impairment of assets

(1,401)

3,754

Impairment of intangibles

—

Gain from reduction of estimated earnout liability

—

(1,855)

Changes in:

Accounts receivable

(245,592)

(184,404)

Inventories

(2,324)

2,461

Accounts payable

86,514

32,887

Accrued liabilities and other

(7,102)

(17,381)

Net cash from operating activities

60,645

113,138

Cash flows used in investing activities:

Capital expenditures

(86,576)

(129,752)

Proceeds from sale of property, plant and equipment

11,711

3,694

Acquisitions and purchases of non-controlling interest, net of cash received

(122,008)

(15,706)

Purchases of investments

(19,825)

(16,873)

Proceeds from sale of investments

10,801

7,467

Other

1,862

1,591

Net cash used in investing activities

(204,035)

(149,579)

Cash flows used in financing activities:

Borrowings under revolving credit facilities

23,703

13,357

Repayments under revolving credit facilities

(19,033)

(12,814)

Contingent consideration payments and other

(1,939)

(221)

Proceeds from issuance of common stock

1,241

1,294

Dividends paid to shareholders

(40,390)

(41,978)

Distributions to noncontrolling interest

(1,082)

(285)

Purchase of remaining noncontrolling interest of subsidiary

(3,937)

—

Payments to taxing authorities in connection with shares directly withheld from employees

(1,391)

(9,560)

Repurchase of common stock

(140,457)

(251,933)

Other

(198)

Net cash used in financing activities

(183,233)

(302,338)

Effect of exchange rate changes on cash

419

2,176

Net change in cash and cash equivalents

(326,204)

(336,603)

All cash and cash equivalents, beginning of period

925,071

1,179,594

All cash and cash equivalents, end of period

598,867

842,991

Reconciliation of cash and cash equivalents and restricted cash:

Cash and cash equivalents, beginning of period

914,199

1,171,828

Restricted cash, beginning of period

10,872

7,766

All cash and cash equivalents, beginning of period

925,071

1,179,594

Cash and cash equivalents, end of period

597,263

841,930

Restricted cash, end of period

1,604

1,061

All cash and cash equivalents, end of period

598,867

842,991

‌Page 12

Exhibit 99.1

RECONCILIATION OF NET CASH FROM OPERATING

ACTIVITIES TO FREE CASH FLOW (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 2026/2025

(In thousands)

2026

2025

Net cash from operating activities

60,645

113,138

Increase in investment in net working capital

168,504

166,437

Maintenance capital expenditures(1)

(34,640)

(47,622)

Interest expense, net of taxes

3,458

4,173

Free cash flow

197,967

236,126

(1) Breakdown of Capital expenditures from the condensed consolidated statements of cash flows:

Maintenance capital expenditures

34,640

47,622

Expansionary and efficiency capital expenditures

51,936

82,130

Total Capital expenditures

86,576

129,752

‌Page 13

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