Universal Forest Products, Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net sales of $1,294,440,000 against $1,072,375,000 a year ago. Earnings from operations were $60,617,000 against $53,899,000 a year ago. Earnings before income taxes were $58,550,000 against $52,409,000 a year ago. Net Earnings were $45,130,000 against $34,574,000 a year ago. EPS basic and diluted were $0.71 against $0.55 a year ago. EBITDA was $77,010,000 against $67,771,000 a year ago. Net debt was about $283 million at the end of second quarter compared to $205 million last year.

For six months, the company reported net sales of $2,288,297,000 against $1,918,505,000 a year ago. Earnings from operations were $104,835,000 against $87,720,000 a year ago. Earnings before income taxes were $101,708,000 against $84,814,000 a year ago. Net Earnings were $78,714,000 against $56,209,000 a year ago. EPS basic and diluted were $1.24 against $0.89 a year ago. Net Cash from Operating Activities was negative $36,072,000 against $15,211,000 a year ago. Purchases of property, plant, and equipment were $54,313,000 against $34,549,000 a year ago. EBITDA was $130,446,000 against $114,744,000 a year ago.

The company also reported impairment of assets for the quarter ended June 2018 of $477,000 against negative $264,000 a year ago.

The company anticipates effective tax rate of about 23.5% for the full year of 2018.