UFP Industries provides an update on the impact of Coronavirus (COVID-19)
“We are focused on the safety and well-being of our employees, vendors and customers during this critical period,” said CEO
Among the safety measures implemented by
“Our diverse business model has allowed us to adapt to changing customer needs,” Missad added. “We hope our country will be able to contain this virus quickly and dramatically reduce its physical and mental impact. We are encouraged by public discussions recognizing that many areas that are experiencing less impact from the virus may have restrictions lifted sooner. We wish to extend our utmost gratitude to the first responders, medical professionals and organizations working to contain COVID-19 and treat those affected by it. We also share our gratitude to drivers and other supply-chain employees for delivering essential items we need.”
In terms of existing capital availability,
Because of the uncertainty as to the geographic speed and duration of COVID-19, as well as the impact from actions taken, and that may be taken, by governments to regulate and restrict the flow of labor or products, the company’s operations and financial condition may be materially and adversely impacted over the longer term.
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 the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; adverse impact of global pandemics; government regulations, particularly involving environmental and safety regulations; and our ability to make successful business acquisitions. 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
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Source: UFP Industries