UFP Industries, Inc.’s UFPI shares jumped more than 7% in the after-hours trading session on Jul 22, after the company reported impressive earnings for second-quarter 2020. Earnings and revenues not only surpassed the Zacks Consensus Estimate but also grew on a year-over-year basis, given greater-than-expected demand for home improvement products as well as lower costs.Recently, the company acquired T&R Lumber, a manufacturer and distributer of products primarily used by nurseries, including tree boxes, plastic containers, stakes as well as trellises.Earnings & Net Sales DiscussionDuring the reported quarter, UFP Industries reported earnings of $1.08 per share, comfortably surpassing the consensus mark of 63 cents by 71.4% and increasing 22.7% from the year-ago period.Universal Forest Products, Inc. Price, Consensus and EPS Surprise Universal Forest Products, Inc. price-consensus-eps-surprise-chart | Universal Forest Products, Inc. QuoteNet sales of $1.24 billion topped the consensus mark of $1.09 billion by 13.8% and inched up 0.2% on a year-over-year basis. Higher lumber prices resulted in 3% year-over-year growth, offset by a 3% decline in unit sales. Retail sales contributed to overall sales growth, with 3% improvement in April and 47% in June.New product sales grew 6% year over year, driven by a 16% rise in retail sales.End-Market Sales DiscussionUFP Retail: The segment reported sales of $609.2 million during the quarter, up 26.4% year over year. Retail unit sales were also up 22% from the year-ago quarter, backed by 72% growth in Home and Decor, 27% rise in ProWood, 23% improvement in Fence, Lawn and Garden, along with 9% increase in UFP-Edge. Selling prices drove the same by 4%.UFP Industrial: The Industrial segment’s sales totaled $224.4 million, reflecting a decline of 23% from the year-ago period. During the quarter, unit sales fell 27% year over year, partially offset by 4% higher selling prices.UFP Construction: Sales in the segment were $359.2 million, down 13.4% year over year. A 16% decline in unit sales was partially offset by a 3% increase in selling prices. Unit sales fell in all the segments: 5% in Concrete Forming, 20% in Factory Built, 19% in Commercial and 15% in Site Built.Notably, both Industrial and Construction showed a steady improvement from April to June.Operating HighlightsGross margin of 16.5% improved 140 basis points (bps) year over year. Selling, general and administrative expenses — accounting for 9.2% of net sales — increased 10 bps year over year. EBITDA of $110.4 million increased 22% year over year.Balance Sheet & Cash FlowAt the end of the quarter, cash and cash equivalents were $200.5 million, significantly up from $20.5 million in the comparable prior-year period. In the past six months, net cash from operating activities totaled $147.2 million compared with $70.9 million in the corresponding period of 2019Zacks RankUFP Industries — which shares space with Trex Company, Inc. TREX, Louisiana-Pacific Corporation LPX and Weyerhaeuser Company WY in the Zacks Building Products - Wood industry — currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Weyerhaeuser Company (WY): Free Stock Analysis Report Universal Forest Products, Inc. (UFPI): Free Stock Analysis Report Trex Company, Inc. (TREX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research