Simpson Manufacturing Co Inc

SSD

Equity

ISIN US8290731053 / Valor 240354

New York Stock Exchange, Inc (2025-03-14)

USD 158.13+2.42%

Simpson Manufacturing Co Inc
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About company

Simpson Manufacturing Co Inc, based in Pleasanton, California, is a leading manufacturer of wood and concrete construction products through its subsidiary, Simpson Strong-Tie Company Inc. The company designs and engineers a wide range of products including connectors, truss plates, fastening systems, fasteners, shear walls, adhesives, specialty chemicals, mechanical anchors, powder actuated tools, and reinforcing fiber materials. With a focus on quality and innovation, Simpson Manufacturing Co Inc serves the construction industry by providing essential products for building safe and durable structures.

Summarized from source with an LLMView SourceSector: Industrials

Net Sales Growth

Simpson Manufacturing Co., Inc. reported net sales of $587.2 million for the third quarter of 2024, marking a 1.2% increase compared to the same period in 2023. This growth was achieved despite challenging conditions in the housing markets across the U.S. and Europe.

Operating Income and Margin

The company's income from operations for the third quarter of 2024 was $124.9 million, resulting in an operating income margin of 21.3%. This represents a decrease from the previous year's operating income margin of 24.2%, primarily due to increased operating expenses.

Net Income and Earnings Per Share

Simpson Manufacturing Co., Inc. reported a net income of $93.5 million for the third quarter of 2024, which is a 10.1% decrease from the previous year. The net income per diluted share was $2.21, down from $2.43 in the third quarter of 2023.

Segment Performance

In North America, net sales increased by 1.0% to $461.4 million, driven by a favorable sales mix and acquisitions. In Europe, net sales rose by 1.8% to $121.2 million, benefiting from increased sales volumes and positive foreign currency translation effects.

Revised Outlook

Simpson Manufacturing Co., Inc. has revised its full-year 2024 outlook due to reduced housing start expectations. The company now anticipates U.S. housing starts to decline in the low single-digit range from 2023, with a projected operating margin between 19.0% and 19.5% for the year.

Summarized from source with an LLMView Source

Key figures

-19.6%1Y

36.2%3Y

127%5Y

Performance

29.9%1Y

31.8%3Y

37.3%5Y

Volatility