Simpson Q1 net sales $530.6M (-0.7% YoY); EPS $1.77 vs $2.05; op margin 18.1%

Simpson Manufacturing Co., Inc.

2024-Q1 EPS reported $1.77 revenue$530,579,000

Net income $75.4M ($1.77 diluted EPS) down from $88.0M ($2.05) a year ago.
North America volumes +8% lbs shipped, but net sales flat at $406.7M due to price cuts and discount timing.
Europe net sales fell 3.4% to $119.9M on lower volumes; gross margin slid to 36.4% from 37.5%.
FY 2024 guidance: operating margin 20.0%-21.5%, capex ~$185M (incl. $105M for facility expansions).
Consolidated gross margin 46.1% vs 47.3%; operating margin 18.1% vs 22.1%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Simpson Manufacturing Co., Inc. reported the first quarter of 2024 results: revenue $530.6 million, net income $75.4 million, EPS $1.77 per diluted share.

Period: the first quarter of 2024
Revenue: $530.6 million
Net income: $75.4 million
EPS: $1.77 per diluted share
Result: reported results

Exact text from the filing

Press Release dated April 22, 2024 SIMPSON MANUFACTURING CO., INC. ANNOUNCES 2024 FIRST QUARTER FINANCIAL RESULTS Pleasanton, CA – April 22, 2024 l Net sales of $530.6 million l Income from operations of $96.1 million l Net income per diluted share of $1.77 Simpson Manufacturing Co., Inc. (the “Company”) (NYSE: SSD), an industry leader in engineered structural connectors and building solutions, today announced its financial results for the first quarter of 2024.

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Source: SEC EDGAR

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