Simpson Manufacturing Q3 net sales up 1.2% to $587M; EPS $2.21 vs $2.43; cuts FY2024 outlook

Simpson Manufacturing Co., Inc.

2024-Q3 EPS reported $6.28 revenue$1,714,710,000

Net sales $587.2M (+1.2% YoY); net income $93.5M ($2.21 diluted EPS), down 10.1% and 9.1% YoY respectively.
Operating income $124.9M, margin 21.3% vs 24.2% a year ago; gross margin fell to 46.8% from 48.8%.
Adjusted EBITDA $148.3M, down 6.6% YoY.
Revising full-year 2024 outlook citing reduced housing start expectations.
North America volumes flat YoY; national retail and OEM strength offset residential/commercial weakness.

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