Simpson Manuf Stock Price, News & Analysis

Simpson Manufacturing Co. (NYSE: SSD) reported Q1 2023 net sales of $534.4 million, an increase of 8.3% year-over-year. However, income from operations fell by 4.9% to $118.4 million, while diluted earnings per share decreased by 6.0% to $2.05. North America sales decreased 7.4% to $406.3 million, attributed to lower volumes, while Europe saw a substantial growth of 141.4% to $124.2 million, driven primarily by the acquisition of ETANCO. The consolidated gross profit rose 6.8% to $252.9 million, but gross margin decreased slightly to 47.3%. Management has adjusted the full-year operating margin outlook to 19% to 21%, predicting challenges due to a weaker housing market.

Simpson Manufacturing Co., Inc. (NYSE: SSD), a leader in engineered structural connectors and building solutions, will report its first-quarter financial results for the period ended March 31, 2023, on April 24, 2023, at 4:15 p.m. Eastern Time. The conference call will be hosted by President and CEO Michael Olosky and CFO Brian Magstadt at 5:00 p.m. Eastern Time, accessible via the Company’s Investor Relations website. Investors can call in using (877) 407-0792 for the U.S. and Canada, or (201) 689-8263 for international participants. A replay of the call will be available starting April 24, 2023, at 8:00 p.m. until May 8, 2023. Simpson specializes in manufacturing wood and concrete construction products and supplies to markets in North America and Europe.