Simpson(SSD)

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Simpson(SSD) - 2025 Q1 - Quarterly Results
2025-04-28 20:22
Exhibit 99.1 Press Release dated April 28, 2025 Simpson Manufacturing Co., Inc. Announces 2025 First Quarter Financial Results and Reaffirms 2025 Guidance Pleasanton, CA - April 28, 2025: 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 2025. All comparisons below (which are generally indicated by words such as "increased," "decreased," "remained," or "com ...
Simpson Manufacturing Co., Inc. Announces 2025 First Quarter Financial Results and Reaffirms 2025 Guidance
Prnewswire· 2025-04-28 20:15
Net sales of $538.9 million increased 1.6% year-over-year Income from operations of $102.3 million, resulting in operating income margin of 19.0% Net income per diluted share of $1.85 Repurchased $25.0 million in common stockPLEASANTON, Calif., April 28, 2025 /PRNewswire/ -- 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 2025. All comparisons below (whi ...
Simpson Manufacturing Co., Inc. to Announce First Quarter 2025 Financial Results on Monday, April 28th
Prnewswire· 2025-04-14 13:00
Core Viewpoint - Simpson Manufacturing Co., Inc. will report its financial results for the first quarter of 2025 on April 28, 2025, at 4:15 p.m. Eastern Time, followed by a conference call at 5:00 p.m. Eastern Time [1][2]. Group 1: Financial Reporting Details - The financial results will cover the period ended March 31, 2025 [1]. - The conference call will be hosted by Michael Olosky, President and CEO, and Matt Dunn, CFO and Treasurer [1]. - The call will be accessible via the Investor Relations section of the Company's website [1]. Group 2: Conference Call Information - The conference call is scheduled for April 28, 2025, at 5:00 p.m. Eastern Time, which is 2:00 p.m. Pacific Time and 4:00 p.m. Central Time [2]. - Dial-in numbers for the call include (877) 407-0792 for U.S. and Canada and (201) 689-8263 for international participants [2]. - A replay of the call will be available starting at 8:00 p.m. Eastern Time on the same day until May 12, 2025 [2]. Group 3: Company Overview - Simpson Manufacturing Co., Inc. is headquartered in Pleasanton, California, and is a leading manufacturer of wood and concrete construction products [3]. - The Company supplies building product solutions primarily to residential and commercial markets in North America and Europe [3]. - The common stock of the Company trades on the New York Stock Exchange under the symbol "SSD" [3].
Simpson(SSD) - 2024 Q4 - Annual Report
2025-03-01 01:26
Product Development and Innovation - The company produced and marketed over 15,000 standard and custom products for wood construction applications, contributing to structural integrity and resistance to seismic, wind, and gravitational forces[21]. - The company developed over 65 new products in 2024, expanding its product offerings significantly[28]. - The company has a commitment to innovation, with extensive product testing capabilities at its state-of-the-art labs[35]. - The company continues to develop new potentially patentable products and enhancements, with a focus on securing intellectual property protection for innovations[40]. - The company is focused on expanding its software solutions to enhance collaboration with building industry partners and improve operational efficiencies[23]. - The company is investing in software development to enhance its offerings in the residential construction industry, but faces risks of obsolescence and competition from specialized software firms[75][77]. - The company is committed to continuous improvement and innovation, leveraging engineering expertise and relationships with builders and contractors[166]. Market Presence and Geographic Operations - The company has established a presence in Europe through the acquisition of ETANCO, significantly increasing its market presence across Europe[19]. - The company serves multiple geographic markets, including North America, Europe, and Asia/Pacific, with operations in various countries[25]. - Revenue from international sales was $591.5 million, accounting for approximately 26.5% of consolidated sales in 2024[86]. - Sales outside of the U.S. accounted for 26.5% of consolidated net sales in 2024[99]. - The North America Segment accounted for approximately 77.8% of the Company's net sales for the fiscal year ended December 31, 2024[41]. Financial Performance and Sales Trends - North America net sales increased by 1.1% to $2.23 billion for the year ended December 31, 2024, compared to $2.21 billion in 2023, driven by higher sales volumes despite product price decreases[175]. - Net sales increased by 1.1% to $2,232.1 million in 2024 from $2,213.8 million in 2023, with North America contributing $1,735.9 million, Europe $479.1 million, and Asia/Pacific $17.2 million[1]. - Operating income decreased by 7.1% to $439.6 million from $473.2 million, impacted by lower gross profits and increased personnel and integration costs[176]. - Gross profit decreased approximately 1.7% to $1.0 billion, with gross margins declining to 46.0% from 47.1% due to higher factory and overhead costs[183]. - The company faced challenges in passing increased costs of raw materials and energy to customers, which could adversely affect financial results[64]. - The company aims for above-market growth relative to U.S. housing starts, targeting an excess of approximately 250 basis points above historical average volume performance in North America[169]. Workforce and Talent Development - As of December 31, 2024, the Company employed approximately 5,872 employees globally, with 3,539 in the Americas, 1,536 in Europe, and 797 in Asia Pacific[43]. - The Company has a commitment to talent development, providing comprehensive global leadership development programs to enhance employee skills and capabilities[46]. - Approximately 18.4% of the Company's employees are represented by labor unions, with collective bargaining agreements in place at various locations[50]. - The Company has a diverse workforce, with women representing 22.0% of all employees and various ethnicities represented among U.S. employees[45]. - The Company’s compensation philosophy emphasizes internal pay equity, ensuring employees are rewarded based on performance regardless of personal characteristics[47]. Risks and Challenges - The company is vulnerable to cyber security risks, which could lead to data breaches and negatively impact profitability and reputation[80]. - Compliance with increasingly stringent environmental, social, and governance regulations poses potential liabilities and could affect the company's reputation and financial condition[70]. - The company may face challenges in renewing software agreements, which could affect access to critical software products[85]. - International operations are subject to various risks, including legal, regulatory, and economic factors that could adversely affect sales and financial results[86]. - Economic conditions, including inflation and interest rate volatility, may negatively impact demand for products and overall financial performance[102]. - Natural disasters could materially affect manufacturing capacity and financial condition, with insurance coverage potentially inadequate[110]. - The company faces risks related to design defects, product recalls, and liability claims that could adversely affect its business and financial condition[112]. - Claims regarding damage to structures incorporating the company's products may require significant time and resources to resolve, potentially impacting financial results[114]. - The company faces risks from governmental corruption and potential violations of the Foreign Corrupt Practices Act, which could lead to significant penalties[89]. Capital and Investment - The Company has made significant investments in production and warehouse capabilities, including a new facility in Gallatin, Tennessee, to enhance manufacturing and delivery[169]. - Capital expenditures for 2025 are estimated to be between $150 million and $170 million, including $75 million for facility expansions[181]. - The company had $388.1 million in borrowings under a term loan facility, with $450.0 million available under a revolving credit facility as of December 31, 2024[1]. - Cash and cash equivalents as of December 31, 2024, were $239.4 million, down from $429.8 million in 2023[1]. Shareholder Returns - The Company paid a total of $46.5 million in cash dividends during 2024 and declared a quarterly cash dividend of $0.28 per share to be paid on April 23, 2025[153]. - Approximately 559 thousand shares of the Company's common stock were repurchased in 2024 for a total amount of $100.0 million[159].
Simpson Manufacturing: After Surging, This Stock May Have Limited Upside
Seeking Alpha· 2025-02-11 05:29
Group 1 - Simpson Manufacturing (NYSE: SSD) announced financial results for the final quarter of the company's 2024 fiscal year after the market closed on February 10th [1] - The focus of the analysis is on cash flow and companies that generate it, highlighting value and growth prospects in the oil and natural gas sector [1] Group 2 - Subscribers have access to a 50+ stock model account and in-depth cash flow analyses of exploration and production (E&P) firms [2] - The service includes live chat discussions about the sector, enhancing community engagement and information sharing [2]
Simpson(SSD) - 2024 Q4 - Earnings Call Transcript
2025-02-11 02:50
Financial Data and Key Metrics Changes - For the full year 2024, net sales were $2.23 billion, reflecting modest growth over 2023 levels despite challenges in housing markets in the US and Europe [11] - Consolidated adjusted EBITDA totaled $520.1 million in 2024, a decline of 6.2% year-over-year, resulting in an adjusted EBITDA margin of 23.3% [18][37] - Consolidated net sales increased 3.1% year-over-year to $517.4 million in Q4 2024 [29] Business Line Data and Key Metrics Changes - In North America, net sales totaled $1.74 billion, up from $1.72 billion in 2023, driven by higher sales volumes [12] - The national retail market saw mid-single-digit increases, while the component manufacturing market improved in the high single-digit range [13][14] - In Europe, net sales were $479.2 million, relatively flat compared to the prior year, with a decrease of about 1% on a local currency basis [16] Market Data and Key Metrics Changes - North American volume performance exceeded US housing starts by approximately 600 basis points [11] - European business outperformed the local market on a volume basis, driven by new applications and customer wins [16] Company Strategy and Development Direction - The company aims to maintain an operating income margin at or above 20% and drive EPS growth ahead of net revenue growth [21][23] - Investments in Tennessee and other facilities are expected to enhance production capabilities and improve service delivery [25][42] - The company is focused on being the business partner of choice and striving to be an innovative leader in its markets [20] Management's Comments on Operating Environment and Future Outlook - Management expects US housing starts to improve in the low single-digit range for 2025, with growth weighted towards the second half of the year [22] - The company remains committed to returning at least 35% of free cash flow to shareholders despite market headwinds [23] - Management expressed confidence in the company's ability to outperform US housing starts, even in a declining market [27] Other Important Information - The company appointed Angela Drake as an independent non-employee director effective January 1, 2025 [26] - The company generated strong cash flow from operations of $117.7 million in Q4 and $339.8 million for the full year of 2024 [39] Q&A Session Summary Question: Outlook on US housing starts and margin guidance - Management indicated that the outlook for housing starts has softened, with expectations for low single-digit growth in 2025, and emphasized the need to monitor market conditions closely [51][54] Question: Changes in gross margin outlook - Management acknowledged that the gross margin outlook has been impacted by market conditions and ongoing investments, but remains committed to protecting margins [55][56] Question: Working capital and cash flow expectations for 2025 - Management provided guidance on capital expenditures for 2025, indicating a focus on completing ongoing projects and evaluating future investments based on market conditions [59][60] Question: Share gains relative to historical performance - Management noted that the company has historically outperformed housing starts and expects to continue this trend, leveraging investments made in the business [75][76] Question: Impact of higher input costs and pricing strategy - Management discussed the need to potentially adjust pricing in response to inflationary pressures and tariffs, while also working to offset costs through productivity improvements [80][84]
Simpson Mfg Revenue Beats Expectations
The Motley Fool· 2025-02-10 22:42
Core Insights - Simpson Manufacturing reported a strong fourth quarter, exceeding analyst expectations for both earnings and revenue [2][6] - The company achieved earnings per share (EPS) of $1.31, surpassing the expected $1.27, and total revenue of $517.4 million, exceeding the estimated $495 million [2][3] - The growth was supported by strategic acquisitions and volume growth in key markets, despite challenges in housing starts [6][7] Financial Performance - EPS for Q4 2024 was $1.31, a 2.3% increase from $1.28 in Q4 2023 [3] - Total revenue reached $517.4 million, reflecting a 3.1% increase from $501.7 million in the previous year [3][6] - Operating margin improved slightly to 14.9% from 14.3% year-over-year [3] - Adjusted EBITDA rose to $102.0 million, a 9.9% increase from $92.9 million in Q4 2023 [3] Business Overview - Simpson Manufacturing specializes in wood and concrete construction products, serving housing, commercial, and industrial markets [4] - The company focuses on innovation and expanding its product portfolio, including the development of digital tools [4] - Recent strategic acquisitions, such as Etancol, aim to enhance operations in Europe and support market expansion [5][7] Operational Highlights - North American sales increased by 4.4%, contributing to revenue growth despite a decline in operating income due to higher expenses [6] - The company faced challenges with increased overhead and warehouse costs, leading to a decrease in gross margin to 46% [8] - Simpson's strong brand recognition and customer loyalty continue to support its market position [8] Future Outlook - Management anticipates modest growth in U.S. housing starts into 2025, with operating income margins projected between 18.5% and 20.5% [9] - The company plans to pursue further acquisitions and improve efficiencies in product offerings [9] - There is a strategic focus on international expansion opportunities, particularly in Europe and Asia [10]
Simpson(SSD) - 2024 Q4 - Annual Results
2025-02-10 21:19
Financial Performance - Fourth quarter 2024 net sales were $517.4 million, a 3.1% increase from $501.7 million in Q4 2023[3] - Full year 2024 net sales reached $2.2 billion, reflecting a 0.8% year-over-year increase[3] - Gross profit for Q4 2024 was $227.7 million, up 3.3% from $220.5 million in Q4 2023, with a gross profit margin of 44.0%[3] - Full year 2024 income from operations was $430.0 million, resulting in an operating income margin of 19.3%[3] - Full year 2024 net income per diluted share was $7.60, down 8.0% from $8.26 in 2023[3] - Adjusted EBITDA for Q4 2024 was $102,035,000, compared to $92,872,000 in Q4 2023, reflecting a significant improvement[32] - The company reported a net income of $55,458,000 for Q4 2024, slightly up from $54,803,000 in Q4 2023[22] Shareholder Returns - The company declared a quarterly cash dividend of $0.28 per share, totaling $11.7 million[12] - The company repurchased 275,906 shares for $50.0 million during Q4 2024, completing a $100.0 million share repurchase program[12] Future Outlook - The 2025 outlook estimates consolidated operating margin to be in the range of 18.5% to 20.5%[12] - Capital expenditures for 2025 are estimated between $150.0 million and $170.0 million, including $75.0 million for facility expansions[12] - The company anticipates a low single-digit recovery in U.S. housing starts in 2025, with European housing starts expected to remain consistent with 2024 levels[4] Regional Performance - North America accounted for 78.2% of total net sales in Q4 2024, with sales of $404,752,000, up 4.4% from $387,805,000 in Q4 2023[27] - The gross profit margin for North America remained stable at 47.0% for Q4 2024[27] Research and Development - Research and development expenses for the twelve months ended December 31, 2024, totaled $93,576,000, an increase from $92,167,000 in 2023[22] Assets and Debt - The company’s total assets as of December 31, 2024, were $2,737,350,000, compared to $2,704,724,000 in 2023[24] - The company’s long-term debt, net of current portion, decreased to $362,563,000 from $458,791,000 in 2023[24] Strategic Focus - The company plans to continue focusing on market expansion and product development to drive future growth[19]
Simpson Manufacturing Co., Inc. to Announce Fourth Quarter and Full Year 2024 Financial Results on Monday, February 10th
Prnewswire· 2025-01-27 14:00
Core Points - Simpson Manufacturing Co., Inc. will report its financial results for Q4 and full year 2024 on February 10, 2025, at 4:15 p.m. Eastern Time [1] - The conference call will be hosted by Michael Olosky, President and CEO, and Matt Dunn, CFO and Treasurer, at 5:00 p.m. Eastern Time on the same day [1] - The call will be available for live streaming on the Company's Investor Relations website [1] Conference Call Details - Date of the conference call is set for February 10, 2025 [2] - The call will take place at 5:00 p.m. Eastern Time, with dial-in numbers provided for U.S., Canada, and international participants [2] - A replay of the call will be available from 8:00 p.m. Eastern Time on the same day until February 24, 2025 [2] Company Overview - Simpson Manufacturing Co., Inc. is headquartered in Pleasanton, California, and is a leading manufacturer of wood and concrete construction products [3] - The Company supplies building product solutions primarily to residential and commercial markets in North America and Europe [3] - The common stock of the Company trades on the New York Stock Exchange under the symbol "SSD" [3]
Simpson Manufacturing Co., Inc. Announces Participation at the CJS Securities 25th Annual New Ideas for the New Year Conference
Prnewswire· 2025-01-07 14:00
Core Viewpoint - Simpson Manufacturing Co., Inc. will participate in the CJS Securities 25th Annual New Ideas for the New Year Conference on January 14, 2025, with a virtual presentation scheduled at 11:45 a.m. ET [1] Group 1: Company Overview - Simpson Manufacturing Co., Inc. is headquartered in Pleasanton, California, and is a leading manufacturer of wood and concrete construction products [2] - The company designs and engineers a variety of products including connectors, truss plates, fastening systems, and adhesives, primarily serving residential and commercial markets in North America and Europe [2] - The company's common stock is traded on the New York Stock Exchange under the symbol "SSD" [2] Group 2: Event Details - The presentation at the conference will be webcast live and available for replay on the company's website for 90 days following the event [1]