Core Points - Simpson Manufacturing Co., Inc. will report its financial results for the second quarter ended June 30, 2024, on July 22, 2024, at 4:15 p.m. Eastern Time [1] - The conference call will be hosted by Michael Olosky, President and CEO, and Brian Magstadt, CFO and Treasurer, at 5:00 p.m. Eastern Time on the same day [1] - The call will be available for live broadcast on the Company's Investor Relations website [1] Conference Call Details - Date: July 22, 2024, at 5:00 p.m. Eastern Time [2] - Dial-in numbers: (877) 407-0792 for U.S. and Canada, (201) 689-8263 for International [2] - Replay available from 8:00 p.m. Eastern Time on July 22, 2024, until 11:59 p.m. Eastern Time on August 5, 2024 [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]

Corporate Contributions and Community Engagement - The company made corporate contributions exceeding $2.5 million in 2023 [1] - Over the past 16 years, the company has donated more than $5.5 million in cash and products to Habitat for Humanity [1] - The number of scholarships offered has increased from 100 to 120 annually, with the scholarship amount raised from $2,500 to $3,000 [1] - The individual Matching Gift limit for employees has been increased from $1,000 to $5,000 [1] - A new role, Vice President of Strategic Partnerships & Engagement, has been established to enhance community connections and address skilled labor shortages in construction trades [1] Employee Engagement and Development - The company is partnering with Gallup to conduct the 2024 annual Global Employee Engagement Survey [1] - A financial platform named Origin has been launched to provide employees with comprehensive financial wellbeing tools [1] Diversity, Equity, and Inclusion Goals - The company has developed three goals related to diversity, equity, and inclusion [1] Safety and Environmental Commitments - The company aims to reduce its Total Recordable Incident Rate (TRIR) to below 1.5 by the end of 2024 [1] - An Innovation Pillar has been added to the company's report [1] - The company is committed to continuously improving its energy, water, and waste performance [1] Company Overview - Simpson Manufacturing Co., Inc. is a leading manufacturer of engineered structural connectors and building solutions, headquartered in Pleasanton, California [2][4] - The company primarily supplies building product solutions to residential and commercial markets in North America and Europe [4]

PLEASANTON, Calif., May 20, 2024 /PRNewswire/ -- Simpson Manufacturing Co., Inc. (the "Company") (NYSE: SSD), an industry leader in engineered structural connectors and building solutions, today announced Udit Mehta has joined the Company as Chief Technology Officer, effective May 10, 2024. Mr. Mehta will primarily be responsible for overseeing Simpson's technology infrastructure and customer- facing digital offering and will report directly to the Company's President and Chief Executive Officer, Mike Olosk ...

Sales Performance - North America net sales increased slightly for Q1 2024 compared to Q1 2023, with an 8% increase in sales volumes measured by pounds shipped, despite price decreases and increased rebates [105]. - Europe sales decreased by 3.4% for Q1 2024 compared to Q1 2023, primarily due to lower sales volumes in the residential market, partially offset by approximately $2.2 million in foreign currency translation [107]. - Net sales decreased by 0.7% to $530.6 million from $534.4 million, with North America sales volume increasing by 8% but offset by price decreases and increased volume rebates [111]. Profitability - Gross profit in Europe decreased by $2.8 million primarily due to lower net sales and a lower gross profit margin, mostly from higher warehouse and freight costs [107]. - Gross profit decreased by 3.3% to $244.6 million from $252.9 million, resulting in consolidated gross margins of 46.1% compared to 47.3% last year [112]. - Adjusted EBITDA decreased by 14.4% to $117.3 million from $137.0 million, primarily due to lower gross profits and increased costs [117]. - Net income was $75.4 million, down from $87.9 million, with diluted earnings per share decreasing to $1.77 from $2.05 [117]. Expenses - Research and development and engineering expense increased by 5.6% to $21.9 million, primarily due to increased personnel costs [113]. - Selling expense increased by 12.0% to $54.5 million, driven by higher personnel costs and advertising expenses [114]. - General and administrative expense rose by 10.2% to $70.2 million, mainly due to increased personnel and IT costs [115]. Capital Expenditures and Investments - Capital expenditures for 2024 are estimated to be approximately $185 million, which includes $105 million for the Columbus facility expansion and the new Gallatin facility construction [110]. - Cash used in investing activities totaled $39.4 million, primarily for facility expansion and equipment purchases, with estimated capital expenditures for 2024 revised to $185.0 million from $200.0 million [134]. Cash Flow and Liquidity - Cash and cash equivalents as of March 31, 2024, were $369.1 million, down from $429.8 million at the end of 2023 [131]. - Net cash provided by operating activities was $7.9 million, an increase from $3.0 million in the prior year [132]. - Operating activities generated $7.9 million in cash, with net income contributing $75.4 million and non-cash expenses of $24.8 million, partially offset by $92.3 million used for changes in operating assets and liabilities [133]. Taxation - The effective tax rate for 2024 is estimated to be in the range of 24.5% to 25.5%, assuming no tax law changes are enacted [110]. - The effective income tax rate decreased to 23.4% from 25.1% [116]. Shareholder Returns - A quarterly cash dividend of $0.28 per share was declared, payable on July 25, 2024, to stockholders of record on July 4, 2024 [136]. - Since 2021, the company has returned $344.9 million to stockholders, repurchasing over 1.7 million shares, representing approximately 3.9% of outstanding shares at the start of 2021 [137]. Debt and Interest Rate Management - Outstanding debt under the Amended and Restated Credit Agreement was $480.0 million, exposing the company to interest rate fluctuations [142]. - The company entered into an interest rate swap agreement to convert variable interest rates to fixed rates, aiming to stabilize cash flow associated with interest payments [143]. Market Outlook - The Company anticipates that the 2024 housing starts market will grow in the low single digits relative to fiscal year 2023 housing starts [105]. - The Company aims to achieve above-market growth in the United States relative to housing starts for fiscal 2024 and beyond [99]. Operational Developments - The integration of ETANCO has resulted in additional scale for European operations and the opportunity to realize synergies [98]. - The Company rolled out 14 new products globally during Q1 2024, contributing to growth in the DIY and construction contractor segments [98]. Risks - The company has foreign exchange rate risk, estimating that a 10% change in exchange rates would not materially affect net income [140]. - Steel prices have stabilized, but future increases could impact operating margins if costs cannot be mitigated through price increases [144].

PLEASANTON, Calif., May 6, 2024 /PRNewswire/ -- Simpson Manufacturing Co., Inc. (the "Company") (NYSE: SSD), an industry leader in engineered structural connectors and building solutions, today announced Roger Dankel's retirement from the Company effective June 30, 2025. Mr. Dankel will continue in his role as Executive Vice President, North America Sales of Simpson Strong-Tie Company Inc. through December 31, 2024, after which he will remain employed as an Executive Advisor until June 30, 2025. Mike Olosky ...

PLEASANTON, Calif., May 2, 2024 /PRNewswire/ -- Simpson Manufacturing Co., Inc. (the "Company") (NYSE: SSD), an industry leader in engineered structural connectors and building solutions, today announced that on May 1, 2024, the Company's Board of Directors (the "Board") declared a regular quarterly dividend of 28 cents per share on the Company's common stock. The dividend is payable on July 25, 2024, to stockholders of record on July 4, 2024. About Simpson Manufacturing Co., Inc.Simpson Manufacturing Co., ...

Key PointsSimpson Manufacturing stock is down because of today's end-market weakness, but the long-term outlook is robust.The company's healthy balance sheet and capital return strategy suggest this stock will be crowned a Dividend King. Analysts favor the name and see it moving higher. 5 stocks we like better than Simpson ManufacturingSimpson Manufacturing Co. NYSE: SSD sent its share price reeling as it reported its struggles during Q1 2024, but this is a great time to buy this construction stock. You don ...

Simpson Manufacturing Co., Inc. (NYSE:SSD) Q1 2024 Earnings Conference Call April 22, 2024 5:00 PM ET Company Participants Kim Orlando - ADDO Investor Relations Mike Olosky - President & Chief Executive Officer Brian Magstadt - Chief Financial Officer Conference Call Participants Daniel Moore - CJS Securities Tim Wojs - Baird Kurt Yinger - D.A. Davidson Operator Greetings. Welcome to the Simpson Manufacturing Company First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen ...

All comparisons below (which are generally indicated by words such as "increased," "decreased," "remained," or "compared to"), unless otherwise noted, are comparing the quarter ended March 31, 2024, with the quarter ended March 31, 2023. 2024 First Quarter Financial Highlights Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to U.S. GAAP ("GAAP") net income see the schedule titled "Reconciliation of Net Income to Adjusted EBITDA." 1 3 Exhibit 99.1 Press Release dated ...

Simpson Manufacturing Co., Inc. (SSD) is slated to report first-quarter 2024 results on Apr 22, after the closing bell.In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 16.3% and decreased 5.2% year over year. Net sales of $501.7 million increased 5.5% year over year.The company’s earnings topped analysts’ expectations in five of the trailing six quarters.The Trend in Estimate RevisionThe Zacks Consensus Estimate for Simpson Manufacturing’s first-quarter earnings is ...