UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . Commission file number: 1-13429 Simpson Manufacturing Co., Inc. (Exact name of registrant as specified in its charter) Delaware 94-3196943 (State or other jur ...

Key PointsSimpson Manufacturing stock doubled in 2023 and is on track to double again over the next year or two.Industry-leading growth, investment in expansion and capital returns are driving the story. Analysts support the market and are leading it higher. 5 stocks we like better than Simpson ManufacturingSimpson Manufacturing’s NYSE: SSD share price more than doubled in 2023 and is on track to double again over the coming years. The company is supported by a double tailwind with favorable housing market ...

Financial Data and Key Metrics Changes - In Q4 2023, net sales totaled $501.7 million, reflecting a 5.5% increase over Q4 2022 [5][24] - Annual net sales reached $2.2 billion, with a 21.5% operating income margin and earnings per diluted share of $8.26 [11][35] - Consolidated gross margin improved to 47.1% from 44.5% in the previous year, driven by lower raw material costs and productivity improvements [45][59] Business Line Data and Key Metrics Changes - In North America, net sales increased 5.3% to $387.8 million, with wood product volume up 10.2% and concrete product volume up 7.5% [24][42] - In Europe, annual net sales were $480.8 million, a 20.1% increase over 2022, with a gross margin of 34.2% [6][55] - The OEM market saw low single-digit volume improvements, while national retail was slightly down [13][42] Market Data and Key Metrics Changes - U.S. housing starts finished below 2022 levels, but a shortage of approximately 2 million homes is expected to support market attractiveness [5][22] - The European market faced challenges, yet ETANCO sales remained stable compared to 2022 levels [6][30] Company Strategy and Development Direction - The company aims to invest in growth opportunities, including new product launches and market penetration, with a focus on innovation and customer service [4][20] - Strategic investments are expected to accelerate compounded annual growth rates above market levels, targeting a top quartile profitability [51][52] - The company is shifting away from two-step distribution to enhance direct relationships with distribution partners [46][120] Management's Comments on Operating Environment and Future Outlook - Management anticipates a challenging first half of 2024, with expectations for low single-digit growth overall [22][90] - The company remains confident in its ability to outperform the market, having historically achieved growth above market rates [92][91] - There is a commitment to maintaining a strong balance sheet and liquidity to support growth strategies [23][31] Other Important Information - The company generated strong cash from operations of $429.9 million in 2023, financing significant capital expenditures and share repurchases [51][84] - Capital expenditures for 2024 are estimated at approximately $200 million, including expansions in Ohio and Tennessee [65][138] Q&A Session Summary Question: Outlook for 2024 and growth expectations - Management expects flat to positive growth in the first half of 2024, with a stronger second half anticipated [37][90] Question: SG&A expenses and growth expectations - SG&A growth is expected to align with revenue growth, with a focus on maintaining investments for long-term growth [71][77] Question: Gross margin expectations and cost drivers - A modest pullback in gross margin is anticipated for 2024 due to new capacity and increased labor and distribution costs [113][106] Question: Opportunities for further market penetration - Management sees solid growth opportunities across all market segments, with a focus on enhancing customer relationships and service [92][120] Question: ETANCO business outlook - The ETANCO segment is expected to grow due to increasing energy regulations, with a reported growth of 10-15% over the prior year [127][128]

PLEASANTON, Calif., Feb. 5, 2024 /PRNewswire/ --  Fourth quarter net sales of $501.7 million increased 5.5% year-over-year 2023 net sales of $2.2 billion increased 4.6% year-over-year 2023 net income per diluted share of $8.26 increased 6.5% year-over-year Declared a $0.27 per share dividend Repurchased $50.0 million in common stock in 2023 Simpson Manufacturing Co., Inc. (the "Company") (NYSE: SSD), an industry leader in engineered structural connectors and building solutions, today announced its financi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13429 Simpson Manufacturing Co., Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Simpson Manufacturing Co., Inc. (NYSE:SSD) Q3 2023 Earnings Conference Call October 23, 2023 5:00 PM ET Company Participants Kim Orlando - ADDO IR Michael Olosky - President and CEO Brian Magstadt - CFO Conference Call Participants Daniel Moore - CJS Securities Tim Wojs - Baird Kurt Yinger - D.A. Davidson Julio Romero - Sidoti & Company Operator Greetings. Welcome to the Simpson Manufacturing Co. Third Quarter 2023 Earnings Conference Call. [Operator Instructions] I will now turn the conference over to your ...

Sales Performance - The Company reported a 1.0% increase in wood construction product sales for Q2 2023 compared to Q2 2022, while concrete construction product sales increased by 8.2% during the same period[118]. - Europe sales decreased by 4.1% for Q2 2023 compared to Q2 2022, with wood construction product sales down 4.0% and concrete construction product sales down 4.2%[119]. - Net sales increased 0.7% to $597.6 million from $593.2 million, driven by higher sales volumes in North America, offsetting lower sales in Europe[123]. - Net sales for the first six months of 2023 increased 4.2% to $1,132.0 million, supported by ETANCO's additional quarter of sales[137]. - Net sales for the six months ended June 30, 2023, totaled $1,132.0 million, a 4.2% increase from $1,086.8 million in 2022, with significant growth in Europe[145]. Financial Metrics - The Company anticipates operating margin for fiscal 2023 to be in the range of 20.5% to 21.5%[122]. - Gross profit rose 10.8% to $287.5 million, with a consolidated gross margin of 48.1% compared to 43.7% last year[124]. - Gross profit increased by 8.9% to $540.3 million from $496.1 million, with gross margins rising to 47.7% from 45.6%[138]. - Consolidated net income was $195.2 million compared to $188.1 million, with diluted earnings per share rising to $4.55 from $4.34[144]. - The effective income tax rate decreased to 25.9% from 26.8%[128]. Expenses - Research and development expenses increased 27.1% to $21.5 million, primarily due to higher personnel costs and variable compensation[125]. - Selling expenses grew 11.9% to $50.4 million, mainly due to increased variable compensation and personnel costs[125]. - General and administrative expenses increased 17.7% to $68.8 million, driven by higher personnel costs and computer/software expenses[126]. - Research and development and engineering expenses rose by 28.9% to $42.3 million from $32.8 million, driven by higher personnel costs and variable compensation[139]. - Selling expenses increased to $99.1 million from $81.9 million, primarily due to higher personnel costs and variable compensation[140]. - General and administrative expenses grew to $132.5 million from $112.2 million, mainly due to increased personnel costs and depreciation[141]. Capital Expenditures - Capital expenditures for the fiscal year are estimated to be between $105.0 million and $115.0 million[122]. - Capital expenditures for the six months ended June 30, 2023, were $37.9 million, with total approved capital spending for 2023 expected to be between $105.0 million and $115.0 million[158]. Strategic Initiatives - The Company has identified opportunities to expand U.S. operations, which are expected to improve service and production efficiency[113]. - The integration of ETANCO is expected to incur additional costs in 2023, but the Company remains optimistic about capturing synergies in the long term[122]. - The Company expects to incur additional costs in 2023 for the integration of ETANCO, which is anticipated to provide long-term benefits despite short-term challenges[122]. - The Company aims to continue above-market growth relative to U.S. housing starts in fiscal 2023 and beyond[112]. - The Company has realigned its sales teams to focus on five end-use markets, leading to new customer and project wins[113]. Market Conditions - The decline in demand for housing starts is attributed to rising interest rates, inflation, and supply-chain factors, although multifamily housing construction has been less affected[115]. Dividend - The company declared a quarterly cash dividend of $0.27 per share, payable on October 26, 2023[160]. Steel Price Risk - The cost of steel increased in 2021 compared to historical levels due to a worldwide raw material shortage stemming from the COVID-19 pandemic[168]. - Steel price is subject to fluctuations across broad spectrums of the steel market, impacting variable costs[168]. - The company does not use any derivative or hedging instruments to manage steel price risk[168]. - Historically, the company has mitigated increased costs through price increases, but future success in this area is uncertain[168]. - Potential inability to mitigate increased steel costs could lead to a decline in operating margins[168].

Simpson Manufacturing Co., Inc. (NYSE:SSD) Q2 2023 Earnings Conference Call July 24, 2023 5:00 PM ET Company Participants Kimberly Orlando - ADDO Investor Relations Michael Olosky - President and Chief Executive Officer Brian Magstadt - Chief Financial Officer and Treasurer Conference Call Participants Daniel Moore - CJS Securities Timothy Wojs - Robert W. Baird & Co. Kurt Yinger - D.A. Davidson Julio Romero - Sidoti & Company Operator Greetings and welcome to the Simpson Manufacturing Co., Second Quarter 2 ...

Sales Performance - The Company reported a 9.9% decrease in wood construction product sales for Q1 2023 compared to Q1 2022, while concrete construction product sales increased by 6.3% during the same period[110]. - Europe sales increased by 141.4% for Q1 2023 compared to Q1 2022, primarily due to the acquisition of ETANCO, contributing $80.0 million in net sales[112]. - Net sales increased by 8.3% to $534.4 million from $493.6 million, primarily due to ETANCO contributing $80.0 million in net sales[116]. - North America net sales decreased by 7.4%, while Europe net sales increased by 141.4%[123]. Financial Projections - The Company anticipates operating margin for fiscal 2023 to be in the range of 19% to 21%[115]. - The effective tax rate is estimated to be in the range of 25% to 26% for fiscal 2023[115]. - The Company expects to incur additional costs in 2023 related to the integration of ETANCO, which were planned since the acquisition announcement[115]. - The Company aims to achieve above-market growth relative to U.S. housing starts in fiscal 2023 and beyond[106]. Capital Expenditures - Capital expenditures for fiscal 2023 are estimated to be between $90.0 million and $95.0 million, including $22.0 million to $25.0 million for the Columbus facility expansion[115]. - Total approved capital spending for 2023 is projected to be between $90.0 million and $95.0 million, including $22.0 million to $25.0 million for the Columbus, Ohio facility expansion[136]. - Capital spending for the same period was $18.8 million in 2023 compared to $17.8 million in 2022, mainly for machinery, equipment purchases, and software development[136]. Profitability and Expenses - Gross profit rose by 6.8% to $252.9 million, resulting in a consolidated gross margin of 47.3%, down from 48.0% last year[117]. - Research and development expenses increased by 30.8% to $20.7 million, driven by higher personnel costs and professional services[118]. - Selling expenses increased by 32.1% to $48.7 million, primarily due to higher personnel costs and commissions[119]. - General and administrative expenses rose by 18.5% to $63.7 million, mainly due to increased depreciation and personnel costs[120]. - Net income decreased to $88.0 million from $94.6 million, with diluted earnings per share at $2.05 compared to $2.18[122]. Cash Flow and Financing - Cash and cash equivalents as of March 31, 2023, were $252.5 million, down from $984.4 million a year earlier[134]. - Operating activities provided $2.96 million in cash, significantly lower than $44.68 million in the same period last year[135]. - Cash used in investing activities was $27.0 million for the three months ended March 31, 2023, primarily for capital expenditures and acquisition-related activities[136]. - Cash used in financing activities was $23.8 million, which included $11.1 million for dividends, $7.4 million for employee tax payments, and $5.6 million for debt repayment[137]. - The company has returned $417.0 million to stockholders since 2019, representing 55.5% of free cash flow, including the repurchase of over 3.1 million shares[139]. Debt and Risk Management - As of March 31, 2023, the outstanding debt under the Amended and Restated Credit Agreement was $577.5 million, exposing the company to interest rate fluctuations[144]. - The company has entered into an interest rate swap agreement to convert variable interest rates to fixed rates to manage cash flow variability[145]. - The company is exposed to commodity price risk, particularly with steel, which has seen price increases due to global shortages[146]. - Higher steel prices not mitigated by price increases may lead to declines in operating margins for 2023 compared to 2022[146]. - The company has no off-balance sheet arrangements as of March 31, 2023[140]. Integration and Strategic Initiatives - The Company has integrated ETANCO into its operations, contributing $9.4 million to operating income for Q1 2023, net of amortization and integration costs[112]. - The Company plans to continue expanding its wood product line and investing in venture capital funds focused on the home building industry[107]. - The company has passed four price increases to customers in 2021 to offset higher material costs, but has begun to reduce some prices in response to lower raw material costs in early 2023[107].

Financial Data and Key Metrics Changes - Consolidated net sales increased by 8.3% to $534.4 million, with North America segment net sales decreasing by 7.4% to $406.3 million due to lower sales volumes, while Europe saw a significant increase of 141.4% to $124.2 million, primarily from ETANCO [3][19] - Consolidated gross profit rose by 6.8% to $252.9 million, resulting in a gross margin of 47.3%, down from 48% in the previous year [4][10] - Net income totaled $88 million or $2.05 per fully diluted share, compared to $94.6 million or $2.18 per share in the prior year [10] Business Line Data and Key Metrics Changes - Wood construction products accounted for 85% of total sales, down from 88%, while concrete construction products increased to 14% from 12% [4] - Gross margin for wood products was 48%, slightly down from 48.1% in the prior year, while concrete products saw a decrease to 41.8% from 46.9% [5][10] - Research and development expenses increased by 30.8% to $20.7 million, driven by higher personnel costs and additional costs attributed to ETANCO [6] Market Data and Key Metrics Changes - North America faced a decline in sales due to significant precipitation affecting the residential market, while Europe experienced growth despite ongoing macroeconomic challenges [19][23] - The commercial market saw a decline in sales, but revenues from OEM customers increased year-over-year [21][23] - The overall operating income margin decreased to 22.1%, down approximately 310 basis points from 25.2% [10] Company Strategy and Development Direction - The company aims to maintain its industry-leading position through a diverse product portfolio and commitment to innovation, focusing on five end-use markets not solely tied to U.S. housing starts [21][25] - Continued integration of ETANCO is a priority, with a focus on achieving synergies in procurement and operational efficiencies [24][97] - The company is evaluating expansion opportunities, including a new manufacturing facility in Ohio, while also considering potential M&A opportunities to strengthen its business model [30][97] Management's Comments on Operating Environment and Future Outlook - Management expects continued softness in the North American housing market but remains confident in the company's ability to outperform due to its strong business model [21][36] - The effective tax rate is projected to be between 25% and 26%, and capital expenditures are expected to be in the range of $90 million to $95 million [38][39] - Despite macroeconomic uncertainties, management believes the future looks bright for the company, supported by ongoing growth initiatives [39][98] Other Important Information - Cash flow from operations was approximately $3.1 million, a decrease from $44.7 million in the previous year, with a debt balance of approximately $572.6 million [33][11] - The company is committed to effective inventory management to maintain high levels of customer service and on-time delivery [32] Q&A Session Summary Question: Guidance and Margin Outlook - Analyst inquired about the margin guidance and the factors that could lead to a decline in margins despite a strong Q1 performance [43] - Management indicated that they expect some weakness in the latter half of the year, particularly in Q4, but are optimistic about volume outlook [44][46] Question: Demand Perspective - Analyst asked for context on demand trends compared to three months ago and how April is trending [50] - Management noted that while housing starts are down, other markets like multifamily and the East Coast are performing relatively well [53] Question: Steel Costs Impact - Analyst questioned the impact of steel prices on operating margins and how much increase would be concerning [61] - Management confirmed that steel prices are currently favorable, and any significant changes would take time to impact margins due to inventory dynamics [63][64] Question: ETANCO Performance - Analyst asked about the performance of ETANCO and the sustainability of its growth [70] - Management expressed confidence in ETANCO's growth, attributing it to cross-selling and market share gains, although some offensive synergies may be delayed [76] Question: Seasonal Trends - Analyst inquired about expected seasonal trends for Q2 compared to Q1 [79] - Management indicated that while seasonality has been less impactful in recent years, they expect a more pronounced difference this year due to weather conditions [80] Question: Asia Pacific Initiatives - Analyst asked for updates on the Asia Pacific market and initiatives [89] - Management highlighted ongoing efforts in Australia and New Zealand, focusing on expanding product offerings and sales initiatives [93]