Mon, Mar 3, 11:07 AM (14 days ago)
Simpson Manufacturing Co., Inc. (NYSE: SSD) reported a slight increase in net sales to approximately $2,232 million for the fiscal year ended December 31, 2024, compared to $2,214 million in 2023, driven by higher sales volumes and recent acquisitions. However, operating income decreased 7.1% to $440 million due to increased operating expenses and lower gross profit margins, which fell to 46% from 47.1%. Net income was approximately $322 million, translating to earnings per share of $7.60. The company continues to focus on strategic growth initiatives, including investments in production facilities and digital solutions, while maintaining a strong market position in North America and Europe. Risks include economic uncertainty, fluctuating raw material prices, and potential impacts from global health crises. The company ended 2024 with a strong liquidity position, including $239 million in cash. It also announced a new $100 million share repurchase program and declared a quarterly dividend of $0.28 per share. The outlook for 2025 anticipates modest growth in U.S. housing starts, with operating margins projected between 18.5% and 20.5%.