- Simpson Manufacturing’s net sales for the third quarter were $587.2 million, marking a modest 1.2% increase compared to the previous year.
- The net sales figure met expectations but fell slightly short of the estimated $588.7 million.
- Earnings per share (EPS) for the third quarter were $2.21, which is lower than both the previous year’s $2.43 and the estimated $2.40.
- The company is revising its full-year 2024 outlook due to lowered expectations for housing starts.
- The President and CEO, Mike Olosky, noted that despite challenging conditions in the U.S. and European housing markets, the company achieved a higher average sales price per pound due to product mix.
- A greater volume of discounts was applied due to customer mix.
- North America volume grew 500 basis points ahead of U.S. housing starts over the past twelve months.
- Current analyst recommendations include 2 buys, 1 hold, and 0 sell ratings for Simpson Manufacturing.
Simpson Manufacturing Co, Inc on Smartkarma
Independent analysts on Smartkarma have been closely following Simpson Manufacturing Co, Inc, providing valuable insights into the company’s financial performance and market strategies. Baptista Research, in their report on Simpson Manufacturing’s second quarter 2024 results, highlighted the company’s resilience in a challenging housing market. With net sales of $597 million, consistent with the previous year, Simpson Manufacturing demonstrated stability amidst market turbulence.
In another report by Baptista Research, analysts discussed Simpson Manufacturing’s First Quarter 2024 performance in the context of a challenging housing market landscape. Despite a modest year-over-year decline in net sales of $530.6 million, the company saw increased sales volumes in North America, driven by a flat U.S. housing market. Analysts are closely monitoring Simpson Manufacturing’s expansion efforts and market dynamics to assess the company’s growth potential in the face of industry challenges.
A look at Simpson Manufacturing Co, Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
The long-term outlook for Simpson Manufacturing Co, Inc appears positive, with a strong score in Growth and Momentum. The company has a solid foundation for future expansion and is showing promising signs of continued growth. Additionally, its Resilience score indicates a certain level of stability in the face of market volatility, providing investors with a sense of security. While the Value and Dividend scores are average, the higher scores in Growth and Momentum suggest that Simpson Manufacturing Co, Inc is well-positioned for long-term success.
Simpson Manufacturing Co., Inc, known for its wood connectors and venting systems, is poised for growth and has displayed strong momentum in its business operations. With a focus on innovation and resilience, the company is well-equipped to navigate challenges and capitalize on opportunities in the market. Investors may find confidence in the company’s growth prospects and overall stability, making Simpson Manufacturing Co, Inc a potential attractive long-term investment option.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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