US Market News
2月前
Simpson Manufacturing Co., Inc. Announces 2026 First Quarter Financial Results and Reaffirms 2026 GuidanceApril 27, 2026 4:15 PM
PR Newswire (US)
2026 First Quarter HighlightsNet sales of $588.0 million increased 9.1% year-over-yearIncome from operations of $114.6 million increased 12.0% year-over-yearNet income per diluted share of $2.13 increased 15.1% year-over-yearRepurchased $50.0 million of common stock during the quarterPLEASANTON, Calif., April 27, 2026 /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 2026. 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, 2026 with the quarter ended March 31, 2025. In the first quarter of 2026, the Company reclassified certain software amortization costs related to the Company's component manufacturing efforts from general and administrative expense to cost of sales. Additionally, for the year ended December 31, 2025, the Company reclassified certain quality assurance costs from general and administrative expense to cost of sales. The financial results for the three months ended March 31, 2025 have been recast for comparison purposes and to conform to the current period classification, with $1.5 million of costs being reclassified from general and administrative expense to cost of sales. The reclassification did not have any impact on the total income from operations.Consolidated 2026 First Quarter Highlights
Three Months Ended
Year-Over-
March 31,
Year
2026
2025
Change
(In thousands, except per share data and percentages)Net sales$ 587,964
$ 538,895
9.1 %Gross profit265,891
250,566
6.1 %Gross profit margin45.2 %
46.5 %
Total operating expenses150,656
148,195
1.7 %Income from operations114,617
102,319
12.0 %Operating income margin19.5 %
19.0 %
Net income$ 88,216
$ 77,884
13.3 %Net income per diluted common share$ 2.13
$ 1.85
15.1 %Adjusted EBITDA1$ 139,361
$ 122,174
14.1 %
Total U.S. Housing starts - April 27, 2026 data not available2
______________________________1 Adjusted EBITDA is a non-GAAP financial measure and is defined in the Non-GAAP Financial Measures section of this press release. For a reconciliation of Adjusted EBITDA to U.S. GAAP (as defined below) net income, see the schedule titled "Reconciliation of Non-GAAP Financial Measures."2 The housing starts data was unavailable at the time of the press release. Based on the United States Census Bureau's release calendar, the Company expects the next update on national housing market data to be issued around April 29, 2026.Management Commentary"Simpson delivered a solid first quarter with net sales up 9.1% year-over-year to $588.0 million and operating margin improvement of 50 basis points to 19.5%," said Mike Olosky, President and Chief Executive Officer of Simpson Manufacturing Co., Inc. "Net sales growth was primarily driven by our 2025 pricing actions which contributed approximately 6%. Foreign exchange added an additional 3%, partially offset by a 1% decline in volume tied to softer housing start activity. Additionally, the cost savings initiatives we implemented last year contributed to improved operating income. I want to thank our team at Simpson for maintaining strong cost discipline throughout the quarter."Mr. Olosky continued, "While the first quarter was a solid start to the year, revenue growth is expected to moderate throughout the remainder of 2026, reflecting the timing of 2025 price increases and lower volumes amid challenging market conditions. Even with a more cautious view of housing activity, our full year financial outlook remains intact. Our teams continue to execute well, and we remain focused on driving disciplined, profitable growth consistent with our financial ambitions."North America Segment 2026 First Quarter Financial HighlightsNet sales of $461.9 million increased 9.8% from $420.7 million primarily due to price increases that took effect in June 2025 and October 2025 and an increase in sales volumes, as well as the positive effect of approximately $1.2 million in foreign currency translation.Gross margin declined to 47.8% from 49.8% reflecting primarily the impact from tariffs and higher material, labor and factory and overhead costs, as a percentage of net sales.Income from operations of $118.3 million increased 12.8% from $104.8 million, primarily due to the increases in net sales as well as lower operating expense including lower personnel costs, professional fees and variable incentive compensation.Europe Segment 2026 First Quarter Financial HighlightsNet sales of $121.0 million increased 6.3% from $113.9 million due to the positive effect of approximately $13.2 million in foreign currency translation as well as price increases, partly offset by decreased sales volumes.Gross margin increased to 36.3% from 35.2%, primarily driven by higher pricing and lower material costs, partly offset by higher factory and tooling costs, as a percentage of net sales.Income from operations of $7.1 million decreased 23.8% from $9.3 million primarily due to lower sales volumes. Operating expenses were negatively affected by approximately $3.8 million in foreign currency translation.Refer to the "Segment and Product Group Information" table below for additional segment information (including information about the Company's Asia/Pacific and Administrative and All Other segments).Corporate DevelopmentFor the quarter ended March 31, 2026, the Company repurchased 269,064 shares of common stock in the open market at an average price of $185.83 per share, for a total of $50.0 million. As of March 31, 2026, approximately $100.0 million remained available for share repurchases through December 31, 2026 under the Company's previously announced $150.0 million share repurchase authorization.Balance Sheet & 2026 First Quarter Cash Flow HighlightsAs of March 31, 2026, cash and cash equivalents totaled $341.0 million with total debt outstanding of $370.5 million under the Company's $900 million credit facility.Cash flow provided by operating activities of $35.9 million increased by $28.3 million from $7.6 million, primarily due to increased net income and changes in working capital.Cash flow used in investing activities of $19.1 million decreased by $31.0 million from $50.1 million primarily due to decreased capital expenditures.Business OutlookThe Company is reaffirming its prior 2026 financial outlook to reflect its expectations regarding demand trends, cost of sales, and operating expenses. Based on business trends and conditions as of today, April 27, 2026, the Company's outlook for the full fiscal year ending December 31, 2026 is as follows:Consolidated operating margin is estimated to be in the range of 19.5% to 20.5%. The operating margin range includes a projected gain of $10.0 million to $12.0 million on the sale of vacant land.The effective tax rate is estimated to be in the range of 25.0% to 26.0%, including both federal and state income tax rates as well as international income tax rates, and assuming no tax law changes are enacted.Capital expenditures are estimated to be in the range of $75.0 million to $85.0 million.Conference Call DetailsInvestors, analysts and other interested parties are invited to join the Company's 2026 first quarter financial results conference call on Monday, April 27, 2026, at 5:00 pm Eastern Time (2:00 pm Pacific Time). To participate, callers may dial (877) 407-0792 (U.S. and Canada) or (201) 689-8263 (International) approximately 10 minutes prior to the start time. The call will be webcast simultaneously and can be accessed through https://viavid.webcasts.com/starthere.jsp?ei=1756901&tp_key=61205759b3 or a link on the Investor Relations section of the Company's website at https://ir.simpsonmfg.com/events-and-presentations. For those unable to participate during the live broadcast, a replay of the call will also be available beginning that same day at 8:00 p.m. Eastern Time until 11:59 p.m. Eastern Time on Monday, May 11, 2026 by dialing (844) 512–2921 (U.S. and Canada) or (412) 317–6671 (International) and entering the conference ID: 13759442. The webcast will remain posted on the Investor Relations section of the Company's website for 90 days.A copy of this earnings release will be available prior to the call, accessible through the Investor Relations section of the Company's website at www.simpsonmfg.com. About Simpson Manufacturing Co., Inc.Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing carbon and glass fiber materials. The Company primarily supplies its building product solutions to both the residential and commercial markets in North America and Europe. The Company's common stock trades on the New York Stock Exchange under the symbol "SSD".Copies of Simpson Manufacturing's Annual Report to Stockholders and its proxy statements and other Securities and Exchange Commission ("SEC") filings, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, are made available free of charge on the Company's website on the same day they are filed with the SEC. To view these filings, visit the Investor Relations section of the Company's website.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally can be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "outlook," "target," "continue," "predict," "project," "change," "result," "future," "will," "could," "can," "may," "likely," "potentially," or similar expressions. Forward-looking statements are all statements other than those of historical fact and include, but are not limited to, statements about future financial and operating results, our plans, objectives, business outlook, priorities, expectations and intentions, expectations for sales and market growth, comparable sales, earnings and performance, stockholder value, effective tax rates, capital expenditures, cash flows, the housing market, the home improvement industry, demand for services, share repurchases, our strategic initiatives, including the impact of these initiatives on our strategic and operational plans and financial results, and any statement of an assumption underlying any of the foregoing. Forward looking statements in this press release include, but are not limited to, statements regarding: anticipated consolidated operating margin for 2026; expected gain on the sale of vacant land; estimated effective tax rate for 2026; and projected capital expenditures for 2026.Forward-looking statements are subject to inherent uncertainties, risks and other factors that are difficult to predict and could cause our actual results to vary in material respects from what we have expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those expressed in or implied by our forward-looking statements include the effect of tariffs and international trade policies on our business operations, the effects of inflation and labor and supply shortages on our operations and the operations of our customers, suppliers and business partners, volatile supply and demand conditions affecting prices and volumes in the markets for both our products and raw materials we purchase; and those discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other reports we file with the SEC. Additional risks include: the cyclicality and impact of general economic conditions; changing conditions in global markets including the impact of sanctions and tariffs, quotas and other trade actions and import restrictions; the impact of pandemics, epidemics or other public health emergencies; the impact of foreign currency fluctuations; potential limitations on our ability to access capital resources and borrowings under our existing credit agreement; restrictions on our business and financial covenants under our credit agreement; reliance on employees subject to collective bargaining agreements; and or ability to repurchase shares of our common stock and the amounts and timing of repurchases, if any.We caution that you should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Readers are urged to carefully review and consider the various disclosures made in our reports filed with the SEC that advise of the risks and factors that may affect our business, results of operations and financial condition.Non-GAAP Financial MeasuresThis press release includes certain financial information not prepared in accordance with Generally Accepted Accounting Principles in the United States ("GAAP"). Since not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Further, these measures should not be considered substitutes for the performance measures derived in accordance with GAAP. The Company uses Adjusted EBITDA as an additional financial measure in evaluating the ongoing operating performance of its business. The Company believes Adjusted EBITDA allows it to readily view operating trends, perform analytical comparisons, and identify strategies to improve operating performance. Adjusted EBITDA should not be considered in isolation or as a substitute for GAAP financial measures such as net income or any other performance measures derived in accordance with GAAP. See the Reconciliation of Non-GAAP Financial Measures below.The Company defines Adjusted EBITDA as net income (loss), adjusted to exclude provision for income taxes, depreciation and amortization, acquisition integration and restructuring costs, non-qualified compensation adjustments, lease termination costs, severance costs, net loss or gain on disposal of assets, interest income or expense and other financing costs, and foreign exchange and other expense (income).Simpson Manufacturing Co., Inc. and SubsidiariesUNAUDITED Condensed Consolidated Statements of Operations(In thousands, except per share data)
Three Months Ended March 31,
2026
2025Net sales$ 587,964
$ 538,895Cost of sales322,073
288,329Gross profit265,891
250,566Research and development and engineering expense18,631
19,839Selling expense54,463
54,164General and administrative expense77,562
74,192Total operating expense150,656
148,195Acquisition and integration related costs565
127Net loss (gain) on disposal of assets53
(75)Income from operations114,617
102,319Interest income and other finance costs, net4,433
1,103Other & foreign exchange (loss) gain, net(2,752)
1,058Income before taxes116,298
104,480Provision for income taxes28,082
26,596Net income$ 88,216
$ 77,884Earnings per common share:
Basic$ 2.14
$ 1.86Diluted$ 2.13
$ 1.85Weighted average shares outstanding:
Basic41,228
41,846Diluted41,366
42,010Cash dividends declared per common share$ 0.29
$ 0.28Other data:
Depreciation and amortization$ 25,511
$ 19,522Pre-tax equity-based compensation expense$ 6,539
$ 6,538 Simpson Manufacturing Co., Inc. and SubsidiariesUNAUDITED Condensed Consolidated Balance Sheets(In thousands)
March 31,
December 31,
2026
2025
2025Cash and cash equivalents
$ 341,005
$ 150,290
$ 384,138Trade accounts receivable, net
400,082
373,198
302,688Inventories
548,978
618,784
594,192Other current assets
65,424
61,973
71,485Total current assets
1,355,489
1,204,245
1,352,503Property, plant and equipment, net
621,137
568,503
627,854Operating lease right-of-use assets
112,033
101,701
115,060Goodwill
548,283
527,621
558,521Intangible assets, net
373,468
381,079
387,729Other noncurrent assets
32,997
39,807
31,959Total assets
$ 3,043,407
$ 2,822,956
$ 3,073,626
Trade accounts payable
$ 105,743
$ 118,019
$ 91,467Long-term debt, current portion
15,000
22,500
15,000Accrued liabilities and other current liabilities
277,787
239,511
275,328Total current liabilities
398,530
380,030
381,795Operating lease liabilities, net of current portion
92,951
82,913
96,819Long-term debt, net of current portion and issuance costs
351,949
357,278
355,509Deferred income tax
104,233
90,346
99,792Other long-term liabilities
30,710
41,871
104,234Non-qualified deferred compensation plan awards
6,302
8,804
5,715Stockholders' equity
2,058,732
1,861,714
2,029,762Total liabilities, mezzanine equity, and stockholders' equity
$ 3,043,407
$ 2,822,956
$ 3,073,626 Simpson Manufacturing Co., Inc. and SubsidiariesUNAUDITED Segment and Product Group Information (In thousands)
Three Months Ended
March 31,
%
2026
2025
change*Net Sales by Reporting Segment
North America$ 461,925
$ 420,699
9.8 %
Percentage of total net sales78.6 %
78.1 %
Europe121,047
113,860
6.3 %
Percentage of total net sales20.6 %
21.1 %
Asia/Pacific4,992
4,336
15.1 %
$ 587,964
$ 538,895
9.1 %Net Sales by Product Group**
Wood Construction$ 497,664
$ 459,442
8.3 %
Percentage of total net sales84.6 %
85.3 %
Concrete Construction89,127
77,683
14.7 %
Percentage of total net sales15.2 %
14.4 %
Other1,173
1,770
N/M
$ 587,964
$ 538,895
9.1 %Gross Profit (Loss) by Reporting Segment
North America$ 220,733
$ 209,428
5.4 %
North America gross margin47.8 %
49.8 %
Europe43,946
40,022
9.8 %
Europe gross margin36.3 %
35.2 %
Asia/Pacific1,796
1,725
N/M
Administrative and all other(584)
(609)
N/M
$ 265,891
$ 250,566
6.1 %Income (Loss) from Operations
North America$ 118,310
$ 104,848
12.8 %
North America operating margin25.6 %
24.9 %
Europe7,091
9,309
(23.8) %
Europe operating margin5.9 %
8.2 %
Asia/Pacific243
358
N/M
Administrative and all other(11,027)
(12,196)
N/M
$ 114,617
$ 102,319
12.0 %*Unfavorable percentage changes are presented in parentheses, if any.**The Company manages its business by geographic segment but presents sales by product group as additional information.N/MStatistic is not material or not meaningful. Simpson Manufacturing Co., Inc. and SubsidiariesReconciliation of Non-GAAP Financial Measures(In thousands) (Unaudited) A reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP measure, is set forth below:
Three Months Ended March 31,
2026
2025Net Income$ 88,216
$ 77,884Provision for income taxes28,082
26,596Interest income, net and other financing costs(4,433)
(1,103)Depreciation and amortization25,511
19,522Other*1,985
(725)Adjusted EBITDA**$ 139,361
$ 122,174
*Includes acquisition integration and restructuring related expenses, non-qualified deferred compensation adjustments, severance costs, other & foreign exchange loss net, and net loss or gain on disposal of assets.**Includes certain reclassifications in the three months ended March 31, 2025, to conform to the current period presentation.CONTACT:
Addo Investor Relations
investor.relations @TC-66
View original content to download multimedia:https://www.prnewswire.com/news-releases/simpson-manufacturing-co-inc-announces-2026-first-quarter-financial-results-and-reaffirms-2026-guidance-302753468.htmlSOURCE Simpson Manufacturing Co., Inc.
Original: Simpson Manufacturing Co., Inc. Announces 2026 First Quarter Financial Results and Reaffirms 2026 Guidance
US Market News
4月前
SIMPSON MANUFACTURING CO., INC. ANNOUNCES 2025 FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS; PROVIDES 2026 OUTLOOKFebruary 9, 2026 4:15 PM
PR Newswire (US)
2025 Fourth Quarter HighlightsNet sales of $539.3 million increased 4.2% year-over-yearNet income per diluted share of $1.35Declared a quarterly dividend of $0.29 per share2025 Full Year HighlightsNet sales of $2.3 billion increased 4.5% year-over-yearIncome from operations of $458.1 million, resulting in an operating income margin of 19.6%Net income per diluted share of $8.24Repurchased $120.0 million in common stock, including $30.0 million during the fourth quarterPLEASANTON, Calif., Feb. 9, 2026 /PRNewswire/ -- Simpson Manufacturing Co., Inc. (the "Company") (NYSE: SSD), an industry leader in engineered structural connectors and building solutions, today announced its financial results for the fourth quarter and full year of 2025. All comparisons below (which are generally indicated by words such as "increased," "decreased," "remained," or "compared to"), unless otherwise noted, are comparing the quarter ended December 31, 2025 with the quarter ended December 31, 2024 or the fiscal year ended December 31, 2025 with the fiscal year ended December 31, 2024.Consolidated 2025 Highlights
Three Months Ended,
Quarter-Over-
Twelve Months Ended,
Year-Over-
December 31,
Quarter
December 31,
Year
2025
2024
Change
2025
2024
Change
(In thousands, except per share data and percentages)
(In thousands, except per share data and percentages)Net sales$ 539,345
$ 517,429
4.2 %
$ 2,332,808
$ 2,232,139
4.5 %Gross profit235,073
227,236
3.4 %
1,069,605
1,023,888
4.5 %Gross profit margin43.6 %
43.9 %
45.9 %
45.9 %
Total operating expenses161,839
149,552
8.2 %
626,977
588,547
6.5 %Income from operations74,759
76,849
(2.7) %
458,065
429,975
6.5 %Operating income margin13.9 %
14.9 %
19.6 %
19.3 %
Net income$ 56,214
$ 55,458
1.4 %
$ 345,083
$ 322,224
7.1 %Net income per diluted common
share$ 1.35
$ 1.31
3.1 %
$ 8.24
$ 7.60
8.4 %Adjusted EBITDA1$ 104,701
$ 105,705
(0.9) %
$ 544,279
$ 526,803
3.3 %
Total U.S. Housing starts - December 31, 2025 data not available2
1Adjusted EBITDA is a non-GAAP financial measure and it is defined in the Non-GAAP Financial Measures section of the press release. For a reconciliation of Adjusted EBITDA to U.S. GAAP ("GAAP") net income see the schedule titled "Reconciliation of Non-GAAP Financial Measures."2The housing starts data was unavailable at the time of the press release. Based on the United States Census Bureau's release calendar, we expect the next update on national housing market data to be issued around February 18, 2026.Management Commentary"In 2025, we executed with discipline across our business, and I am proud of what our teams accomplished," said Mike Olosky, President and Chief Executive Officer of Simpson Manufacturing Co., Inc. "We delivered 4.5% revenue growth in a challenging housing market and achieved a solid 19.6% operating margin, reflecting the strength of our business model and effective cost management. Top-line growth in 2025 included approximately 3% from our pricing actions, 1% from acquisitions, and 1% from foreign exchange, which was partially offset by a 1% decline in volume. Importantly, we achieved a Total Recordable Incident Rate below 1.0 for the second consecutive year, our best safety performance in company history. Our commitment to safety demonstrates the values that define Simpson, above all, "everybody matters."Mr. Olosky continued, "Our results this year demonstrate the resilience of our portfolio and the effectiveness of our long-term strategy. We continued to innovate, expanded our digital capabilities, brought new manufacturing capabilities online, expanded our warehouse footprint, and strengthened customer relationships across our key end markets. As we look ahead, we remain focused on our ambitions to grow above the market, achieve an operating margin of at least 20%, and drive earnings per share growth ahead of net sales growth. This focus is supported by strong operational execution and a balanced approach to capital allocation, positioning us well for continued success in 2026 and beyond as we deepen our commitment to being the partner of choice for our customers."North America Segment Financial Highlights 2025 Fourth QuarterNet sales of $416.9 million increased 3.0% from $404.8 million due to the increases in pricing, partly offset by lower volumes.Gross margin decreased to 46.2% from 46.9% due to tariffs on certain imported fastener and anchor products, as well as higher factory and overhead and labor costs, partly offset by lower warehouse costs, as a percentage of net sales.Income from operations of $82.3 million decreased 3.6% from $85.4 million. The decrease was primarily driven by higher operating expenses resulting from the timing of increased charitable donations, as well as increases in variable incentive compensation, and personnel costs, including severance related costs. 2025 Full YearNet sales of $1.8 billion increased 4.5% from 2024 due to increases in pricing, and higher incremental sales related to the Company's 2024 acquisitions, partly offset by lower volumes.Gross margin decreased to 48.8% from 48.9%, due to higher factory and overhead, labor costs, partly offset by lower warehouse costs, as a percentage of net sales. Tariffs on certain imported fastener and anchor products also had a negative impact on gross margin.Income from operations of $448.8 million increased 2.1% from $439.6 million. The increase was primarily due to higher gross profit, partly offset by higher operating expenses. The increase in operating expenses was driven by higher personnel costs including severance related costs, variable incentive compensation, IT application costs. as well as the timing of higher charitable donations,Europe Segment Financial Highlights 2025 Fourth QuarterNet sales of $117.9 million increased 9.1% from $108.1 million, primarily due to the positive effect of approximately $9.1 million in foreign currency translation and a modest improvement in sales volumes and pricing.Gross margin increased to 33.6% from 32.3%, primarily due to lower material and freight costs, partly offset by higher factory and overhead, warehouse and labor costs, as a percentage of net sales. Gross profit was negatively impacted by footprint optimization and severance costs.Income from operations of $2.8 million increased 259.6% from $0.8 million, mostly due to higher gross profit, partly offset by increases in operating expenses driven primarily by the negative effect of approximately $2.9 million in foreign currency translation. 2025 Full YearNet sales of $499.6 million increased 4.3% from $479.1 million, primarily due to the positive effect of approximately $20.4 million in foreign currency translation.Gross margin increased to 35.8% from 35.3%, primarily due to lower material and freight costs, partly offset by higher factory and overhead, warehouse and labor costs, as a percentage of net sales. Gross profit was negatively impacted by footprint optimization and severance costs.Income from operations of $43.9 million increased 29.7% from $33.8 million mostly due to higher gross profit, partly offset by increases in operating expenses driven primarily by the negative effect of approximately $5.3 million in foreign currency translation.Refer to the "Segment and Product Group Information" table below for additional segment information (including information about the Company's Asia/Pacific and Administrative and All Other segments).Corporate DevelopmentsOn January 28, 2026, the Board declared a quarterly cash dividend of $0.29 per share, estimated to be $12.0 million in aggregate. The dividend will be payable on April 23, 2026, to the Company's stockholders of record on April 2, 2026.On December 16, 2025, the Company entered into an Amended and Restated Credit Agreement. The Amended and Restated Credit Agreement amends and restates the Company's previous Credit Agreement, dated as of July 27, 2012. The Amended and Restated Credit Agreement provides for a 5-year Revolving Credit Facility of $600.0 million, which includes a letter of credit sub-facility of up to $50.0 million, and for a 5-year Term Loan Facility of $300.0 million. As of December 31, 2025, the Company had $74.2 million outstanding under the Revolving Credit Facility and $300.0 million under the Term Loan Facility for ongoing working capital and general business needs.During the fourth quarter, the Company repurchased 177,845 shares of the Company's common stock in the open market at an average price of $168.68 per share, for a total of $30.0 million, completing the repurchase of $120.0 million of the Company's common stock that was previously authorized for fiscal 2025.The Company is authorized by the Board to repurchase up to $150.0 million of the Company's common stock beginning January 1, 2026 through December 31, 2026. Balance Sheet & Cash Flow HighlightsAs of December 31, 2025, cash and cash equivalents totaled $384.1 million with total debt outstanding of $374.2 million under the Company's $900.0 million credit facility.For the 2025 fourth quarter, cash provided by operating activities of approximately $155.6 million increased from $115.8 million, primarily due to decreases in working capital. For the 2025 full year, cash provided by operating activities of $458.6 million increased from $338.2 million, primarily due to decreases in working capital and higher net income.For the 2025 fourth quarter, cash used in investing activities of approximately $30.2 million decreased from $57.1 million mostly due to decreased capital expenditures of $18.3 million and increased proceeds from the sale of assets of $7.4 million. For the 2025 full year, cash used in investing activities of $136.7 million decreased from $259.3 million mostly due to decreased acquisitions of $77.1 million.For the 2025 fourth quarter, cash used in financing activities of $42.9 million decreased from $150.4 million. For the 2025 full year, cash used in financing activities of $186.1 million decreased from $261.5 million, primarily as a result of debt refinancing activity.Business OutlookThe Company is initiating its 2026 financial outlook to reflect its expectations regarding demand trends, cost of sales, and operating expenses. Based on business trends and conditions as of today, February 9, 2026, the Company's outlook for the full fiscal year ending December 31, 2026 is as follows:Consolidated operating margin is estimated to be in the range of 19.5% to 20.5%. The operating margin range includes a projected gain of $10.0 million to $12.0 million on the sale of vacant land.The effective tax rate is estimated to be in the range of 25.0% to 26.0%, including both federal and state income tax rates as well as international income tax rates, and assuming no tax law changes are enacted.Capital expenditures are estimated to be in the range of $75.0 million to $85.0 million.Conference Call DetailsInvestors, analysts and other interested parties are invited to join the Company's fourth quarter and full year 2025 financial results conference call on Monday, February 9, 2026, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). To participate, callers may dial (877) 407-0792 (U.S. and Canada) or (201) 689-8263 (International) approximately 10 minutes prior to the start time. The call will be webcast simultaneously and can be accessed through https://viavid.webcasts.com/starthere.jsp?ei=1748976&tp_key=941acbc869 or a link on the Investor Relations section of the Company's website at https://ir.simpsonmfg.com/events-and-presentations. For those unable to participate during the live broadcast, a replay of the call will also be available beginning that same day at 8:00 p.m. Eastern Time until 11:59 p.m. Eastern Time on Monday, February 23, 2026, by dialing (844) 512–2921 (U.S. and Canada) or (412) 317–6671 (International) and entering the conference ID: 13758070. The webcast will remain posted on the Investor Relations section of the Company's website for 90 days.A copy of this earnings release will be available prior to the call, accessible through the Investor Relations section of the Company's website at www.simpsonmfg.com.About Simpson Manufacturing Co., Inc.Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing carbon and glass fiber materials. The Company primarily supplies its building product solutions to both the residential and commercial markets in North America and Europe. The Company's common stock trades on the New York Stock Exchange under the symbol "SSD."Copies of Simpson Manufacturing's Annual Report to Stockholders and its proxy statements and other SEC filings, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, are made available free of charge on the Company's website on the same day they are filed with the SEC. To view these filings, visit the Investor Relations section of the Company's website.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally can be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "outlook," "target," "continue," "predict," "project," "change," "result," "future," "will," "could," "can," "may," "likely," "potentially," or similar expressions. Forward-looking statements are all statements other than those of historical fact and include, but are not limited to, statements about future financial and operating results, our plans, objectives, business outlook, priorities, expectations and intentions, expectations for sales and market growth, comparable sales, earnings and performance, stockholder value, effective tax rates, capital expenditures, cash flows, the housing market, the home improvement industry, demand for services, share repurchases, our strategic initiatives, including the impact of these initiatives on our strategic and operational plans and financial results, and any statement of an assumption underlying any of the foregoing. Forward looking statements in this press release include, but are not limited to, statements regarding: anticipated consolidated operating margin for 2026; expected gain on the sale of undeveloped land; estimated effective tax rate for 2026; and projected capital expenditures for 2026. Forward-looking statements are subject to inherent uncertainties, risks and other factors that are difficult to predict and could cause our actual results to vary in material respects from what we have expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those expressed in or implied by our forward-looking statements include the effect of tariffs and international trade policies on our business operations, the effects of inflation and labor and supply shortages, on our operations, and the operations of our customers, suppliers and business partners, the effect of a global pandemic such as the COVID-19 pandemic or other widespread public health crisis and their effects on the global economy, as well as those discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other reports we file with the SEC.We caution that you should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Readers are urged to carefully review and consider the various disclosures made in our reports filed with the SEC that advise of the risks and factors that may affect our business, results of operations and financial condition.Non-GAAP Financial MeasuresThis press release includes certain financial information not prepared in accordance with Generally Accepted Accounting Principles in the United States ("GAAP"). Since not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Further, these measures should not be considered substitutes for the performance measures derived in accordance with GAAP. The Company uses Adjusted EBITDA as an additional financial measure in evaluating the ongoing operating performance of its business. The Company believes Adjusted EBITDA allows it to readily view operating trends, perform analytical comparisons, and identify strategies to improve operating performance. Adjusted EBITDA should not be considered in isolation or as a substitute for GAAP financial measures such as net income or any other performance measures derived in accordance with GAAP. See the Reconciliation of Non-GAAP Financial Measures below.The Company defines Adjusted EBITDA as net income (loss) before income taxes, adjusted to exclude depreciation and amortization, integration, acquisition and restructuring costs, non-qualified compensation adjustments, goodwill impairment, gain on bargain purchase, lease termination costs, severance costs, net loss or gain on disposal of assets, interest income or expense, and foreign exchange and other expense (income). Simpson Manufacturing Co., Inc. and Subsidiaries
UNAUDITED Consolidated Statements of Operations
(In thousands, except per share data)
Three Months Ended
December 31,
Twelve Months Ended
December 31,
2025
2024
2025
2024Net sales$ 539,345
$ 517,429
$ 2,332,808
$ 2,232,139Cost of sales304,272
290,193
1,263,203
1,208,251Gross profit235,073
227,236
1,069,605
1,023,888Research and development and engineering expense21,084
22,157
82,483
81,916Selling expense56,078
52,777
222,808
213,532General and administrative expense84,677
74,618
321,686
293,099Total operating expenses161,839
149,552
626,977
588,547Acquisition and integration related costs616
821
1,065
5,813Net (gain) loss on disposal of assets(2,141)
14
(16,502)
(447)Income from operations74,759
76,849
458,065
429,975Interest income and other finance costs, net4,022
1,166
8,337
5,277Other & foreign exchange loss, net(4,080)
(1,560)
(3,929)
(1,209)Income before taxes74,701
76,455
462,473
434,043Provision for income taxes18,487
20,997
117,390
111,819Net income$ 56,214
$ 55,458
$ 345,083
$ 322,224Earnings per common share:
Basic$ 1.36
$ 1.32
$ 8.27
$ 7.64Diluted$ 1.35
$ 1.31
$ 8.24
$ 7.60Weighted average shares outstanding:
Basic41,345
41,980
41,718
42,182Diluted41,509
42,174
41,861
42,383Other data:
Depreciation and amortization$ 24,961
$ 24,749
$ 88,477
$ 84,584Pre-tax equity-based compensation expense3,486
3,257
22,220
18,346 Simpson Manufacturing Co., Inc. and SubsidiariesUNAUDITED Consolidated Condensed Balance Sheets(In thousands)
December 31,
2025
2024
Cash and cash equivalents
$ 384,138
$ 239,371
Trade accounts receivable, net
302,688
284,392
Inventories
594,192
593,175
Other current assets
71,485
59,383
Total current assets
1,352,503
1,176,321
Property, plant and equipment, net
627,854
531,655
Operating lease right-of-use assets
115,060
93,933
Goodwill
558,521
512,383
Intangible assets, net
387,729
375,051
Other noncurrent assets
31,959
46,825
Total assets
$ 3,073,626
$ 2,736,168
Trade accounts payable
$ 91,467
$ 100,972
Long-term debt, current portion
15,000
22,500
Accrued liabilities and other current liabilities
275,328
242,876
Total current liabilities
381,795
366,348
Operating lease liabilities, net of current portion
96,819
76,184
Long-term debt, net of current portion and issuance costs
355,509
362,563
Deferred income tax
99,792
90,303
Other long-term liabilities
104,234
27,636
Non-qualified deferred compensation plan share awards
5,715
7,786
Stockholders' equity
2,029,762
1,805,348
Total liabilities and stockholders' equity
$ 3,073,626
$ 2,736,168
Simpson Manufacturing Co., Inc. and SubsidiariesUNAUDITED Segment and Product Group Information(In thousands)
Three Months Ended
Twelve Months Ended
December 31,
%
December 31,
%
2025
2024
change *
2025
2024
change *Net Sales by Reporting Segment
North America$ 416,863
$ 404,753
3.0 %
$ 1,813,856
$ 1,735,879
4.5 %
Percentage of total net sales77.3 %
78.2 %
77.8 %
77.8 %
Europe117,871
108,070
9.1 %
499,559
479,055
4.3 %
Percentage of total net sales21.9 %
20.9 %
21.4 %
21.5 %
Asia/Pacific4,611
4,606
0.1 %
19,393
17,205
12.7 %
Percentage of total net sales0.9 %
0.9 %
0.8 %
0.8 %
Total$ 539,345
$ 517,429
4.2 %
$ 2,332,808
$ 2,232,139
4.5 %Net Sales by Product Group**
Wood Construction$ 447,458
$ 438,111
2.1 %
$ 1,967,741
$ 1,899,524
3.6 %
Percentage of total net sales83.0 %
84.7 %
84.4 %
85.1 %
Concrete Construction90,728
78,665
15.3 %
360,613
330,557
9.1 %
Percentage of total net sales16.8 %
15.2 %
15.5 %
14.8 %
Other1,159
653
N/M
4,454
2,058
N/M
Total$ 539,345
$ 517,429
4.2 %
$ 2,332,808
$ 2,232,139
4.5 %Gross Profit (Loss) by Reporting Segment
North America$ 192,721
$ 189,749
1.6 %
$ 885,028
$ 848,541
4.3 %
North America gross profit margin46.2 %
46.9 %
48.8 %
48.9 %
Europe39,622
34,894
13.5 %
178,933
168,982
5.9 %
Europe gross profit margin33.6 %
32.3 %
35.8 %
35.3 %
Asia/Pacific1,112
2,017
N/M
6,449
5,798
N/M
Administrative and all other1,618
576
N/M
(805)
567
N/M
Total$ 235,073
$ 227,236
3.4 %
$ 1,069,605
$ 1,023,888
4.5 %Income (Loss) from Operations
North America$ 82,291
$ 85,354
(3.6) %
$ 448,807
$ 439,567
2.1 %
North America operating profit margin19.7 %
21.1 %
24.7 %
25.3 %
Europe2,765
769
259.6 %
43,862
33,806
29.7 %
Europe operating profit margin2.3 %
0.7 %
8.8 %
7.1 %
Asia/Pacific(233)
323
N/M
595
(294)
N/M
Administrative and all other(10,064)
(9,597)
N/M
(35,199)
(43,104)
N/M
Total$ 74,759
$ 76,849
(2.7) %
$ 458,065
$ 429,975
6.5 %
*Unfavorable percentage changes are presented in parentheses.
**The Company manages its business by geographic segment but is presenting sales by product group as additional information.
N/MStatistic is not material or not meaningful. Reconciliation of Non-GAAP Financial Measures(In thousands) (Unaudited)A reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP measure, is set forth below.
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024Net Income$ 56,214
$ 55,458
$ 345,083
$ 322,224
Provision for income taxes18,487
20,997
117,390
111,819Interest income, net and other financing costs(4,022)
(1,166)
(8,337)
(5,277)Depreciation and amortization24,961
24,749
88,477
84,584Other*9,061
5,667
1,666
13,453Adjusted EBITDA$ 104,701
$ 105,705
$ 544,279
$ 526,803
*Other: Includes acquisition, integration, and restructuring related expenses, non-qualified deferred compensation adjustments, lease termination, severance
costs, other & foreign exchange loss net, and net loss or gain on disposal of assets.CONTACT:
Addo Investor Relations
investor.relations @TC-66
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Original: SIMPSON MANUFACTURING CO., INC. ANNOUNCES 2025 FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS; PROVIDES 2026 OUTLOOK