Welcome to our dedicated page for Simpson Manufacturing Co. news (Ticker: SSD), a resource for investors and traders seeking the latest updates and insights on Simpson Manufacturing Co. stock.
Simpson Manufacturing Co., Inc. (NYSE: SSD), headquartered in Pleasanton, California, stands as a global leader in the design, engineering, manufacturing, and sale of building construction products for wood and concrete structures. Through its subsidiaries, including Simpson Strong-Tie Company Inc., the company offers an extensive range of products that are crucial to the residential, light industrial, and commercial construction markets.
For wood construction, Simpson Manufacturing provides products such as connectors, truss plates, fastening systems, fasteners, shear walls, and prefabricated lateral systems. These products are primarily used in light-frame construction, offering stability and strength in building structures. In addition, the company caters to the concrete construction sector with products including adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder-actuated tools, and fiber-reinforced materials. These items are pivotal for construction repair, protection, and strengthening applications.
Simpson Manufacturing is committed to innovation and quality, continuously enhancing its product offerings to meet evolving market needs. The company's operations span three primary regions: North America, Europe, and Asia Pacific, with North America being the largest contributor to its revenue.
Recent financial highlights indicate solid performance despite challenging market conditions. For the third quarter of 2023, the company reported net sales of $580.1 million, a 4.8% increase from the same period in the previous year. This growth was driven by improved volumes in the North American segment and double-digit volume growth in commercial, national retail, and building technology markets. However, the company anticipates some downward pressure on results in the fourth quarter of 2023 due to market conditions and typical seasonality.
In corporate developments, Simpson Manufacturing continues to focus on strategic investments and growth initiatives, such as expanding its digital offerings and enhancing customer experience. The recent appointment of Udit Mehta as Chief Technology Officer in May 2024 underscores the company’s commitment to advancing its technological infrastructure and driving innovation.
Simpson Manufacturing also emphasizes its social and environmental responsibilities. The company’s Fiscal 2023 Corporate Social Responsibility Report highlights its ongoing commitment to sustainable business practices and social responsibility, reflecting its dedication to positive impacts on society and the environment.
As Simpson Manufacturing looks to the future, it remains focused on leveraging its strong market position, innovative product offerings, and strategic investments to drive long-term growth and enhance shareholder value.
Simpson Manufacturing (NYSE: SSD) announced its participation in the Baird 2024 Global Industrial Conference on November 14, 2024, at The Ritz-Carlton in Chicago. The company's executives, including President and CEO Mike Olosky, CFO Brian Magstadt, and SVP of Finance Matt Dunn, will present at 10:15 a.m. CT and meet with investors throughout the day. The presentation will be webcast live on the company's Investor Relations website, with a replay available for 90 days after the event.
Simpson Manufacturing (NYSE: SSD) has appointed Matt Dunn as Chief Financial Officer and Treasurer, effective January 1, 2025. Dunn, currently serving as Senior Vice President of Finance since June 2024, will succeed Brian Magstadt, who will remain as Executive Advisor until his retirement on June 30, 2025. Dunn brings over 23 years of financial management experience, previously serving as Senior VP of Finance at Helen of Troy and holding leadership positions at Inventure Group, Procter & Gamble, and Kimberly-Clark. In his new role, Dunn will oversee financial operations, risk management, capital allocation, and M&A activities.
Simpson Manufacturing (NYSE: SSD) announced that its Board of Directors has declared a quarterly dividend of $0.28 per share on the company's common stock. The dividend will be paid on January 23, 2025, to stockholders of record as of January 2, 2025. Simpson Manufacturing is an industry leader in engineered structural connectors and building solutions.
Simpson Manufacturing Co. (NYSE: SSD) reported its Q3 2024 financial results, showing a 1.2% increase in net sales to $587.2 million. However, the company experienced a decline in profitability, with income from operations decreasing by 11.0% to $124.9 million and net income per diluted share falling 9.1% to $2.21. The company's gross profit margin decreased to 46.8% from 48.8% in the previous year.
Despite challenges in the housing markets, Simpson's North America segment saw a 1.0% increase in net sales, while the Europe segment reported a 1.8% rise. The company completed two acquisitions during the quarter: Monet DeSauw Inc. and QuickFrames USA. Simpson has revised its full-year 2024 outlook based on reduced housing start expectations, projecting an operating margin range of 19.0% to 19.5%.
Simpson Manufacturing Co., Inc. (NYSE: SSD) has announced it will report its financial results for the third quarter ended September 30, 2024, on Monday, October 21, 2024, at 4:15 p.m. Eastern Time. A conference call will follow at 5:00 p.m. Eastern Time, hosted by Michael Olosky, President and CEO, and Brian Magstadt, CFO and Treasurer.
The call will be broadcast live over the Internet on the company's Investor Relations website. For those unable to participate live, a replay will be available until November 4, 2024. The company, an industry leader in engineered structural connectors and building solutions, will discuss its Q3 2024 financial performance during the call.
Simpson Manufacturing Co., Inc. (NYSE: SSD), a leader in engineered structural connectors and building solutions, has announced its participation in D.A. Davidson's 23rd Annual Diversified Industrials & Services Conference on September 19, 2024. The company's President and CEO, Mike Olosky, along with management, will present at 3:30 p.m. CT and engage in investor meetings throughout the day.
The presentation will be webcast live on the Investor Relations section of Simpson's website at ir.simpsonmfg.com. A replay will be available for 90 days following the event, providing extended access for interested parties unable to attend the live presentation.
Simpson Manufacturing Co. (NYSE: SSD) is set to celebrate its 30th anniversary as a publicly traded company by ringing the closing bell at the New York Stock Exchange on September 6, 2024. CEO Mike Olosky will lead the ceremony, which will be live-streamed at 3:55 p.m. ET on NYSE.com/bell.
Since its IPO in 1994, Simpson has grown from $150 million in annual sales to over $2 billion, becoming a world leader in engineered structural connectors and building solutions. The company's stock has shown impressive performance, with shares closing at $183.06 on August 30, 2024, up from the split-adjusted IPO price of $2.875. This growth, combined with quarterly dividends, has resulted in a total compound annual growth rate of approximately 14.7%.
Simpson Manufacturing Co., Inc. (NYSE: SSD), a leader in engineered structural connectors and building solutions, has announced its participation in the 2024 Jefferies Industrials Conference on September 4, 2024. President and CEO Mike Olosky, along with Simpson management, will present at 3:05 p.m. ET and engage in investor meetings throughout the day.
The presentation will be webcast live on the company's Investor Relations website at ir.simpsonmfg.com. For those unable to attend, a replay will be available on the website for 90 days following the event. This conference participation provides an opportunity for Simpson Manufacturing to showcase its business and engage with investors in the industrial sector.
Simpson Manufacturing Co. (NYSE: SSD) announced that Chief Financial Officer and Treasurer Brian Magstadt will retire on December 31, 2024. Magstadt, who joined Simpson in 2004 and has served as CFO since 2012, played a important role in the company's growth and improved profitability. Simpson has initiated a comprehensive search for a new CFO, considering both internal and external candidates.
President and CEO Mike Olosky praised Magstadt's 20-year tenure, highlighting his leadership during a period of significant transformation and his contributions to Simpson's values-based culture. The company emphasized its commitment to further strengthening its team and maintaining its position as the partner of choice for key stakeholders.
Simpson Manufacturing Co., Inc. (NYSE: SSD), a leader in engineered structural connectors and building solutions, has announced a regular quarterly dividend of $0.28 per share on its common stock. The dividend was declared by the company's Board of Directors on July 26, 2024, and will be payable on October 24, 2024, to stockholders of record as of October 3, 2024.
This announcement demonstrates Simpson Manufacturing's commitment to returning value to its shareholders through consistent dividend payments. The quarterly dividend reflects the company's financial stability and confidence in its ongoing business operations within the construction and building materials sector.
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