Simpson Manufacturing (NYSE: SSD) reported Q1 EPS of $0.54, $0.06 better than the analyst estimate of $0.48. Revenue for the quarter came in at $244.8 million versus the consensus estimate of $236.58 million.

• Consolidated net sales of $244.8 million increased 11% compared to $219.9 million.
  • North America net sales of $206.2 million increased 12% compared to $183.8 million, primarily due to increases in sales volume. Canada\'s net sales were positively affected by foreign currency translation.
  • Europe net sales of $36.3 million increased 6% compared to $34.4 million, primarily due to approximately $4.2 million of positive foreign currency translations resulting from Europe currencies strengthening against the United States dollar, as well as increases in average net sales unit prices. Net sales were partly offset by reduced sales volume due to the 2017 sale of Gbo Fastening Systems\' Poland and Romania subsidiaries (acquired January 2017), which contributed $3.0 million in net sales for the first quarter of 2017.
• Consolidated gross profit of $108.5 million increased 8% compared to $100.2 million. Gross profit margin decreased to 44.3% from 45.6% mostly due to increased material costs.
  • North America gross profit margin decreased to 47% from 48%.
  • Europe gross profit margin of 32% was in line with the first quarter of 2017.
• Consolidated income from operations of $32.8 million increased from $22.6 million, in spite of increased SAP related expenses of $3.0 million in the first quarter of 2018 compared to the first quarter of 2017, partly offset by $1.0 million gain due to the resolution of an eminent domain claim. Consolidated operating profit margin increased to 13% from 10%.
  • North America income from operations of $36.0 million increased 34% compared to $26.8 million.
  • Europe loss from operations of $1.6 million decreased from $1.8 million. Included in Europe\'s loss from operations were ERP–related costs of approximately $0.7 million compared to $0.1 million in the first quarter of 2017.
• Consolidated net income was $25.4 million, or $0.54 per diluted share of the Company\'s common stock, compared to net income of $23.1 million, or $0.48 per diluted share of the Company\'s common stock. The $23.1 million consolidated net income for the first quarter of 2017 included an $8.4 million gain on a bargain purchase of a business, which increased diluted earnings per share for that quarter by $0.18.
• Cash flow provided by operating activities increased approximately $23.8 million to $16.3 million compared to cash flow used in operating activities of $7.5 million.
• Cash flow used in investing activities decreased approximately $32.3 million to $9.7 million from $42.0 million. Capital expenditures were $10.9 compared to $15.8 million. Asset acquisitions, net of cash received, were zero compared to $26.3 million.

For earnings history and earnings-related data on Simpson Manufacturing (SSD) click here.