Simpson Manufacturing (NYSE: SSD) reported Q2 EPS of $2.31, $0.17 worse than the analyst estimate of $2.48. Revenue for the quarter came in at $597 million versus the consensus estimate of $607.93 million.

Business Outlook

The Company has updated its 2024 financial outlook based on two quarters of financial information to reflect its latest expectations regarding demand trends, raw material costs and operating expenses. Based on business trends and conditions as of today, July 22, 2024, the Company\'s outlook for the full fiscal year ending December 31, 2024 is as follows:

Operating margin is estimated to be in the range of 20.0% to 21.0%.
The effective tax rate is estimated to be in the range of 24.5% to 25.5%, 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 $180.0 million to $190.0 million, which includes $90.0 million to $100.0 million for the Columbus, Ohio facility expansion and the new Gallatin,Tennessee fastener facility construction with the remaining spend carrying over into 2025.

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