Simpson Manufacturing Co., Inc. Announces 2020 First Quarter Financial Results and Business Update In Response To COVID-19
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Simpson Manufacturing (SSD) Tops Q1 EPS by 21c, Revenues Beat; Withdraws FY20 Plan Targets & Financial Outlook
April 27, 2020 4:18 PM EDTSimpson Manufacturing (NYSE: SSD) reported Q1 EPS of $0.83, $0.21 better than the analyst estimate of $0.62. Revenue for the quarter came in at $283.7 million versus the consensus estimate of $274.81 million.
Net sales of $283.7 million increased 9.4% year-over-year on stronger sales volumesStrong gross margin of 45.7% improved 320 basis points year-over-yearOperating profit of $49.4 million increased 64.4% year-over-yearDiluted earnings per share of $0.83 increased 66.0% year-over-yearRepurchased $62.7 million of the Company's common stock during the quarterDeclared a $0.23 per share cash dividendWithdrawing 2020 Plan targets and financial outlook due to COVID-19Management Commentary
"We delivered a solid... More
