Simpson Manufacturing (SSD) Tops Q3 EPS by 52c

Simpson Manufacturing (NYSE: SSD) reported Q3 EPS of $2.06, $0.52 better than the analyst estimate of $1.54. Revenue for the quarter came in at $553.7 million versus the consensus estimate of $529.94 million.

Business Outlook:

The Company has updated its 2022 financial outlook based on three quarters of financial information, which includes the acquisition of ETANCO, to reflect its latest expectations regarding demand trends, raw material costs and operating expenses. Based on business trends and conditions as of today, October 24, 2022, the Company's outlook for the full fiscal year ending December 31, 2022 is as follows:

• Operating margin is expected to be in the range of 20.0% to 21.0%, in-line with its more recent historical average as the Company has better visibility on raw material costs and expected results from its acquisition of ETANCO. The revised outlook includes $16.0 to $18.0 million in expected integration and transaction costs for the acquisition.
• Interest expense on the outstanding $250.0 million Revolving Credit Facility and Term Loans, which had initial borrowings of $450.0 million, is expected to be approximately $9.8 million, including the benefit from interest rate and cross currency swaps mitigating substantially all of the volatility from changes in interest rates.
• The effective tax rate is expected to be in the range of 25.0% to 26.0%.
• Capital expenditures are expected to be in the range of $55.0 million to $65.0 million.

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

You May Also Be Interested In

• Ennis (EBF) Reports In-Line Q1 EPS
• SanDisk and Micron surge as Apple confirms memory price pass-through
• Incyte settles CMS lawsuit over Opzelura Medicaid rebate rules