Simpson Manufacturing (SSD) Tops Q4 EPS by 32c

Simpson Manufacturing (NYSE: SSD) reported Q4 EPS of $1.35, $0.32 better than the analyst estimate of $1.03. Revenue for the quarter came in at $475.6 million versus the consensus estimate of $475.25 million.

Business Outlook:

Based on business trends and conditions as of today, February 6, 2023, the Company's outlook for the full fiscal year ending December 31, 2023 is as follows:

Operating margin is estimated to be in the range of 18% to 20%.

Interest expense on the outstanding Revolving Credit Facility and Term Loans, which have borrowings of $150.0 million and $433.1 million as of December 31, 2022, respectively, is expected to be approximately $9.7 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 estimated to be in the range of 25% to 26%, including both federal and state income tax rates and assuming no tax law changes are enacted.

Capital expenditures are estimated to be in the range of $90.0 million to $95.0 million including the expected spend of $22.0 million to $25.0 million on its previously announced Columbus, Ohio facility expansion, with the balance of that project to be spent in 2024.

The Company continues to work on integrating ETANCO into its operations. Plans were developed to realize the Company's previously identified synergies in the years ahead which resulted in additional costs in 2022 that are expected to continue in 2023. The Company remains well positioned to capture meaningful benefits from the synergies, subject to changing macroeconomic circumstances, which will delay some of the synergy opportunities.

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

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