SSD - Simpson Manufacturing GAAP EPS of $2.43 beats by $0.29 revenue of $580.1M beats by $23.48M

2023-10-23 16:28:15 ET

• Simpson Manufacturing press release ( NYSE: SSD ): Q3 GAAP EPS of $2.43 beats by $0.29 .
• Revenue of $580.1M (+4.8% Y/Y) beats by $23.48M .

• Business Outlook

  The Company has updated its 2023 financial outlook based on three 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, October 23, 2023, the Company's outlook for the full fiscal year ending December 31, 2023 is as follows:

  • Operating margin is now estimated to be in the range of 22.0% to 22.5%.
  • 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 approximately $100.0 million depending on a number of various external factors.
  • The Company continues to make progress on its efforts to integrate ETANCO into its operations and to realize previously identified offensive and defensive synergies in the years ahead. However, the Company expects these efforts will result in ongoing integration costs through 2023 and beyond.

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