Simpson Manufacturing reports Q4 EPS $1.28, consensus $1.49

Reports Q4 revenue $501.7M, consensus $482.98M. “We achieved above market growth and strong profitability in 2023 with $2.2B in annual net sales, a 21.5% operating income margin and $8.26 of earnings per diluted share,” commented Mike Olosky, President and CEO. “Our topline performance was driven by continued share gains across all of our end markets and product lines. While our operating income margin came in below our October guidance primarily due to additional costs incurred in pursuit of our strategic growth opportunities, we believe our recent and future strategic investments will help us accelerate a compounded annual growth rate of sales volumes above market over the mid- to long-term. Our ambitions for this accelerated growth include us exceeding our historical average volume performance in North America of approximately 250 basis points above the housing starts market while also achieving top quartile profitability of our peer group.”