
Simpson Manufacturing Co., Inc. | |||
Announces 2026 Third Quarter Financial Results and Updates 2026 Guidance | |||
l | Net sales of $638.1 million increased 2.3% year-over-year |
l | Income from operations of $141.0 million increased 0.2% year-over-year |
l | Net income per diluted share of $2.68 increased 3.9% year-over-year |
l | Repurchased $66.3 million of common stock during the quarter |
l | Approved a new $1.0 billion share repurchase authorization |
l | Declared a $0.30 per share dividend |
Three Months Ended | Year-Over- | Nine Months Ended | Year-Over- | ||||||||
September 30, | Year | September 30, | Year | ||||||||
2026 | 2025 | Change | 2026 | 2025 | Change | ||||||
(In thousands, except per share data and percentages) | |||||||||||
Net sales | $638,130 | $623,513 | 2.3% | $1,897,170 | $1,793,463 | 5.8% | |||||
Gross profit | 291,583 | 287,671 | 1.4% | 875,667 | 831,128 | 5.4% | |||||
Gross profit margin | 45.7% | 46.1% | 46.2% | 46.3% | |||||||
Total operating expenses | 150,498 | 160,700 | (6.3)% | 455,574 | 461,734 | (1.3)% | |||||
Income from operations | 141,009 | 140,743 | 0.2% | 424,756 | 383,306 | 10.8% | |||||
Operating income margin | 22.1% | 22.6% | 22.4% | 21.4% | |||||||
Net income | $109,124 | $107,444 | 1.6% | $324,382 | $288,869 | 12.3% | |||||
Net income per diluted common share | $2.68 | $2.58 | 3.9% | $7.90 | $6.89 | 14.7% | |||||
Adjusted EBITDA1 | $167,239 | $155,712 | 7.4% | $502,683 | $437,779 | 14.8% | |||||
Trailing Twelve Months Ended | Year-Over- | ||||
September 30, | Year | ||||
2026 | 2025 | Change | |||
(In thousands, except percentages) | |||||
Total U.S. Housing starts2 | 1,344 | 1,370 | (1.9)% | ||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||
2026 | 2025 | 2026 | 2025 | ||||
Net sales | $638,130 | $623,513 | $1,897,170 | $1,793,463 | |||
Cost of sales | 346,547 | 335,842 | 1,021,503 | 962,335 | |||
Gross profit | 291,583 | 287,671 | 875,667 | 831,128 | |||
Research and development and engineering expense | 18,907 | 20,793 | 55,538 | 61,399 | |||
Selling expense | 54,928 | 56,123 | 162,239 | 166,730 | |||
General and administrative expense | 76,663 | 83,784 | 237,797 | 233,605 | |||
Total operating expense | 150,498 | 160,700 | 455,574 | 461,734 | |||
Acquisition and integration related costs | 141 | 309 | 892 | 449 | |||
Net gain on disposal of assets | (65) | (14,081) | (5,555) | (14,361) | |||
Income from operations | 141,009 | 140,743 | 424,756 | 383,306 | |||
Interest income and other finance costs, net | 4,665 | 2,317 | 13,294 | 4,315 | |||
Other & foreign exchange loss, net | 679 | 777 | (4,508) | 151 | |||
Income before taxes | 146,353 | 143,837 | 433,542 | 387,772 | |||
Provision for income taxes | 37,229 | 36,393 | 109,160 | 98,903 | |||
Net income | $109,124 | $107,444 | $324,382 | $288,869 | |||
Earnings per common share: | |||||||
Basic | $2.69 | $2.59 | $7.92 | $6.92 | |||
Diluted | $2.68 | $2.58 | $7.90 | $6.89 | |||
Weighted average shares outstanding: | |||||||
Basic | 40,612 | 41,520 | 40,932 | 41,737 | |||
Diluted | 40,738 | 41,704 | 41,059 | 41,903 | |||
Cash dividends declared per common share | $0.30 | $0.29 | $0.89 | $0.86 | |||
Other data: | |||||||
Depreciation and amortization | $26,042 | $22,999 | $76,990 | $63,516 | |||
Pre-tax equity-based compensation expense | $6,912 | $5,829 | $21,854 | $18,734 | |||
September 30, | December 31, | |||||
2026 | 2025 | 2025 | ||||
Cash and cash equivalents | $491,251 | $297,304 | $384,138 | |||
Trade accounts receivable, net | 409,361 | 395,353 | 302,688 | |||
Inventories | 511,886 | 591,877 | 594,192 | |||
Other current assets | 58,637 | 64,834 | 71,485 | |||
Total current assets | 1,471,135 | 1,349,368 | 1,352,503 | |||
Property, plant and equipment, net | 609,959 | 613,896 | 627,854 | |||
Operating lease right-of-use assets | 104,529 | 94,363 | 115,060 | |||
Goodwill | 542,472 | 557,836 | 558,521 | |||
Intangible assets, net | 357,129 | 392,517 | 387,729 | |||
Other noncurrent assets | 39,551 | 37,443 | 31,959 | |||
Total assets | $3,124,775 | $3,045,423 | $3,073,626 | |||
Trade accounts payable | $111,922 | $103,593 | $91,467 | |||
Long-term debt, current portion | 15,000 | 22,500 | 15,000 | |||
Accrued liabilities and other current liabilities | 309,004 | 277,204 | 275,328 | |||
Total current liabilities | 435,926 | 403,297 | 381,795 | |||
Operating lease liabilities, net of current portion | 85,777 | 76,599 | 96,819 | |||
Long-term debt, net of current portion and issuance costs | 289,829 | 346,709 | 355,509 | |||
Deferred income tax | 110,857 | 94,088 | 99,792 | |||
Other long-term liabilities | 53,034 | 111,437 | 104,234 | |||
Non-qualified deferred compensation plan awards | 4,173 | 6,653 | 5,715 | |||
Stockholders’ equity | 2,145,179 | 2,006,640 | 2,029,762 | |||
Total liabilities, mezzanine equity, and stockholders’ equity | $3,124,775 | $3,045,423 | $3,073,626 | |||
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | % | September 30, | % | |||||||||
2026 | 2025 | change* | 2026 | 2025 | change* | |||||||
Net Sales by Reporting Segment | ||||||||||||
North America | $501,951 | $483,606 | 3.8% | $1,486,166 | $1,396,993 | 6.4% | ||||||
Percentage of total net sales | 78.7% | 77.6% | 78.3% | 77.9% | ||||||||
Europe | 129,887 | 134,431 | (3.4)% | 394,425 | 381,688 | 3.3% | ||||||
Percentage of total net sales | 20.4% | 21.6% | 20.8% | 21.3% | ||||||||
Asia/Pacific | 6,292 | 5,476 | 14.9% | 16,579 | 14,782 | 12.2% | ||||||
$638,130 | $623,513 | 2.3% | $1,897,170 | $1,793,463 | 5.8% | |||||||
Net Sales by Product Group** | ||||||||||||
Wood Construction | $534,089 | $524,439 | 1.8% | $1,600,067 | $1,520,283 | 5.2% | ||||||
Percentage of total net sales | 83.7% | 84.1% | 84.3% | 84.8% | ||||||||
Concrete Construction | 102,500 | 97,800 | 4.8% | 293,038 | 269,885 | 8.6% | ||||||
Percentage of total net sales | 16.1% | 15.7% | 15.4% | 15.0% | ||||||||
Other | 1,541 | 1,274 | N/M | 4,065 | 3,295 | N/M | ||||||
$638,130 | $623,513 | 2.3% | $1,897,170 | $1,793,463 | 5.8% | |||||||
Gross Profit (Loss) by Reporting Segment | ||||||||||||
North America | $243,148 | $235,589 | 3.2% | $726,018 | $688,903 | 5.4% | ||||||
North America gross margin | 48.4% | 48.7% | 48.9% | 49.3% | ||||||||
Europe | 46,935 | 51,014 | (8.0)% | 145,658 | 139,311 | 4.6% | ||||||
Europe gross margin | 36.1% | 37.9% | 36.9% | 36.5% | ||||||||
Asia/Pacific | 2,091 | 2,077 | N/M | 5,738 | 5,336 | N/M | ||||||
Administrative and unallocated other | (591) | (1,009) | N/M | (1,747) | (2,422) | N/M | ||||||
$291,583 | $287,671 | 1.4% | $875,667 | $831,128 | 5.4% | |||||||
Income (Loss) from Operations | ||||||||||||
North America | $137,024 | $125,179 | 9.5% | $413,321 | $366,516 | 12.8% | ||||||
North America operating margin | 27.3% | 25.9% | 27.8% | 26.2% | ||||||||
Europe | 15,316 | 16,119 | (5.0)% | 42,102 | 41,097 | 2.4% | ||||||
Europe operating margin | 11.8% | 12.0% | 10.7% | 10.8% | ||||||||
Asia/Pacific | 409 | 555 | N/M | 599 | 828 | N/M | ||||||
Administrative and unallocated other | (11,740) | (1,110) | N/M | (31,266) | (25,135) | N/M | ||||||
$141,009 | $140,743 | 0.2% | $424,756 | $383,306 | 10.8% | |||||||
* | Unfavorable percentage changes are presented in parentheses, if any. |
** | The Company manages its business by geographic segment but presents sales by product group as additional information. |
N/M | Statistic is not material or not meaningful. |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||
2026 | 2025 | 2026 | 2025 | ||||
Net Income | $109,124 | $107,444 | $324,382 | $288,869 | |||
Provision for income taxes | 37,229 | 36,393 | 109,160 | 98,903 | |||
Interest income, net and other financing costs | (4,665) | (2,317) | (13,294) | (4,315) | |||
Depreciation and amortization | 26,042 | 22,999 | 76,990 | 63,516 | |||
Other* | (491) | (8,807) | 5,445 | (9,194) | |||
Adjusted EBITDA** | $167,239 | $155,712 | $502,683 | $437,779 | |||
* | Includes acquisition integration and restructuring related expenses, non-qualified deferred compensation adjustments, severance costs, other & foreign exchange loss net, and net loss or gain on disposal of assets. |
** | Includes certain reclassifications in the three and nine months ended September 30, 2025, to conform to the current period presentation. |