Simpson Manufacturing Co., Inc. (NYSE: SSD), a major player in the structural connectors and building solutions industry, saw a decline in its first-quarter earnings and revenue, falling short of analysts’ expectations.
The company reported a decrease in consolidated net sales by 0.7% year-over-year, from $534.4 million to $530.6 million. A combination of factors contributed to this modest decline, including volume discount timing and price reductions in North America. Despite a slight increase in sales volumes, these adjustments led to a net sales increase of only 0.1%. European net sales also decreased by 3.4%, primarily due to lower sales volumes.
Despite challenges in the new housing markets of the U.S. and Europe, Simpson Manufacturing remained committed to strategic investments aimed at driving organic growth and capitalizing on the anticipated housing market recovery in 2025.
Mike Olosky, President and CEO of Simpson Manufacturing, expressed confidence in the company’s efforts to maintain profitability and accelerate performance in the future.
