Solid Q4 for Simpson Manufacturing
Simpson Manufacturing, the parent company of Simpson Strong-Tie, reported fourth quarter 2019 net sales increased 8.5% to $262.5 million from sales of $241.8 million in the fourth quarter 2018.
North America net sales increased 10.8% to $226.8 million compared to $204.7 million for the same period a year ago, primarily due to both increased sales volume and higher average unit prices. Europe net sales fell 4.1% to $33.5 million for the period.
Net sales for the full year increased 5.4% to 1.14 billion compared to sales $1.08 billion in 2018.
North America full-year net sales rose 6.8% to $972.8 million while sales in Europe fell 2.4% to $155.1 million.
Simpson posted a net income of $28.1 million for the fourth quarter more than doubling a net income of $12.8 million for the corresponding quarter in 2018.
The Pleasanton, Calif.-based company’s full-year net income grew 5.8% to $134 million compared to a net income of $126.6 million in 2018.
###
The Bottom Line: Fourth quarter sales surge 8.5% thanks to volume and pricing while the fastener and builder solutions provider sees profits more than double to $28.1 million for the period.
What the CEO said: “We made significant operational and financial progress in 2019 resulting in solid organic growth, enhanced operating efficiencies and improved profitability,” said Karen Colonias, president and CEO of Simpson Manufacturing. “Our 2019 net sales improved 5.4% over 2018 to $1.14 billion, driven by higher sales volume, despite the adverse weather conditions experienced in the first half of the year and lapping the benefit of higher sales prices following the price increases we implemented in mid–2018.”
Company info: Click here to read Simpson Manufacturing’s full fourth quarter 2020 report.
North America net sales increased 10.8% to $226.8 million compared to $204.7 million for the same period a year ago, primarily due to both increased sales volume and higher average unit prices. Europe net sales fell 4.1% to $33.5 million for the period.
Net sales for the full year increased 5.4% to 1.14 billion compared to sales $1.08 billion in 2018.
North America full-year net sales rose 6.8% to $972.8 million while sales in Europe fell 2.4% to $155.1 million.
Simpson posted a net income of $28.1 million for the fourth quarter more than doubling a net income of $12.8 million for the corresponding quarter in 2018.
The Pleasanton, Calif.-based company’s full-year net income grew 5.8% to $134 million compared to a net income of $126.6 million in 2018.
###
The Bottom Line: Fourth quarter sales surge 8.5% thanks to volume and pricing while the fastener and builder solutions provider sees profits more than double to $28.1 million for the period.
What the CEO said: “We made significant operational and financial progress in 2019 resulting in solid organic growth, enhanced operating efficiencies and improved profitability,” said Karen Colonias, president and CEO of Simpson Manufacturing. “Our 2019 net sales improved 5.4% over 2018 to $1.14 billion, driven by higher sales volume, despite the adverse weather conditions experienced in the first half of the year and lapping the benefit of higher sales prices following the price increases we implemented in mid–2018.”
Company info: Click here to read Simpson Manufacturing’s full fourth quarter 2020 report.