Simpson Manufacturing Q1 net income falls 14.3% to $75.4 million on lower sales
Simpson Manufacturing reported first-quarter 2024 net sales of $530.6 million, down 0.7%, and net income of $75.4 million, or $1.77 per diluted share, down 14.3% from $2.05 a year earlier. The company said higher operating expenses and lower gross profit drove the decline, and it updated its full-year 2024 outlook, now estimating an operating margin of 20.0% to 21.5%.
Key points
- Net sales of $530.6 million, down 0.7% from $534.4 million; North America sales rose 0.1%, Europe fell 3.4%
- Income from operations of $96.1 million, down 18.8% from $118.4 million; operating margin 18.1% versus 22.1%
- Net income per diluted share of $1.77 versus $2.05 in the prior-year quarter
- 2024 outlook: operating margin 20.0% to 21.5%; capital expenditures about $185.0 million
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 22, 2024.
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