Simpson Manufacturing Co., Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Simpson Manufacturing Co., Inc. released its 2023 10-K filing detailing financial performance and operations.</b>

AI Summary

Simpson Manufacturing Co., Inc. (SSD) filed a Annual Report (10-K) with the SEC on February 28, 2024. Simpson Manufacturing Co., Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing provides detailed financial information and business operations for the fiscal year 2023. Key financial data includes total assets of $43,326 and total debt of $42,326. The company reported a net income of $1.03 per diluted share for the fiscal year. The report covers the period from January 1, 2023, to December 31, 2023.

Why It Matters

For investors and stakeholders tracking Simpson Manufacturing Co., Inc., this filing contains several important signals. This 10-K filing provides investors with a comprehensive overview of Simpson Manufacturing's financial health and strategic positioning for the fiscal year 2023. The detailed financial statements and risk factors outlined in the report are crucial for stakeholders to assess the company's performance and future outlook.

Risk Assessment

Risk Level: medium — Simpson Manufacturing Co., Inc. shows moderate risk based on this filing. The company's financial performance is subject to market conditions and operational execution, as indicated by the financial data presented in the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Simpson Manufacturing's performance and future prospects.

Financial Highlights

total Assets

43,326

total Debt

42,326

eps

1.03

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period end date)
• 43,326 — Total Assets (As of December 31, 2023)
• 42,326 — Total Debt (As of December 31, 2023)
• 1.03 — EPS (Diluted) (For the fiscal year ended December 31, 2023)

Key Players & Entities

• Simpson Manufacturing Co., Inc. (company) — Filer and subject of the report
• SSD (company) — Ticker symbol for Simpson Manufacturing Co., Inc.
• DE (company) — State of incorporation
• CA (company) — State of business and mailing address

FAQ

Industry Context

Simpson Manufacturing Co., Inc. operates within the CUTLERY, HANDTOOLS & GENERAL HARDWARE industry (SIC 3420).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information.

What Investors Should Do

1. Analyze the detailed financial statements for revenue, net income, and EPS trends.
2. Review the risk factors section for potential challenges and mitigation strategies.
3. Compare key financial metrics (Total Assets, Total Debt) with previous fiscal years.

Key Dates

• 2024-02-28: Filing Date — Submission of the 2023 annual report on Form 10-K
• 2023-12-31: Fiscal Year End — End date of the reporting period

Year-Over-Year Comparison

This 10-K filing for the fiscal year ended December 31, 2023, provides updated financial data and operational insights compared to previous filings.

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 SSD New York Stock Exchange Securitie

Filing Documents

• ssd-20231231.htm (10-K) — 2157KB
• exhibit105eocpsasamended.htm (EX-10.5) — 12KB
• exhibit10122024executive.htm (EX-10.12) — 31KB
• exhibit10132024exeuctive.htm (EX-10.13) — 29KB
• exhibit21-listofsubsidiari.htm (EX-21) — 25KB
• exhibit23auditorsconsent_2.htm (EX-23) — 3KB
• exhibit311annualceocertifi.htm (EX-31.1) — 11KB
• exhibit312_annualcfocertif.htm (EX-31.2) — 11KB
• exhibit32_annual2023.htm (EX-32) — 8KB
• exhibit97compensation_re.htm (EX-97) — 15KB
• exhibit10122024executive001.jpg (GRAPHIC) — 183KB
• exhibit10122024executive002.jpg (GRAPHIC) — 280KB
• exhibit10122024executive003.jpg (GRAPHIC) — 267KB
• exhibit10122024executive004.jpg (GRAPHIC) — 301KB
• exhibit10122024executive005.jpg (GRAPHIC) — 274KB
• exhibit10122024executive006.jpg (GRAPHIC) — 272KB
• exhibit10122024executive007.jpg (GRAPHIC) — 303KB
• exhibit10122024executive008.jpg (GRAPHIC) — 36KB
• exhibit10122024executive009.jpg (GRAPHIC) — 61KB
• exhibit10132024exeuctive001.jpg (GRAPHIC) — 194KB
• exhibit10132024exeuctive002.jpg (GRAPHIC) — 307KB
• exhibit10132024exeuctive003.jpg (GRAPHIC) — 349KB
• exhibit10132024exeuctive004.jpg (GRAPHIC) — 292KB
• exhibit10132024exeuctive005.jpg (GRAPHIC) — 263KB
• exhibit10132024exeuctive006.jpg (GRAPHIC) — 302KB
• exhibit10132024exeuctive007.jpg (GRAPHIC) — 63KB
• exhibit105eocpsasamended001.jpg (GRAPHIC) — 184KB
• exhibit105eocpsasamended002.jpg (GRAPHIC) — 242KB
• exhibit105eocpsasamended003.jpg (GRAPHIC) — 198KB
• exhibit105eocpsasamended004.jpg (GRAPHIC) — 118KB
• exhibit97compensation_re001.jpg (GRAPHIC) — 243KB
• exhibit97compensation_re002.jpg (GRAPHIC) — 259KB
• exhibit97compensation_re003.jpg (GRAPHIC) — 262KB
• exhibit97compensation_re004.jpg (GRAPHIC) — 271KB
• ssd-20231231_g1.jpg (GRAPHIC) — 68KB
• 0000920371-24-000063.txt (&nbsp;) — 19848KB
• ssd-20231231.xsd (EX-101.SCH) — 60KB
• ssd-20231231_cal.xml (EX-101.CAL) — 84KB
• ssd-20231231_def.xml (EX-101.DEF) — 384KB
• ssd-20231231_lab.xml (EX-101.LAB) — 1005KB
• ssd-20231231_pre.xml (EX-101.PRE) — 660KB
• ssd-20231231_htm.xml (XML) — 2090KB

Risk Factors

Item 1A. Risk Factors 12

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 24

Cybersecurity

Item 1C. Cybersecurity 24

Properties

Item 2. Properties 25

Legal Proceedings

Item 3. Legal Proceedings 26

Mine Safely Disclosure

Item 4. Mine Safely Disclosure 26 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26

Reserved

Item 6. Reserved 29

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 40

Consolidated Financial Statements and Supplementary Data

Item 8. Consolidated Financial Statements and Supplementary Data 42

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 80

Controls and Procedures

Item 9A. Controls and Procedures 80

Other Information

Item 9B. Other Information 80 Item 9C. D is closure Regarding Foreign Juris dictions That Prevent Inspections 80 PART III

Directors, Executive Officers, and Corporate Governance

Item 10. Directors, Executive Officers, and Corporate Governance 81

Executive Compensation

Item 11. Executive Compensation 81

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 81

Certain Relationship and Related Transactions, and Director Independence

Item 13. Certain Relationship and Related Transactions, and Director Independence 81

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 81 PART 1V

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 81

Form 10-K Summary

Item 16. Form 10-K Summary 84 3 NOTE ABOUT FORWARD-LOOKING STATEMENTS In this filing we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, and future events or performance. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended "the "Exchange Act"). Forward-looking statements generally can be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "target," "continue," "predict," "project," "change," "result," "future," "will," "could," "can," "may," "likely," "potentially," or similar expressions. Forward-looking statements are all statements other than those of historical fact and include, but are not limited to, statements about future financial and operating results, our plans, objectives, business outlook, priorities, expectations and intentions, expectations for sales and market growth, comparable sales, earnings and performance, stockholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for services, share repurchases, our ongoing integration of FIXCO Invest S.A.S ("ETANCO"), our strategic initiatives, including the impact of these initiatives, on our strategic and operational plans and financial results, and any statement of an assumption underlying any of the foregoing. Forward-looking statements are subject to inherent uncertainties, risks and other factors that are difficult to predict and could cause our actual results to vary in material respects from what we have expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those expressed in or implied by our forward-looking statements include, the effects o

Business

Item 1. Business. Company Background Simpson Manufacturing Co., Inc. ("Simpson," the "Company," "we," "us," or "our,") through its subsidiaries, including, Simpson Strong-Tie Company Inc. ("SST"), designs, engineers and is a leading manufacturer of structural solutions for wood, concrete, and steel connections. These solutions help customers design and build safer and stronger structures. The Company is relentlessly focused on providing customers the best in-class field support, technical expertise, digital tools, and training. Our research, rigorous testing, and focus on innovation enable us to design cost-effective, high-performing, and easy-to-install solutions for a multitude of applications in wood, steel, and concrete structures. Our products for wood construction are used in light-frame building applications and include connectors, truss plates, screw fastening systems, fasteners and pre-fabricated lateral-force resisting systems. Our products for concrete construction products are used in concrete, masonry and steel building applications and include adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber reinforced materials, and other repair products used for protecting and strengthening structures. We market our products to the residential construction, commercial construction, original equipment manufacturer ("OEM"), component manufacturers and national retail markets domestically in North America, primarily in the United States, and internationally, primarily in Europe. We also provide engineering services to support and enhance products and specifications of products while growing our offering of digital tools and design, planning and estimating software to facilitate the specification, selection and use of our products. The Company has continuously manufactured structural connectors since 1956 and believes that the Simpson Strong-Tie brand benefits from strong brand name recognition in residential, light industria

View Full Filing

View this 10-K filing on SEC EDGAR