Simpson Manufacturing Co., Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Simpson Manufacturing Co., Inc. has filed its Q1 2024 10-Q report.</b>

AI Summary

Simpson Manufacturing Co., Inc. (SSD) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Filed a 10-Q report for the period ending March 31, 2024. Company name: Simpson Manufacturing Co., Inc. Ticker symbol: SSD. Standard Industrial Classification: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]. Business address: 5956 W LAS POSITAS BLVD, PLEASANTON, CA 94588.

Why It Matters

For investors and stakeholders tracking Simpson Manufacturing Co., Inc., this filing contains several important signals. This filing provides an update on the company's financial performance and position for the first quarter of 2024. Investors and analysts can use this report to assess the company's operational health and strategic direction.

Risk Assessment

Risk Level: low — Simpson Manufacturing Co., Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk information.

Analyst Insight

Review the Q1 2024 financial statements and management discussion for insights into revenue, profitability, and operational trends.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-07 — Filing Date (Filed as of date)
• 0000920371-24-000120 — Accession Number (Unique identifier for the filing)
• 3420 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Simpson Manufacturing Co., Inc. (company) — Filer name
• SSD (company) — Ticker symbol
• 5956 W LAS POSITAS BLVD (location) — Business address street
• PLEASANTON (location) — Business address city
• CA (location) — Business address state
• 94588 (location) — Business address zip

FAQ

Industry Context

Simpson Manufacturing Co., Inc. operates within the CUTLERY, HANDTOOLS & GENERAL HARDWARE industry.

Regulatory Implications

This filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for Q1 2024.
2. Review any management discussion and analysis provided.
3. Compare Q1 2024 results to previous periods.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from the previous fiscal year-end report.

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share SSD New York Stock Exchange
• $0.27 — ash dividends declared on common stock, $0.27 per share — — — ( 11,459 ) — — ( 11,459

Filing Documents

• ssd-20240331.htm (10-Q) — 986KB
• exhibit311_3312024.htm (EX-31.1) — 11KB
• exhibit312_3312024.htm (EX-31.2) — 11KB
• exhibit320_3312024.htm (EX-32) — 9KB
• 0000920371-24-000120.txt (&nbsp;) — 6071KB
• ssd-20240331.xsd (EX-101.SCH) — 33KB
• ssd-20240331_cal.xml (EX-101.CAL) — 76KB
• ssd-20240331_def.xml (EX-101.DEF) — 158KB
• ssd-20240331_lab.xml (EX-101.LAB) — 527KB
• ssd-20240331_pre.xml (EX-101.PRE) — 379KB
• ssd-20240331_htm.xml (XML) — 919KB

- Financial Information

Part I - Financial Information

- Financial Statements

Item 1 - Financial Statements Page No. Condensed Consolidated Balance Sheets (unaudited) as of March 31, 2024, 2023 and December 31, 2023 4 Condensed Consolidated Statements of Earnings and Comprehensive Income (unaudited) for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (unaudited) for the Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (unaudited) for the Three Months Ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8

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

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 22

- Quantitative and Qualitative Disclosures about Market Risk

Item 3 - Quantitative and Qualitative Disclosures about Market Risk 30

- Controls and Procedures

Item 4 - Controls and Procedures 31

- Other Information

Part II - Other Information

- Legal Proceedings

Item 1 - Legal Proceedings 32

- Risk Factors

Item 1A - Risk Factors 32

- Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 32

- Defaults Upon Senior Securities

Item 3 - Defaults Upon Senior Securities 33

- Mine Safety Disclosures

Item 4 - Mine Safety Disclosures 33

- Other Information

Item 5 - Other Information 33

- Exhibits

Item 6 - Exhibits 34

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Simpson Manufacturing Co., Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands, unaudited) March 31, December 31, 2024 2023 2023 ASSETS Current assets Cash and cash equivalents $ 369,122 $ 252,541 $ 429,822 Trade accounts receivable, net 343,414 339,674 283,975 Inventories 555,745 576,433 551,575 Other current assets 60,473 53,893 47,069 Total current assets 1,328,754 1,222,541 1,312,441 Property, plant and equipment, net 437,429 369,089 418,612 Operating lease right-of-use assets 65,933 55,902 68,792 Goodwill 492,767 500,749 502,550 Intangible assets, net 352,527 366,122 365,339 Other noncurrent assets 44,536 41,231 36,990 Total assets $ 2,721,946 $ 2,555,634 $ 2,704,724 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Trade accounts payable $ 102,997 $ 95,302 $ 107,524 Accrued liabilities and other current liabilities 226,944 212,864 231,233 Long-term debt, current portion 22,500 22,500 22,500 Total current liabilities 352,441 330,666 361,257 Operating lease liabilities 52,051 45,368 55,324 Long-term debt, net of issuance costs 453,454 549,594 458,791 Deferred income tax 96,937 111,221 98,170 Other long-term liabilities 41,400 31,376 51,436 Total liabilities 996,283 1,068,225 1,024,978 Commitments and contingencies (see Note 12) Stockholders' equity Common stock, at par value 424 426 426 Additional paid-in capital 309,661 295,976 313,119 Retained earnings 1,440,165 1,194,993 1,426,554 Treasury stock — — ( 50,363 ) Accumulated other comprehensive loss ( 24,587 ) ( 3,986 ) ( 9,990 ) Total stockholders' equity 1,725,663 1,487,409 1,679,746 Total liabilities and stockholders' equity $ 2,721,946 $ 2,555,634 $ 2,704,724 The accompanying notes are an integral part of these condensed consolidated financial statements 4 Simpson Manufacturing Co., Inc. and Subsidiaries Condensed Consolidated Statements of Earnings and Comprehensive Income (In thousands except per

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View this 10-Q filing on SEC EDGAR