Simpson Manufacturing Co., Inc. Files Q3 2024 10-Q

TL;DR

**SIMPSON MFG (SSD) Q3 24 10-Q FILED - CHECK FINANCIALS**

AI Summary

Simpson Manufacturing Co., Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial metrics and business segment information are provided, reflecting the company's ongoing activities and strategic positioning.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Simpson Manufacturing Co., Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024-09-30 — Period End Date (The end of the reporting period for this 10-Q.)
• 2024-11-12 — Filing Date (The date the 10-Q was officially filed with the SEC.)

Key Players & Entities

• Simpson Manufacturing Co., Inc. (company) — Filer of the 10-Q
• 0000920371-24-000182 (filing_id) — Accession Number for the filing
• 20240930 (date) — Conformed Period of Report
• 20241112 (date) — Filed as of Date

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share SSD New York Stock Exchange
• $0.28 — ash dividends declared on common stock, $0.28 per share — — — ( 11,807 ) — — — ( 11,8
• $0.83 — ash dividends declared on common stock, $0.83 per share — — — ( 35,068 ) — — — ( 35,0
• $0.80 — ash dividends declared on common stock, $0.80 per share — — — ( 34,031 ) — — — ( 34,0

Filing Documents

• ssd-20240930.htm (10-Q) — 1411KB
• exhibit311_9302024.htm (EX-31) — 11KB
• exhibit312_9302024.htm (EX-31) — 11KB
• exhibit320_9302024.htm (EX-32) — 9KB
• 0000920371-24-000182.txt ( ) — 7409KB
• ssd-20240930.xsd (EX-101.SCH) — 39KB
• ssd-20240930_cal.xml (EX-101.CAL) — 80KB
• ssd-20240930_def.xml (EX-101.DEF) — 187KB
• ssd-20240930_lab.xml (EX-101.LAB) — 602KB
• ssd-20240930_pre.xml (EX-101.PRE) — 424KB
• ssd-20240930_htm.xml (XML) — 1152KB

- Financial Information

Part I - Financial Information

- Financial Statements

Item 1 - Financial Statements Page No. Condensed Consolidated Balance Sheets (unaudited) as of September 30, 2024, 2023 and December 31, 2023 4 Condensed Consolidated Statements of Earnings and Comprehensive Income (unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (unaudited) for the Nine Months Ended September 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9

- 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 25

- Quantitative and Qualitative Disclosures about Market Risk

Item 3 - Quantitative and Qualitative Disclosures about Market Risk 36

- Controls and Procedures

Item 4 - Controls and Procedures 37

- Other Information

Part II - Other Information

- Legal Proceedings

Item 1 - Legal Proceedings 38

- Risk Factors

Item 1A - Risk Factors 38

- Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 38

- Defaults Upon Senior Securities

Item 3 - Defaults Upon Senior Securities 39

- Mine Safety Disclosures

Item 4 - Mine Safety Disclosures 39

- Other Information

Item 5 - Other Information 39

- Exhibits

Item 6 - Exhibits 40

— 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) September 30, December 31, 2024 2023 2023 ASSETS Current assets Cash and cash equivalents $ 339,427 $ 571,006 $ 429,822 Trade accounts receivable, net 360,350 351,164 283,975 Inventories 583,380 504,446 551,575 Other current assets 51,609 51,583 47,069 Total current assets 1,334,766 1,478,199 1,312,441 Property, plant and equipment, net 495,822 382,508 418,612 Operating lease right-of-use assets 87,097 66,144 68,792 Goodwill 550,946 483,413 502,550 Intangible assets, net 395,517 356,450 365,339 Other noncurrent assets 33,311 48,773 36,990 Total assets $ 2,897,459 $ 2,815,487 $ 2,704,724 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Trade accounts payable $ 110,321 $ 95,267 $ 107,524 Income tax payable 4,126 87,569 3,491 Accrued liabilities and other current liabilities 241,004 222,233 227,742 Long-term debt, current portion 22,500 22,500 22,500 Total current liabilities 377,951 427,569 361,257 Operating lease liabilities 70,496 53,808 55,324 Long-term debt, net of issuance costs 442,885 539,073 458,791 Deferred income tax 89,226 97,298 98,170 Other long-term liabilities 53,457 28,248 51,436 Total liabilities 1,034,015 1,145,996 1,024,978 Non-qualified deferred compensation plan share awards 6,473 — — Commitments and contingencies (see Note 13) Stockholders' equity Common stock, at par value 424 426 426 Additional paid-in capital 311,885 307,149 313,119 Retained earnings 1,606,371 1,383,184 1,426,554 Common stock held in non-qualified deferred compensation plan ("DCP") ( 1,074 ) — — Treasury stock ( 50,280 ) — ( 50,363 ) Accumulated other comprehensive loss ( 10,355 ) ( 21,268 ) ( 9,990 ) Total stockholders' equity 1,856,971 1,669,491 1,679,746 Total liabilities and stockholders' equity $ 2,897,459 $ 2,815,487 $ 2,704,724 The accompanying notes are an integral pa

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View this 10-Q filing on SEC EDGAR