SSD earnings analysis
What we found in SSD's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Simpson Manufacturing reported a strong Q1 2026 with revenues of $587.96 million, up 9.1% year-over-year, and EPS of $2.13, reflecting a 15.1% increase compared to the same quarter last year. The North America segment drove growth primarily through price increases while Europe faced challenges with operating income declining due to higher costs and lower volumes. Management anticipates continued pressure from tariffs and market conditions but maintains a stable outlook for operating margins.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 9.1% YoY
- Net sales reached $587.96 million in Q1 2026, up from $538.9 million in Q1 2025.
- EPS Surged 15.1%
- Diluted EPS increased to $2.13 from $1.85 in the prior year.
- Strong Performance in North America
- Net sales in North America grew 9.8%, attributed mainly to price increases implemented in 2025.
- Adjusted EBITDA Rose 14.1%
- Adjusted EBITDA increased to $139.36 million from $122.17 million year-over-year.
- Operating Cash Flow Improved
- Operating activities generated $35.55 million in Q1 2026, versus $7.56 million in Q1 2025.
- Increased Cash Reserves
- Cash and cash equivalents rose to $341.01 million from $150.29 million year-over-year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Pressure from Tariffs
- Management highlighted potential adverse effects of existing tariffs announced in 2025 that could impact margins.
- Europe Segment Decline
- Operating income in Europe decreased by $2.2 million due to lower sales volumes amid unfavorable weather conditions.
- Inventory Management Challenges
- Cash flow implications and increased costs related to inventory management due to fluctuating raw material prices.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.13
- Gross margin
- 45.2%
- Operating margin
- 19.5%
- Segment
- North America
- Segment
- Europe
- Segment
- Asia/Pacific
What they said about what is next.
Management reiterated their operating margin forecast of 19.5% to 20.5%, including expected gains from land sales.
The filing reads better than the one before it.
What came before.
- 10-Q · August 8, 2025
- Simpson Manufacturing reported Q2 net sales of $631,055,000 and diluted EPS of $2.47 (three months ended June 30, 2025). Revenue and operating margin improved both year-over-year and sequentially, supported by higher…
- 10-K · March 3, 2025
- Simpson Manufacturing positions itself as a category leader in structural connectors with a diversified product portfolio (wood, concrete, fasteners) and an expanding software/digital offering, emphasizing delivery…
- 10-Q · November 12, 2024
- Simpson Manufacturing reported Q3 net sales of $587,153,000 and diluted EPS of $2.21. Revenue was up modestly versus the prior-year quarter but gross profit, operating income and EPS declined versus prior year; the…
- 10-Q · August 7, 2024
- Simpson Manufacturing reported essentially flat quarterly revenue of $596,978 (three months ended June 30, 2024) versus $597,580 a year ago, while diluted EPS declined to $2.31 from $2.50 in the prior-year quarter.…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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