Simpson (SSD) Reports Q3: Everything You Need To Know Ahead Of Earnings

StockStory
20 Oct 2024
Simpson (SSD) Reports Q3: Everything You Need To Know Ahead Of Earnings

Building products manufacturer Simpson (NYSE:SSD) will be announcing earnings results tomorrow after the bell. Here’s what you need to know.

Simpson missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $597 million, flat year on year. It was a disappointing quarter for the company, with a miss of analysts’ earnings estimates.

Is Simpson a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Simpson’s revenue to grow 1.9% year on year to $591.1 million, slowing from the 4.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.42 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Simpson has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Simpson’s peers in the building products segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AZZ delivered year-on-year revenue growth of 2.6%, meeting analysts’ expectations, and Insteel reported a revenue decline of 14.7%, falling short of estimates by 7.5%. AZZ traded down 5.2% following the results while Insteel was also down 7.4%.

Read our full analysis of AZZ’s results here and Insteel’s results here.

There has been positive sentiment among investors in the building products segment, with share prices up 3.3% on average over the last month. Simpson is down 1% during the same time and is heading into earnings with an average analyst price target of $192.33 (compared to the current share price of $190.08).

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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