Simpson Manufacturing Company (SSD) · wyniki II kw. 2026 i wycena

Przy wzroście 3,3% rocznie (3-letni wzrost przychodów) wartość godziwa z modelu to $115.82 na akcję — kurs jest o 73% powyżej niej. Obecna cena zakłada wzrost o 11,4% rocznie.

1. Główny temat

   Gross margin increased by roughly 100 basis points due to improved absorption and efficiency, while another 100 basis points came from a Texas eminent domain settlement and flat operating expenses.

   Cytat ze źródła

   “Roughly 100 basis points from the gross margin, call it absorption and efficiency and having the better volumes, a little... Roughly 100 basis points from the gain on the eminent domain settlement in Texas. The last 100 is really leverage on keeping OpEx essentially flat in the quarter and then getting the revenue growth primarily behind the pricing.”

2. Prognoza

   The company expects the gross margin to be down slightly for the full year.

   Cytat ze źródła

   “We said we expect the gross margin to be down slightly for the full year.”

3. Słabnie

   As for its outlook on the markets, Simpson Manufacturing now believes 2026 housing starts in the United States will be down low…

   Cytat ze źródła

   “As for our outlook on the markets, we now believe 2026 housing starts in the United States will be down low... and Europe to remain challenging and we do not anticipate sustaining the same level of revenue growth through the remainder of the year. And in Europe, we expect flat to modest growth in the market for 2026.”

Script and answers carried a similar tone, so the script's message held up under questioning.

Zdania, które wpłynęły na ton

“Component manufacturing year-to-date, again, really strong growth there, up high-single digits.”

“During the quarter, we advanced several important initiatives, including bay optimization with creative display solutions, continued Outdoor Accents expansion, and a successful fastener merchandising pilot that is expected to expand...”

“General and administrative expenses increased by 10.5% to $83.6 million, primarily driven by a $3 million increase in our non-qualified deferred compensation program, reflecting the impact of quarter and stock...”