Simpson Manufacturing Co., Inc. (NYSE: SSD), Pleasanton, California, reported sales for the first quarter 2019 were $259.2 million, up 5.9% from first quarter 2018. Profit declined 11% to $22.7 million.
“We had a solid start to the year with our first quarter of 2019 net sales increasing 6% year–over–year to $259.2 million, primarily due to higher average selling prices,” said Karen Colonias, president and CEO of Simpson Manufacturing Co., Inc. “Our overall sales volume was relatively steady with the fourth quarter of 2018. On a year-over-year basis, sales volume for our concrete products was up nicely due to the roll–out of our mechanical anchor products into The Home Depot stores. However, sales volume for our connector products was down year–over–year due to unusually wet and cold weather conditions across the U.S., which impacted housing permits and starts. Looking ahead to the second quarter, we expect demand to improve with the month of April already off to a strong start on better weather conditions.”