Simpson Manufacturing Posts Q1 Results Beat

Simpson Manufacturing (SSD), a maker of wood construction products, reported late Monday Q1 net profit of $0.54 per share, up from $0.48 per share in the prior year period and higher than the $0.48 per share Street estimate provided by Capital IQ.

Net sales were $244.8 million, up from $219.9 million reported for the same period last year and higher than the $237.6 million Street estimate.

In its outlook, Simpson said it expects the market price for steel to continue to increase in Q2 due to uncertainty over steel tariffs. It said it expects its 2018 full-year gross profit margin to be 45% to 46% and its 2018 full-year effective tax rate to be 26% to 27%.

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