Simpson Manufacturing Co. Says Based On Current Expectations That U.S. Housing Starts Will Be Down From The Prior Year, Operating Margin Is Estimated To Be In The Range Of 19.0%-19.5%; The Effective Tax Rate Is Estimated To Be In The Range Of 25.3%-25.8%
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Simpson Manufacturing Co. updates its 2024 financial outlook, anticipating a decrease in U.S. housing starts, with an operating margin of 19.0%-19.5% and an effective tax rate of 25.3%-25.8%. Capital expenditures are projected at $175-$185 million.
October 21, 2024 | 8:23 pm
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Simpson Manufacturing Co. anticipates a decline in U.S. housing starts, impacting its operating margin, which is estimated to be between 19.0% and 19.5%. The effective tax rate is projected at 25.3%-25.8%. Capital expenditures are expected to be $175-$185 million.
The anticipated decline in U.S. housing starts suggests reduced demand for Simpson Manufacturing's products, likely impacting revenue negatively. The operating margin and tax rate projections indicate stable financial management, but the overall outlook is cautious due to market conditions.
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