Pricing Boosts Simpson Manufacturing Sales

Simpson Manufacturing Co., Inc. had consolidated net sales of $553.7 million for the third quarter of 2022, an increase of 39.6 per cent from consolidated net sales of $396.7 million in the third quarter of 2021. North America net sales increased 29.3 per cent year over year to $437.8 million, mostly due to product price increases throughout 2021. Europe net sales increased 104.1 per cent to $111.9 million, primarily due to the acquisition of ETANCO. The company had consolidated gross profit of $244.5 million, up 23.5 per cent from $198 million in the prior-year quarter. Gross margin decreased to 44.2 per cent from 49.9 per cent. Net income was $88.2 million compared to net income of $73.8 million last year.