Here are 1-3 brief analogies to describe Simpson Manufacturing (SSD):

• Hilti for wood and concrete structural connections. (Hilti is well-known for its anchoring, fastening, and tool systems in concrete construction; Simpson Manufacturing specializes in a broader range of engineered structural connections for both wood and concrete.)
• The "Intel Inside" for buildings. (Just as Intel provides critical, often unseen, components that make computers function, Simpson Manufacturing provides the essential, hidden structural connectors, fasteners, and anchoring systems that ensure buildings are strong and safe.)

• Wood Construction Products: Simpson Manufacturing provides a wide range of connectors, fasteners, and lateral systems designed for light-frame and timber construction.
• Concrete Construction Products: The company offers adhesives, anchors, specialty chemicals, tools, and repair materials for concrete, masonry, and steel applications.
• Engineering and Design Services: Simpson Manufacturing delivers expert engineering and design assistance to support the specification and use of its construction products.
• Software Solutions: The company develops software tools to help customers efficiently select and apply its various construction products.

Michael Olosky, President and Chief Executive Officer

Mr. Olosky has served as the President and Chief Executive Officer of Simpson Manufacturing Co., Inc. since January 2023. Previously, he was President and Chief Operating Officer from January 2022 to December 2022, and Chief Operating Officer from November 2020 to January 2022. Before joining Simpson, Mr. Olosky spent over 22 years in various leadership positions at Henkel, a global chemical and consumer goods company. His most recent role at Henkel was Regional President, Henkel North America and Head of the Electronics and Industrial Division. His experience at Henkel includes more than nine years of international operations leadership.

Matt Dunn, Chief Financial Officer and Treasurer

Mr. Dunn was appointed Chief Financial Officer and Treasurer, effective January 1, 2025. He joined Simpson Manufacturing Co., Inc. in June 2024 as the Senior Vice President – Finance. Prior to joining Simpson, Mr. Dunn served as Senior Vice President of Finance for North America at Helen of Troy, a global consumer products company. His professional background also includes leading the retaining wall division at Inventure Group, a privately held civil construction products company, and 12 years in finance at Procter & Gamble, following three years in operations finance at Kimberly-Clark.

Cassandra Payton, Executive Vice President, General Counsel

Ms. Payton has served as the Executive Vice President, General Counsel since December 1, 2023. She joined Simpson Manufacturing Co., Inc. in August 2021 as Assistant General Counsel, and was promoted to Vice President, Legal in October 2022, a role she held until December 2023. Before her time at Simpson Manufacturing Co., Inc., Ms. Payton was Associate General Counsel at Dine Brands Global from May 2018 to July 2021.

Jeremy Gilstrap, Executive Vice President, Innovation

Mr. Gilstrap has served as the Executive Vice President, Innovation since January 2023. He began his career with Simpson Strong-Tie in 2001 as a branch engineer. Over the years, he held various positions including Manager of Engineering Research and Development, and established the Engineering Services Division. He also served as Vice President of Engineering, General Manager of the Concrete Construction Products division, and Northwest Regional Vice President.

Phil Burton, Executive Vice President, North America

Mr. Burton has served as the Executive Vice President, North America since January 2023. He joined Simpson Strong-Tie in 1994 as a Sales Manager. In 2004, he was promoted to Vice President, Branch Manager of the McKinney, Texas branch, a position he held until January 2023. In his current role, he is responsible for overseeing all North American operations.

The key risks to Simpson Manufacturing Co., Inc. (SSD) are primarily tied to the cyclical nature of the construction industry, its reliance on raw materials, and the competitive market landscape.

1. Cyclicality of the Construction and Housing Markets: Simpson Manufacturing's financial performance is highly susceptible to the cyclicality of the construction industry, particularly the residential housing market in North America and Europe. Downturns in housing starts, economic fluctuations, changing interest rates, or reduced consumer confidence can significantly impact the demand for the company's wood and concrete construction products, thereby affecting revenue and profitability. A recession or slowdown in the housing market can lead to reduced demand for its products, and it took 8 years for the company's profit to reach a new high after the Great Financial Crisis.
2. Raw Material Dependency, Costs, and Supply Chain Disruptions: The company is highly dependent on raw materials, especially steel, which exposes it to price volatility in these commodities. Tariffs on imported fastener and anchor products, as well as rising input and freight costs, have negatively impacted gross margins. Simpson Manufacturing may not always be able to pass these increased costs onto its customers, potentially leading to margin compression.
3. Intense Competition and Market Saturation: Operating in an increasingly saturated market for construction products, Simpson Manufacturing faces significant competition. To maintain its market position and profitability, the company must continually innovate and differentiate its product offerings. This competitive landscape poses an ongoing threat to its market share.

The addressable markets for Simpson Manufacturing's main products are as follows:

• Wood Connectors & Truss: The addressable market for wood connectors and truss products was estimated at $3.8 billion as of October 2023. This market size includes North America, Europe, and the Pacific Rim.
• Fasteners: The addressable market for fasteners was estimated at $5.1 billion as of October 2023. This market size includes North America, Europe, and the Pacific Rim.
• Concrete & Steel Connections (including anchors and repair products): The addressable market for concrete and steel connections was estimated at $2.8 billion as of October 2023. This market size includes North America, Europe, and the Pacific Rim.

Simpson Manufacturing Co., Inc. (SSD) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market advantages:

• Above-Market Volume Growth and Market Share Gains: Simpson Manufacturing has consistently demonstrated its ability to achieve above-market volume growth, particularly in North America, often outperforming U.S. housing starts. The company aims for continued share gains across its various end markets and product lines, including increased shelf space and enhanced penetration with its innovative fastener solutions.
• Strategic Investments in Capacity Expansion: The company is significantly investing in expanding its production capabilities. This includes the operational Columbus, Ohio facility and a new facility in Gallatin, Tennessee, slated to launch in the latter half of 2025. These capacity expansions are designed to support substantial growth, especially in fastener sales, and meet increasing customer demand.
• Acquisition Strategy and Geographic Expansion: Simpson Manufacturing leverages strategic acquisitions to expand its market reach and product offerings. Notable is the 2022 acquisition of ETANCO, which broadened the company's European presence and product lines, contributing to sales growth in both Europe and North America. The company continues to explore further strategic merger and acquisition opportunities.
• New Product Launches and Innovation: A key driver for future revenue is the company's commitment to innovation. Management has invested in a record number of new product launches and focuses on customer-centric solutions. This ongoing product development extends across structural connectors, fastening systems, anchoring, and other building solutions, allowing Simpson Manufacturing to maintain a leadership position.
• Expansion of Digital Solutions: Simpson Manufacturing is investing in developing and expanding its digital solutions. These initiatives are aimed at enhancing operational efficiency, providing better support for customer needs, and broadening digital offerings for professional suppliers and builders, thereby driving future growth.

Capital Allocation Decisions for Simpson Manufacturing (SSD)

Share Repurchases

• Simpson Manufacturing repurchased $120.0 million in common stock during 2025, fulfilling the previously authorized amount for the fiscal year.
• The company spent $100 million on share buybacks in 2024, entirely funded from operations.
• The Board authorized a new share repurchase program of up to $150.0 million of common stock, effective from January 1, 2026, through December 31, 2026.

Outbound Investments

• Acquisitions contributed approximately 1% to the company's top-line revenue growth in 2025.
• Incremental sales from acquisitions made in 2024 also contributed to net sales increases in 2025.
• The company continues to evaluate potential small "tuck-in" acquisitions in its markets to support key growth initiatives.

Capital Expenditures

• Capital expenditures for the full year 2025 were $161.5 million, which included investments for facility upgrades and expansions.
• In 2024, capital expenditures amounted to $180 million.
• For 2026, capital expenditures are estimated to be in the range of $75.0 million to $85.0 million, expected to normalize post-expansion, with a focus on productivity-enhancing projects.