Simpson Manufacturing Co. announced its financial results for the second quarter, reporting a net income of $127 million. The Pleasanton, California-based building materials company also posted earnings of $3.09 per share.
These figures surpassed the expectations of financial analysts. According to data from Zacks Investment Research, the average estimate from five surveyed analysts projected earnings of $2.72 per share for the period.
Revenue for the quarter reached $671.1 million, which also exceeded market forecasts. The same group of analysts had anticipated total revenue of $658.9 million.
The company released the earnings data on Monday. The financial performance marks a positive outcome for the firm, which supplies construction products and hardware.
