Simpson Mfg. reported sales, including fasteners, increased 8.9% to $396.7 million in the third quarter of 2021.

Sales in North America rose 6.8% to $338.6 million, while sales in Europe improved 22.5% to $54.8 million and sales in Asia grew 25.8% to $3.3 million.

Q3 gross profit gained 14.3% to $198 million, while gross margin increased to 49.9% from 47.6%. Operating income rose 10.2% to $100.6 million due to the increase in consolidated gross profit, partly offset by higher operating expenses. Consolidated operating margin edged higher to 25.4%.

Q3 capital expenditures nearly doubled to $12 million.

“During the third quarter, we experienced lighter sales volumes in North America in the distribution channels we serve,” stated CEO Karen Colonias. “We believe our customers are adopting a more cautious stance in regard to their inventory levels given tightening labor and supply chain conditions and the potential impact on the building industry.”

During the first nine months of 2021, sales, including fasteners, climbed 18.5% to $1.15 billion, with operating income growing 27% to $270.7 million and net income improving 25% to $196.6 million. Web: SimpsonMfg.com