Brief: Simpson Manufacturing Announces 2020 First Quarter Financial Results And Business Update In Response To Covid-19

Simpson Manufacturing

27/04/2020 21:26

April 27 (Reuters) - Simpson Manufacturing Co Inc  SSD.N :
    * SIMPSON MANUFACTURING CO., INC. ANNOUNCES 2020 FIRST
QUARTER
FINANCIAL RESULTS AND BUSINESS UPDATE IN RESPONSE TO COVID-19
    * Q1 EARNINGS PER SHARE $0.83
    * Q1 SALES $283.7 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$274.8
MILLION
    * Q1 EARNINGS PER SHARE ESTIMATE $0.62 -- REFINITIV IBES
DATA
    * WITHDRAWING 2020 PLAN TARGETS AND FINANCIAL OUTLOOK DUE TO
COVID-19
    * ENDED QUARTER WITH NEARLY $306 MILLION IN CASH ON HAND
AFTER
DRAWING DOWN $150 MILLION ON $300 MILLION REVOLVING CREDIT
FACILITY
    * SIMPSON MANUFACTURING CO - IN LATE MARCH, 2 OF CO'S
EUROPEAN
MANUFACTURING FACILITIES IN UNITED KINGDOM, FRANCE WERE ORDERED
TO CEASE NEARLY ALL OPERATIONS

Source text for Eikon:  ID:nPn6wWTkPa 
Further company coverage:  SSD.N 

 ((Briefs@thomsonreuters.com;))