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Net sales growth of 9.1% was primarily driven by 2025 pricing actions and favorable foreign exchange, which offset a 1% decline in overall volume.

The component manufacturer business achieved double-digit volume growth, fueled by new customer wins and increased demand for labor-efficiency solutions like software and truss equipment.

OEM segment strength continues to be supported by long-term trends toward prefabrication and mass timber, allowing the segment to outpace broader construction market trends.

North American residential volumes increased modestly despite soft housing starts, aided by cross-selling initiatives and high service levels for LBM partners.

European performance was impacted by a slow start due to adverse weather, though management remains confident in long-term profitability improvements through footprint optimization.

Gross margin compression of 130 basis points was attributed to higher material and labor costs, alongside approximately 100 basis points of startup headwinds from the new Gallatin facility.

Management lowered the 2026 U.S. housing start outlook to a low single-digit decline, citing feedback from market forecasters and a soft spring selling season.

Revenue growth is expected to moderate through the remainder of the year as the impact of 2025 price increases laps and market conditions remain challenging.

Full-year consolidated operating margin is projected to remain in the 19.5% to 20.5% range, supported by strategic cost savings and disciplined pricing.

The company anticipates a $10 million to $12 million benefit from the sale of vacant land in the second half of 2026.

European operations are expected to face $3 million to $5 million in footprint optimization costs as part of a long-term profitability strategy.

Strategic cost savings initiatives resulted in $2.3 million of one-time costs during the first quarter.

Tariffs continue to pressure concrete construction product margins, though these are being partially mitigated by targeted pricing actions.

Inventory levels were reduced by $45.2 million sequentially as part of a productivity drive to optimize finished goods and work-in-process levels.

The Board's $150 million share repurchase program for 2026, announced in October, reflects confidence in the company's long-term prospects and commitment to returning capital to shareholders.

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Management has not announced additional price increases in North America beyond the two implemented last year, despite rising fuel and steel costs.

The company is currently focused on internal productivity and cost-out measures to preserve gross margins before considering further market-wide pricing actions.

California and Florida remain significantly below peak housing start levels from three years ago.

While California customers report strong backlogs and pending projects, this activity has not yet translated into realized sales revenue for Simpson.

Growth is driven by a multi-year shift toward a market-focused sales team and the rollout of cloud-based software solutions.

Management believes their customer-friendly contracting terms and investment in AI-driven quality assurance are creating a competitive advantage that attracts smaller and mid-sized producers.

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