Simpson Manufacturing Co., Inc. (SSD): A Bull Case Theory 

We came across a bullish thesis on Simpson Manufacturing Co., Inc. on Beeli Capital’s Substack by Andrew Beeli. In this article, we will summarize the bulls’ thesis on SSD. Simpson Manufacturing Co., Inc.’s share was trading at $180.27 as of September 22nd. SSD’s trailing P/E was 22.94 according to Yahoo Finance.

SSD delivered a solid quarter, exceeding expectations with revenue of $631 million versus the $599 million estimate and adjusted EPS of $2.47 versus $2.31 consensus. The company’s strong performance was highlighted by robust operating margins and management’s reaffirmation of 2025 guidance, supporting continued confidence in profitability. Despite the upbeat results, organic growth in North America was modest at 4.5% year-over-year (6.4% reported), partly reflecting a June price increase, while Europe saw limited expansion, declining 2.7% excluding currency effects. Capital expenditures were reduced by $10 million to $150 million, reflecting disciplined investment and cost management.

A notable operational highlight was the timely and under-budget completion of the Columbus facility, which enables greater domestic production of fasteners, supporting both efficiency and margin expansion. Analysts are optimistic about the mid-single-digit price increases expected to roll through the remainder of the year, which could further drive revenue growth, while the company retains potential to raise prices in response to additional tariffs without significant pressure on input costs.

While the quarter confirms SSD’s underlying strength and operational discipline, the market reaction—nearly a 10% stock gain—suggests a catch-up to fair value rather than a structural rerating. Overall, SSD remains attractively positioned, combining solid cash flow generation, margin resilience, and capacity expansion, with a trajectory for moderate price-driven growth. While the stock is now slightly less cheap than before, the company’s fundamentals and strategic execution provide a compelling, low-risk investment case with potential upside from both operational leverage and disciplined pricing initiatives.

Previously we covered a bullish thesis on Owens Corning (OC) by Brian Coughlin in January 2025, which highlighted the company’s leadership in insulation, roofing, and fiberglass composites, attractive valuation, and tailwinds from U.S. residential repair and remodeling. The stock has depreciated approximately by 23.57% since our coverage due to broader market pressures. The thesis still stands as OC maintains strong fundamentals. Andrew Beeli shares a similar perspective but emphasizes SSD’s operational execution, margin resilience, and disciplined cost management.

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Disclosure: None.