Simpson Manufacturing Climbs 13% As Profit Beats Estimates

(RTTNews) - Shares of construction products maker Simpson Manufacturing Co., Inc. (SSD) are rising more than 13% Tuesday morning after reporting better-than-expected earnings in the first quarter.

Profit for the first quarter was $87.95 million, or $2.05 per share, lower than $94.58 million, or $2.18 per share in the same quarter a year ago, but beat the average estimate of analysts polled by Thomson-Reuters of $1.4 per share.

Net sales increased 8.3% to $534.4 million from $493.6 million last year.

SSD, currently at $127.69, has traded in the range of $75.25-$127.15 in the last 1 year.