Encore Wire Corp - WIRE STOCK NEWS

Encore Wire Corporation (NASDAQ: WIRE) reported strong third quarter 2022 results, with earnings per diluted share of $9.97 and net income of $191.8 million. Year-to-date earnings per diluted share reached $28.57 and net income totaled $563.8 million. Gross profit margin improved to 39.3% for the quarter. Copper volume sold rose 12.9% year-over-year, while cash on hand increased to $573.6 million. The company repurchased 785,747 shares in the quarter and declared a $0.02 dividend, maintaining a strong balance sheet with no long-term debt.

Encore Wire Corporation (NASDAQ: WIRE) will release its third quarter 2022 earnings on October 25, 2022, after market close. A conference call will follow on October 26, 2022, at 11:00 a.m. Eastern. This call will address the quarterly results and feature a Q&A session. Interested participants can register through the provided link to receive dial-in details. Encore Wire specializes in manufacturing a variety of copper and aluminum electrical wire, focusing on low production costs and exceptional customer service from their Texas campus.

Encore Wire Corporation (NASDAQ: WIRE) announced the appointment of W. Kelvin Walker as a board director effective August 24, 2022. Walker fills the vacancy left by Gregory J. Fisher's resignation and will serve on the Audit, Nominating and Corporate Governance, Sustainability, and Compensation Committees. With a background as CEO of the Dallas Citizens Council and experience at RLJ Equity Partners and 21st Century Group, Walker brings valuable leadership and diversity. CEO Daniel L. Jones expressed enthusiasm for Walker's expected contributions to the company's growth.

Encore Wire Corporation (NASDAQ: WIRE) will host a fireside chat on August 23 at 10:00 am CDT, featuring Brent Thielman from D.A. Davidson & Co. All investors and the public are invited to participate. Registration is available at this link. Participants should join at least five minutes early to ensure access. A replay will be available on their website afterwards. Encore Wire is a leading manufacturer of copper and aluminum electrical wire, focused on low production costs and exceptional customer service.

Encore Wire Corporation (NASDAQ: WIRE) has declared a cash dividend of two cents per share, to be paid on October 21, 2022. Stockholders of record as of October 7, 2022 will receive this dividend. CEO Daniel L. Jones emphasized the company’s commitment to growth and managing its strong balance sheet. Encore Wire is recognized for its extensive range of copper and aluminum electrical wire and cables, focusing on low production costs and exceptional customer service from its Texas facility.

Encore Wire Corporation (NASDAQ: WIRE) reported robust second quarter 2022 results, with earnings per diluted share at $10.71 and net income reaching $210.5 million. Year-to-date earnings per diluted share are $18.62, and net income totals $372.1 million. Gross profit margin stood at 38.3% for Q2 2022, up from 37.3% in Q2 2021. The company increased copper sales volumes by 2.7% in Q2 and 5.5% YTD compared to the previous year, while cash reserves grew to $469.5 million.

Share repurchases totaled over 1.1 million shares YTD.

Encore Wire Corporation (NASDAQ: WIRE) will release its second quarter 2022 earnings on July 25, 2022, after market close. A conference call to discuss the results will be held on July 26, 2022, at 11:00 a.m. Eastern. Investors can participate by calling 866-374-5140 with PIN 42180779#. The company is a leading manufacturer of electrical building wire and prioritizes customer service and low-cost production.

Encore Wire Corporation (NASDAQ: WIRE) has declared a cash dividend of two cents per share, payable on July 15, 2022, to stockholders of record on July 1, 2022. CEO Daniel L. Jones emphasized that future dividends will depend on the Company's earnings and cash flow. With a focus on customer service and cost-effective production, Encore Wire remains committed to the growth of the company while ensuring a strong balance sheet.

Encore Wire Corporation (NASDAQ: WIRE) reported strong first quarter 2022 results, with diluted earnings per share reaching $7.96 and net income of $161.5 million, up from $41.2 million in Q1 2021. Net sales surged to $723.1 million, fueled by an 8.6% increase in copper volume sold. The gross profit margin stood at 33.7%, down slightly from 34.2% the previous quarter. The company repurchased 500,917 shares and maintained a cash balance of $466.1 million. The ongoing expansion and investments aim to strengthen Encore Wire's competitive position in the market.