Encore Wire

Encore Wire Corp. engages in manufacturing copper electrical building wire and cable. The firm supplies building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments and manufactured housing. It offers an electric building wire product line that consists primarily of NM-B cable, UF-B cable, THHN/THWN-2 and other types of wire products, including Metal Clad, Armored Cable, Photovoltaic Cable and Bare Copper. Its principal customers are wholesale electrical distributors, who sell building wire and a variety of other products to electrical contractors. The company was founded by Vincent A. Rego in 1989 and is headquartered in McKinney, TX.

Earnings data Q3 2020

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Encore Wire excels in 2022, eyes market share growth

Encore Wire's 2022 performance reflects financial strength and operational resilience, supported by a focus on efficiency, capacity expansion, and vertical integration. Despite challenges posed by material costs, the company's market presence, strong balance sheet, and strategic initiatives position it for continued success and growth in the evolving economic landscape.

Encore Wire reports Q1 sales decline, invests in growth opportunities

Encore Wire faced challenges with lower sales and profitability in Q1 2023 but remains confident in its business model and market opportunities.
The company's strategic investments in the XLPE facility and capacity expansions position it for growth and enhanced market competitiveness.
Maintaining operational resilience, customer service focus, and efficiency are key strengths driving Encore Wire's performance.
Navigating market dynamics, raw material price fluctuations, and demand trends are critical for sustaining profitability and growth.

Encore Wire excels in Q2 2023, faces margin challenges and growth opportunities

Encore Wire delivered a robust Q2 2023 performance with strong financial metrics and a focus on customer service excellence. While facing challenges such as margin abatement and stock volatility, the company remains optimistic about growth opportunities through vertical integration and market demand drivers.

Encore Wire reports resilient Q3 performance amidst market challenges

Encore Wire's Q3 performance reflects resilience amid market challenges, with a focus on customer service, operational agility, and long-term value creation. Strategic investments in efficiency, capacity expansion, and customer-centric initiatives position the company well for sustainable growth and value creation for shareholders.

Encore Wire reports record earnings driven by strong demand growth

Encore Wire's Q4 2023 earnings call showcased strong financial results, driven by increased demand for copper wire and cable, leading to record shipments and solid earnings per share.
The company's strategic focus on customer service, operational efficiency, and capacity expansion positions it well for future growth opportunities and market leadership.
While facing challenges in managing costs, margins, and market dynamics, Encore Wire's emphasis on long-term sustainability and shareholder value creation remains a key priority.

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Encore Wire Corp manufactures electrical building wires and cables. It provides building wire for interior electrical wiring in commercial and industrial buildings, as well as residential, apartment, and manufactured housing. The company's main customers are wholesale electrical wholesalers, who sell building wire and other items to electrical contractors. Encore provides an electrical building wire product line that includes NM-B cable, UF-B cable, THHN/THWN-2, XHHW-2, RHH/RHW-2, and other wire products such as tray cable, metal-clad cable, and armored cable.

Encore Wire (WIRE) closed the most recent trading day at $218.42, moving -1.02% from the previous trading session.

Encore Wire (WIRE) Stock Slides as Market Rises: Facts to Know Before You Trade

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Encore Wire (WIRE) reachead $221.52 at the closing of the latest trading day, reflecting a -0.19% change compared to its last close.

Encore Wire (WIRE) Stock Falls Amid Market Uptick: What Investors Need to Know

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Encore Wire (WIRE) Right Now?

Encore Wire has exceeded consensus estimates for FY 2023 Adj. EBITDA, with $517.1 million compared to the estimated $418 million. The short sellers of Encore Wire are trapped, with a remarkable 3,356,673 shares sold short as of February 15, 2024. Encore Wire has a low float of only 10 million shares, aggressive stock buybacks, no debt, and favorable industry conditions, making it a strong investment opportunity.

Encore Wire: Raising My Price Target To $300, As The Shorts Are Trapped

Encore Wire (WIRE) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.

Here's Why 'Trend' Investors Would Love Betting on Encore Wire (WIRE)

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Encore Wire Corporation (WIRE) Q4 2023 Earnings Call Transcript

MCKINNEY, Texas--(BUSINESS WIRE)--ENCORE WIRE REPORTS STRONG FOURTH QUARTER and FULL YEAR 2023 RESULTS.

Encore Wire Reports Strong Fourth Quarter and Full Year 2023 Results

MCKINNEY, Texas--(BUSINESS WIRE)--Encore Wire Announces Earnings Release Date and Conference Call Details.

Encore Wire Announces Earnings Release Date and Conference Call Details

In the most recent trading session, Encore Wire (WIRE) closed at $223.40, indicating a -1.23% shift from the previous trading day.

Encore Wire (WIRE) Stock Dips While Market Gains: Key Facts

Encore Wire (WIRE) closed at $225.50 in the latest trading session, marking a -1.86% move from the prior day.

Encore Wire (WIRE) Sees a More Significant Dip Than Broader Market: Some Facts to Know

The latest trading day saw Encore Wire (WIRE) settling at $219.14, representing a +1.26% change from its previous close.

Encore Wire (WIRE) Beats Stock Market Upswing: What Investors Need to Know

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Encore Wire (WIRE) concluded the recent trading session at $212, signifying a -0.11% move from its prior day's close.

Encore Wire (WIRE) Stock Drops Despite Market Gains: Important Facts to Note

Encore Wire operates in the copper industry, which is expected to see increased demand due to renewable energy and AI. The company's business model and vertical integration provide a competitive advantage over competitors. Encore Wire holds a call option on copper prices, which is expected to benefit from supply constraints and potential price increases.

Encore Wire: Betting On AI And Renewable Energy With A Call Option On Copper Prices

Encore Wire Corporation (NASDAQ:WIRE ) Q3 2023 Earnings Conference Call October 25, 2023 11:00 AM ET Company Participants Bret Eckert – Executive Vice President and Chief Financial Officer Daniel Jones – President, Chief Executive Officer and Chairman Conference Call Participants Christopher Moore – CJS securities Brent Thielman – D.A. Davidson Eric Marshall – Hodges Capital Julio Romero – Sidoti & Company Operator Thank you for holding.

Encore Wire Corporation (WIRE) Q3 2023 Earnings Call Transcript

MCKINNEY, Texas--(BUSINESS WIRE)--Encore Wire Corporation (NASDAQ Global Select: WIRE) (“Encore Wire” or the “Company”) today announced results for the third quarter of 2023. Third Quarter and YTD 2023 Highlights Third Quarter Earnings per diluted share of $4.82; YTD Earnings per diluted share of $17.40 Third Quarter Net Income of $82.1 million; YTD Net Income of $306.3 million Gross Profit of 23.3% in the third quarter of 2023; 26.9% YTD in 2023 Cash on hand of $581.8 million as of September 3.

Encore Wire Reports Strong Third Quarter Results; Highlights Increased Volumes; Continued Share Repurchases During Quarter

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Encore Wire is exposed to manufacturing re-shoring, increased adoption of EVs, push to develop renewable energy, and emergence of AI. The company is cash rich, has no debt, and trades at just 9x forward earnings.

Like Infrastructure, Green Energy Or AI? You'll Love Encore Wire

In the latest trading session, Encore Wire (WIRE) closed at $173.20, marking a -1.14% move from the previous day.

Encore Wire (WIRE) Registers a Bigger Fall Than the Market: Important Facts to Note

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Encore Wire is an underpriced company caught in the crossfire of shorts betting on copper prices dropping, despite long-term growth potential. The company has strong earnings, a strong balance sheet with no debt, and has been aggressively returning capital to shareholders through buybacks. The transition to renewable energy and increased production of electric vehicles will drive significant demand for copper, benefiting Encore Wire.

Encore Wire: Good Value With Renewable Upside

This year, Encore Wire Corporation's short interest has climbed from 2.5 million shares sold short to 3.9 million. Encore Wire's management has aggressively and opportunistically retired a material amount of its shares and re-upped its buyback authorization to 2 million shares (through 3/31/24). Encore's management team has built a strong business with a high market share and is benefiting from bullish tailwinds in the copper market.

News for Encore Wire Stock (WIRE)