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Houston Wire & Cable Company (Nasdaq: HWCC) will release its Second Quarter 2020 results on Thursday, August 6, 2020, after market close. The company has stopped hosting quarterly earnings calls but remains committed to providing industry-related products and value-added services. With 45 years of experience, HWCC offers a range of products including cables and related hardware with comprehensive services such as same-day shipping and inventory management. Headquartered in Houston, Texas, the company operates multiple sales and distribution facilities across the U.S.
Houston Wire & Cable Company (NASDAQ: HWCC) has appointed Gary Yetman as executive chairman, succeeding William H. Sheffield, who will transition to the Nominating and Corporate Governance Committee. Yetman, who joined the board in 2014, previously led Coleman Cable, significantly increasing its revenues. The company also announced several promotions, including Jerry Zurovchak as COO, while Christopher M. Micklas, CFO, will leave the company effective July 10, 2020. Eric W. Davis will take on the interim CFO role. The company has over 44 years of industry experience as a leading distributor.
Houston Wire & Cable Company (NASDAQ: HWCC) announced its Q1 2020 results, reporting a net income of $0.5 million, down from $2.3 million in Q1 2019. Adjusted earnings per share were $0.04. The company has targeted annual expense savings of up to $14 million and reduced net debt by $11.7 million, reaching $70.7 million as of May 5, 2020. CEO James Pokluda highlighted the company's operational resilience during the pandemic and the receipt of a Payroll Protection Program loan to maintain employment and operational expenses.
