STOCK TITAN

Encore Wire Corporation - WIRE STOCK NEWS

Welcome to our dedicated page for Encore Wire Corporation news (Ticker: WIRE), a resource for investors and traders seeking the latest updates and insights on Encore Wire Corporation stock.

Encore Wire Corporation (symbol: WIRE) is a leading manufacturer of residential, commercial, and industrial copper and aluminum electrical building wire. With a sprawling 425-acre single-campus facility that boasts over 2.1 million square feet under roof, Encore Wire ensures deep inventory levels and unparalleled delivery times. The company offers a diverse range of products such as NM-B cable, UF-B cable, THHN/THWN-2, XHHW-2, and RHH/RHW-2, among others, including specialized tray cable, metal-clad, and armored cable.

Encore Wire's principal customers are wholesale electrical distributors who provide building wire and various other products to electrical contractors. This positions Encore Wire as a critical supplier for major building projects, whether it be for homes, apartments, industrial complexes, or commercial buildings. The company's innovative solutions, such as its award-winning colored wire and the metal-clad and armored clad SmartColorID identification system, are designed to promote cost and labor savings while enhancing safety.

Recent achievements include the launch of cutting-edge wire pulling solutions aimed at streamlining electrical installations. Encore Wire’s commitment to innovation and quality has solidified its reputation in the market, earning industry accolades and customer loyalty.

Financially, Encore Wire has shown robust performance. The company maintains strong revenue streams and continues to reinvest in state-of-the-art manufacturing technology to retain its competitive edge. Strategic partnerships with key players in the electrical distribution market further bolster its market position.

Ongoing projects at Encore Wire focus on expanding product lines and enhancing manufacturing capabilities. These initiatives are part of the company’s broader strategy to meet the evolving needs of the electrical wiring industry and to deliver superior value to its customers.

News
Rhea-AI Summary

Encore Wire (NASDAQ: WIRE) announced a 2-cent per share cash dividend, declared by its Board of Directors. The dividend will be paid on July 19, 2024, to stockholders of record as of July 5, 2024. Daniel L. Jones, Chairman, President, and CEO, emphasized the company's commitment to low-cost production and exceptional customer service. Encore Wire manufactures a wide range of copper and aluminum electrical wire and cables, proudly made in America at their Texas campus. Contact Bret J. Eckert, CFO, for more information.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
dividends
-
Rhea-AI Summary
Encore Wire (WIRE) reported first-quarter results with earnings per diluted share of $3.92 and net income of $63.3 million. Despite a decrease in net sales compared to the previous year, the company experienced an increase in copper and aluminum unit volumes shipped. Gross profit percentage decreased from the previous year due to lower average selling prices. The company's cash on hand increased to $614.1 million as of March 31, 2024. Encore Wire remains committed to reinvesting in the business by expanding capacity, efficiency, and vertical integration, with total capital expenditures expected to range from $130 - $150 million in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.42%
Tags
-
Rhea-AI Summary
Encore Wire has agreed to be acquired by Prysmian for $290.00 per share in cash, representing a premium of 20% to the 30-day VWAP and 29% to the 90-day VWAP. The implied Enterprise Value is approximately €3.9 billion, with expected synergies. The transaction is expected to bring significant benefits to both companies and stakeholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.59%
Tags
News
Rhea-AI Summary
Encore Wire Corporation (WIRE) declares a cash dividend of two cents per share, to be paid on April 19, 2024, to stockholders of record as of April 5, 2024. The Company will continue to pay future dividends based on earnings and cash flow, focusing on long-term growth and maintaining a strong balance sheet.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.42%
Tags
dividends
-
Rhea-AI Summary
Encore Wire Corporation (NASDAQ: WIRE) reported strong results for the fourth quarter and full year 2023, with record copper pounds shipped. The company achieved earnings per diluted share of $4.10 in Q4 and $21.62 for the full year. Net income was $66.1 million in Q4 and $372.4 million for 2023. The company repurchased shares and had $560.6 million in cash as of December 31, 2023, with no long-term debt. Despite a decrease in net sales, the company's copper unit volumes increased, but gross profit margin decreased due to lower average selling prices. The company remains committed to returning capital to shareholders and investing in organic projects for future growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.61%
Tags
-
Rhea-AI Summary
Encore Wire Corporation (WIRE) announced the release of its fourth quarter and full year 2023 earnings on February 13, 2024, after the stock market close. The company will host a conference call on February 14, 2024, to discuss the results and conduct a Q&A session. Encore Wire Corporation is a leading manufacturer of copper and aluminum electrical wire and cables, focusing on low-cost production and exceptional customer service. The company's products are made in America at its Texas campus.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.05%
Tags
News
Rhea-AI Summary
Encore Wire Corporation (NASDAQ: WIRE) declares a two-cent per share cash dividend, payable on January 19, 2024, to stockholders of record as of January 5, 2024. The dividend is subject to future earnings and cash flow. The company emphasizes its commitment to long-term management and protecting its strong balance sheet. Encore Wire is a leading manufacturer of copper and aluminum electrical wire and cables, focusing on low-cost production and exceptional customer service.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.63%
Tags
dividends
-
Rhea-AI Summary
Encore Wire Corporation announces third quarter 2023 results, with earnings per diluted share of $4.82 and net income of $82.1 million. Gross profit percentage for the quarter was 23.3%. Company repurchased 710,083 shares during the quarter. Net sales for the quarter were $637.0 million, a decrease compared to the same quarter last year. Copper unit volume increased 6.4%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4%
Tags
buyback earnings
-
Rhea-AI Summary
Encore Wire Corporation to release third quarter 2023 earnings
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
News
Rhea-AI Summary
Encore Wire Corporation (NASDAQ: WIRE) has declared a cash dividend of two cents per share. The dividend will be paid on October 20, 2023, to stockholders of record as of October 6, 2023. Future dividends will be subject to earnings and cash flow considerations. Encore Wire Corporation is a leading manufacturer of copper and aluminum electrical wire and cables, focusing on low-cost production and exceptional customer service.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.5%
Tags
dividends

FAQ

What products does Encore Wire Corp offer?

Encore Wire Corp offers a variety of electrical building wire products including NM-B cable, UF-B cable, THHN/THWN-2, XHHW-2, RHH/RHW-2, tray cable, metal-clad, and armored cable.

Who are the principal customers of Encore Wire Corp?

The principal customers of Encore Wire Corp are wholesale electrical distributors, who in turn sell building wire and other related products to electrical contractors.

What is the SmartColorID system?

The SmartColorID system is an award-winning identification system for metal-clad and armored clad cables that promotes cost and labor savings and enhances safety.

Where is Encore Wire Corp's manufacturing facility located?

Encore Wire Corp's manufacturing facility is located on a 425-acre single-campus with over 2.1 million square feet under roof.

What are some recent achievements of Encore Wire Corp?

Recent achievements include the launch of new wire pulling solutions aimed at making electrical installations more efficient.

How does Encore Wire Corp ensure quick delivery times?

Encore Wire Corp ensures quick delivery times through its deep inventory levels and expansive manufacturing facility, which allows for high production capacity and efficient logistics.

Is Encore Wire Corp involved in any strategic partnerships?

Yes, Encore Wire Corp engages in strategic partnerships with key players in the electrical distribution market to bolster its market position.

What markets does Encore Wire Corp serve?

Encore Wire Corp serves the residential, commercial, and industrial markets, providing electrical building wire for homes, apartments, industrial complexes, and commercial buildings.

What innovations has Encore Wire Corp introduced?

Encore Wire Corp has introduced innovations like award-winning colored wire and the SmartColorID identification system for enhanced safety and cost savings.

What is the financial condition of Encore Wire Corp?

Encore Wire Corp has shown robust financial performance with strong revenue streams, continually reinvesting in manufacturing technology to maintain its competitive edge.

Encore Wire Corporation

Nasdaq:WIRE

WIRE Rankings

WIRE Stock Data

4.58B
15.80M
7.45%
102.62%
4.78%
Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Wholesale Trade
Link
United States of America
MCKINNEY