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Encore Wire Corp. - WIRE STOCK NEWS

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Encore Wire's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Encore Wire's position in the market.

News
Encore Wire Reports First Quarter Results
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
-- %
Tags
earnings
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News
Encore Wire to Be Acquired by Prysmian for $290.00 Per Share in Cash
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
acquisition
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News
Encore Wire Announces Cash Dividend
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
News
Encore Wire Reports Strong Fourth Quarter and Full Year 2023 Results
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
earnings
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News
Encore Wire Announces Earnings Release Date and Conference Call Details
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
earnings
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News
Encore Wire Announces Cash Dividend
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
News
Encore Wire Reports Strong Third Quarter Results; Highlights Increased Volumes; Continued Share Repurchases During Quarter
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
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News
Encore Wire Announces Earnings Release Date and Conference Call Details
Rhea-AI Summary
Encore Wire Corporation to release third quarter 2023 earnings
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
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News
Encore Wire Announces Cash Dividend
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
News
Encore Wire Reports Strong Second Quarter Results; Highlights Share Repurchases During Quarter; Board Increases Share Repurchase Authorization
Rhea-AI Summary
Encore Wire Corporation announces second quarter 2023 results with earnings per diluted share of $6.01 and net income of $104.7 million. Gross profit was 26.1% in Q2 2023, and the company had $667.8 million in cash on hand as of June 30, 2023. Additionally, the company repurchased 772,931 shares during the quarter.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.94%
Tags
buyback earnings
Stock WIRE logo
Encore Wire Corp.

Nasdaq:WIRE

WIRE Rankings

#1269 Ranked by Market Cap
#689 Ranked by Stock Gains
#2102 Ranked by Dividends

WIRE Stock Data

4.12B
15.00M
6.62%
106.13%
19.17%
Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Wholesale Trade
Link
United States
McKinney

About WIRE

encore wire (www.encorewire.com) is a leading manufacturer of residential, commercial and industrial copper and aluminum electrical building wire. encore wire’s 425-acre single-campus and over 2.1 million sq. ft. under roof allows for deep inventory levels and unmatched delivery times. our innovative wire pulling solutions, award-winning colored wire and metal-clad and armored clad smartcolorid identification system promote cost and labor savings and safety.