Encore Wire (WIRE) Tops Q1 EPS by $5.02
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Encore Wire Reports First Quarter Results; Continued Strong Gross Profit Margins; Highlights Share Repurchases During Quarter
April 28, 2022 5:05 PM EDTMCKINNEY, Texas--(BUSINESS WIRE)-- Encore Wire Corporation (NASDAQ Global Select: WIRE) today announced results for the first quarter of 2022.
First Quarter 2022 Highlights
First Quarter Earnings per diluted share of $7.96 First Quarter Net income of $161.5 million Gross profit margin abatement remained gradual in the first quarter of 2022 Gross profit of 33.7% in first quarter of 2022; 34.2% in fourth quarter of 2021 Copper volume sold increased 8.6% over first quarter of 2021; increased 2.8% over fourth quarter of 2021 Cash on hand of $466.1 million as of March 31, 2022 Company repurchased 500,917 shares during... More