Brief: Encore Wire Reports Q2 Earnings Per Share Of $0.85

Encore Wire

30/07/2019 22:20

July 30 (Reuters) - Encore Wire Corp  WIRE.O :
    * ENCORE WIRE REPORTS SECOND QUARTER RESULTS
    * Q2 EARNINGS PER SHARE $0.85
    * Q2 SALES $336.9 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$330.4
MILLION
    * Q2 EARNINGS PER SHARE ESTIMATE $0.87 -- REFINITIV IBES
DATA
    * COPPER UNIT VOLUME INCREASED 5.6% IN Q2 OF 2019 VERSUS Q2
OF
2018
    * AVERAGE SELLING PRICE OF WIRE PER COPPER POUND SOLD
DECREASED
6.1% IN Q2 OF 2019 VERSUS Q2 OF 2018
    * COPPER SPREAD DECREASED 0.4% IN Q2 OF 2019
    * ENCORE WIRE - PLANS FOR SIGNIFICANT CAPEX DELAYED BY
ISSUES
ARISING DUE TO PROPOSED NEW HIGHWAY PROJECT WHICH MAY BISECT
CO'S PROPERTY
    * U.S. ECONOMY APPEARS STRONG, AS IS CONSTRUCTION ACTIVITY
    * BELIEVE THERE IS A GOOD OUTLOOK FOR CONSTRUCTION PROJECTS
FOR
NEXT YEAR

Source text for Eikon:  ID:nBw8psd4ba 
Further company coverage:  WIRE.O 

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