Encore Wire Corp reports results for the quarter ended in March - Earnings Summary

Encore Wire

23/04/2024 23:44

* Encore Wire Corp  WIRE.OQ  reported quarterly adjusted
earnings
of $3.92​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of
$6.50.  The mean expectation of three analysts for the quarter
was for earnings of $3.71 per share. Wall Street expected
results to range from $3.51  to $3.91 per share.
    * Revenue fell 4.2% to $632.66 million from a year ago;
analysts
expected $589.85 million. 
    * Encore Wire Corp's reported EPS for the quarter was
$3.92​.
    * The company reported quarterly net income of $63.28
million.
    * Encore Wire Corp shares had risen by 7.7% this quarter and
gained 32.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.1%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is also "hold"

Wall Street's median 12-month price target for Encore Wire Corp
is $290.00 
This summary was machine generated from LSEG data April 23 at
10:44 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      3.71           3.92           Beat
 Dec. 31 2023      4.02           4.10           Beat
 Sep. 30 2023      4.66           4.82           Beat
 Jun. 30 2023      6.48           6.01           Missed