2/29/2024 0 Comments Oncor wireAluminum unit volumes increased on both a comparative quarter and annual basis over 2020 levels.Ĭommenting on the results, Daniel L. Fully diluted net earnings per common share were $26.22 for the year ended Decemversus $3.68 in the same period in 2020.Īluminum wire represented 10.5% and 8.3%, respectively, of our net sales in the quarter and year ended December 31, 2021. Net income for the year ended Decemwas $541.4 million versus $76.1 million in the same period in 2020. The average selling price of wire per copper pound sold increased 84.7% in the year ended Decemversus the year ended December 31, 2020, while the average cost of copper per pound purchased increased 49.5%. Gross profit percentage for the year ended Decemwas 33.5% compared to 15.2% during the same period in 2020. Copper unit volume, measured in pounds of copper contained in the wire sold, increased 10.8% in the year ended Decemversus the year ended December 31, 2020. Net sales for the year ended Decemwere $2.593 billion compared to $1.277 billion during the same period in 2020. Fully diluted net earnings per common share were $6.91 in the fourth quarter of 2021 versus $1.17 in the fourth quarter of 2020. Net income for the fourth quarter of 2021 was $141.6 million versus $24.1 million in the fourth quarter of 2020. The average selling price of wire per copper pound sold increased 70.5% in the fourth quarter of 2021 versus the fourth quarter of 2020, while the average cost of copper per pound purchased increased 36.4%. Gross profit percentage for the fourth quarter of 2021 was 34.2% compared to 15.4% in the fourth quarter of 2020. Copper unit volume, measured in pounds of copper contained in the wire sold, increased 3.9% in the fourth quarter of 2021 versus the fourth quarter of 2020. Net sales for the fourth quarter ended Decemwere $687.9 million compared to $380.8 million for the fourth quarter of 2020. No long-term debt or borrowings under the revolving credit line Our products are proudly made in America at our vertically-integrated, single-site, Texas campus.MCKINNEY, Texas-( BUSINESS WIRE)-Encore Wire Corporation (NASDAQ Global Select: WIRE) today announced results for the fourth quarter and year ended December 31, 2021.įourth Quarter and Full Year 2021 Highlightsįourth Quarter Earnings per Diluted Share of $6.91 Full Year 2021 Earnings per Diluted Share of $26.22įourth Quarter Net income of $141.6 million Full Year 2021 Net income of $541.4 millionĬopper volume sold increased 3.9% over fourth quarter of 2020 Increased 10.8% over 2020 levelsĬash on hand of $439.0 million as of Decemup from $183.1 million as of December 31, 2020Ĭompany repurchased 82,178 shares in the fourth quarter of 2021 repurchased 475,557 shares for the full year 2021Ĭurrent Ratio of 6.72 as of December 31, 2021 The Company focuses on maintaining a low-cost of production while providing exceptional customer service, quickly shipping complete orders coast-to-coast. ![]() I look forward to his input as we continue our growth as a company.”Įncore Wire Corporation is a leading manufacturer of a broad range of copper and aluminum electrical wire and cables, supplying power generation and distribution solutions to meet our customers’ needs today and in the future. He has a long track record of leadership as a distinguished operating executive and will bring valuable experience, diversity, wisdom and leadership that will be immediately accretive to the Encore Wire Board. Jones, Chairman, President and Chief Executive Officer of Encore Wire Corporation, said, “We are thrilled that Kelvin is joining the Encore Wire Board. Walker currently serves on the board of directors of Oncor Electric Delivery and Reflekt Me, as well as various non-profit organizations.Ĭommenting on the appointment, Daniel L. Prior to that, he was a Managing Partner of 21st Century Group, LLC, a private equity firm, from January 1999 to June 2015. Walker served as a Managing Director of RLJ Equity Partners LLC, a private equity fund, from July 2015 to March 2019. Prior to joining the Dallas Citizens Council, Mr. ![]() Walker has served since March 2019 as Chief Executive Officer of the Dallas Citizens Council, a non-profit organization made up of over 150 chief executive officers and other top business leaders in North Texas that focuses on advancing public policy issues impacting the Dallas area. Walker to serve on the Audit Committee, the Nominating and Corporate Governance Committee, the Sustainability Committee, and the Compensation Committee. Walker is being made to fill the vacancy on the Board caused by the resignation of Gregory J. ![]() ![]() Kelvin Walker as a director of Encore Wire Corporation effective August 24, 2022. MCKINNEY, Texas-( BUSINESS WIRE)-Encore Wire Corporation (NASDAQ Global Select: WIRE) today announced that the Board of Directors has acted unanimously and appointed W.
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