Encore Wire Full Year 2023 Earnings: Revenues Beat Expectations, EPS In Line
Encore Wire (NASDAQ:WIRE) Full Year 2023 Results
Key Financial Results
Revenue: US$2.57b (down 15% from FY 2022).
Net income: US$372.4m (down 48% from FY 2022).
Profit margin: 14% (down from 24% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: US$22.07 (down from US$37.47 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Encore Wire Revenues Beat Expectations
Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to grow 1.1% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Electrical industry in the US.
Performance of the American Electrical industry.
The company's shares are up 1.0% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 2 warning signs for Encore Wire you should be aware of, and 1 of them doesn't sit too well with us.
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