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The Zacks Consensus Estimate for the company’s fourth-quarter earnings has remained steady in the past 60 days. The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 173%.
Let’s see how things have shaped up for Encore Wire this earnings season.
Higher volumes owing to continued demand for data center, healthcare and renewable product solutions are expected to have buoyed Encore Wire’s fourth-quarter performance.
Increase in copper wire unit volumes shipped is expected to have boosted the top line. Aluminum net sales are likely to reflect higher revenues on the back of an increase in price and volumes shipped.
However, high raw material costs and supply-chain disruptions might have dented the bottom line and hurt margins. WIRE’s cost-reduction initiatives and pricing actions are likely to have partly offset this adversity.
Earnings Whispers
The proven Zacks model does not conclusively predict an earnings beat for Encore Wire this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
But that’s not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Encore Wire is 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $4.61.
In third-quarter 2022, Encore Wire reported earnings of $9.97 per share, which surpassed the Zacks Consensus Estimate of $4.63. While the bottom line increased 17.2% year over year, the top line jumped 6.4%.
Stocks to Consider
Here are some companies within the broader Industrial Products sector that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.
Allegion plc (ALLE - Free Report) has an Earnings ESP of +4.19% and a Zacks Rank #2. The company is set to release fourth-quarter results on Feb 22.
The Zacks Consensus Estimate for Allegion’s fourth-quarter earnings has been revised downward by 2.8% in the past 60 days. However, the company pulled off a trailing four-quarter earnings surprise of 8.8%, on average.
AptarGroup (ATR - Free Report) has an Earnings ESP of +3.28% and a Zacks Rank #3. The company is scheduled to release fourth-quarter 2022 results on Feb 16.
The Zacks Consensus Estimate for AptarGroup’s fourth-quarter earnings has been revised upward by a penny in the past 60 days. The company pulled off a trailing four-quarter earnings surprise of 0.8%, on average.
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What's in the Offing for Encore Wire (WIRE) in Q4 Earnings?
Encore Wire Corporation (WIRE - Free Report) is scheduled to release fourth-quarter 2022 results on Feb 14, after market close.
The Zacks Consensus Estimate for the company’s fourth-quarter earnings has remained steady in the past 60 days. The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 173%.
Let’s see how things have shaped up for Encore Wire this earnings season.
Encore Wire Corporation Price and EPS Surprise
Encore Wire Corporation price-eps-surprise | Encore Wire Corporation Quote
Factors to Note
Higher volumes owing to continued demand for data center, healthcare and renewable product solutions are expected to have buoyed Encore Wire’s fourth-quarter performance.
Increase in copper wire unit volumes shipped is expected to have boosted the top line. Aluminum net sales are likely to reflect higher revenues on the back of an increase in price and volumes shipped.
However, high raw material costs and supply-chain disruptions might have dented the bottom line and hurt margins. WIRE’s cost-reduction initiatives and pricing actions are likely to have partly offset this adversity.
Earnings Whispers
The proven Zacks model does not conclusively predict an earnings beat for Encore Wire this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
But that’s not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Encore Wire is 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $4.61.
Zacks Rank: Encore Wire currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Highlights of Q3 Earnings
In third-quarter 2022, Encore Wire reported earnings of $9.97 per share, which surpassed the Zacks Consensus Estimate of $4.63. While the bottom line increased 17.2% year over year, the top line jumped 6.4%.
Stocks to Consider
Here are some companies within the broader Industrial Products sector that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.
Allegion plc (ALLE - Free Report) has an Earnings ESP of +4.19% and a Zacks Rank #2. The company is set to release fourth-quarter results on Feb 22.
The Zacks Consensus Estimate for Allegion’s fourth-quarter earnings has been revised downward by 2.8% in the past 60 days. However, the company pulled off a trailing four-quarter earnings surprise of 8.8%, on average.
AptarGroup (ATR - Free Report) has an Earnings ESP of +3.28% and a Zacks Rank #3. The company is scheduled to release fourth-quarter 2022 results on Feb 16.
The Zacks Consensus Estimate for AptarGroup’s fourth-quarter earnings has been revised upward by a penny in the past 60 days. The company pulled off a trailing four-quarter earnings surprise of 0.8%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.