We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Zacks Consensus Estimate for the company’s first-quarter earnings has remained steady in the past 60 days. However, WIRE has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 147%.
Let’s see how things have shaped up for Encore Wire this earnings season.
Higher volumes and an increase in aluminum spreads are likely to have aided WIRE’s first-quarter performance. Increased aluminum and copper unit volumes are expected to have driven the company’s top line in the to-be-reported quarter.
The deceleration in raw material prices is expected to have supported the bottom-line performance. Improved supply chains are also expected to have aided performance.
However, a decrease in copper spreads due to lower prices might have affected Encore Wire’s fourth-quarter performance.
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, which is 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 $5.44.
Zacks Rank: Encore Wire currently carries a Zacks Rank #3.
Highlights of Q4 Earnings
In fourth-quarter 2022, Encore Wire reported earnings of $8.28 per share, which surpassed the Zacks Consensus Estimate of $4.61. The bottom line jumped 19.8% year over year, while the top line inched up approximately 1%.
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.
The Zacks Consensus Estimate for A. O. Smith’s first-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 3.2%, on average.
Graco Inc. (GGG - Free Report) has an Earnings ESP of +2.44% and a Zacks Rank #3. The company is slated to release first-quarter 2023 results on Apr 26.
The Zacks Consensus Estimate for Graco’s first-quarter earnings has remained steady in the past 60 days. The company delivered a trailing four-quarter earnings surprise of 0.2%, on average.
Image: Bigstock
Here's What to Expect From Encore Wire (WIRE) in Q1 Earnings
Encore Wire Corporation (WIRE - Free Report) is scheduled to release first-quarter 2023 results on Apr 25, after market close.
The Zacks Consensus Estimate for the company’s first-quarter earnings has remained steady in the past 60 days. However, WIRE has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 147%.
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 and an increase in aluminum spreads are likely to have aided WIRE’s first-quarter performance. Increased aluminum and copper unit volumes are expected to have driven the company’s top line in the to-be-reported quarter.
The deceleration in raw material prices is expected to have supported the bottom-line performance. Improved supply chains are also expected to have aided performance.
However, a decrease in copper spreads due to lower prices might have affected Encore Wire’s fourth-quarter performance.
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, which is 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 $5.44.
Zacks Rank: Encore Wire currently carries a Zacks Rank #3.
Highlights of Q4 Earnings
In fourth-quarter 2022, Encore Wire reported earnings of $8.28 per share, which surpassed the Zacks Consensus Estimate of $4.61. The bottom line jumped 19.8% year over year, while the top line inched up approximately 1%.
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.
A. O. Smith (AOS - Free Report) has an Earnings ESP of +10.19% and a Zacks Rank #3. The company is scheduled to release first-quarter 2023 results on Apr 27. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for A. O. Smith’s first-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 3.2%, on average.
Graco Inc. (GGG - Free Report) has an Earnings ESP of +2.44% and a Zacks Rank #3. The company is slated to release first-quarter 2023 results on Apr 26.
The Zacks Consensus Estimate for Graco’s first-quarter earnings has remained steady in the past 60 days. The company delivered a trailing four-quarter earnings surprise of 0.2%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.