ENCORE WIRE CORP
encorewire.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed Apr 25, 2024. Its latest SEC filing is a SC 13G/A from Oct 31, 2024.
10-Q for Q1 FY2024, filed Apr 25, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Manufactures electrical building wire and cable for wholesale electrical distributors serving residential, commercial and industrial customers.
10-K for FY2023, filed Feb 16, 2024The Company manufactures a broad range of electrical wire and cables, used to distribute power from the transmission grid to the wall…View ↗
The Company sells its products through manufacturers’ representatives to wholesale electrical distributors servicing the residential…View ↗
Encore offers an electrical building wire product line that consists primarily of NM-B cable, UF-B cable, THHN/THWN-2, XHHW-2, USE-2…View ↗
How Did They Make Money?
Wholesale electrical distributors pay for ordered wire and cable, typically on short-term payment terms. Payment is due after the products are shipped to the customer.
$2.6B
-
10-K for FY2023, filed Feb 17, 2024
$2.6B ↗
Who Were Their Customers?
Wholesale electrical distributors buy Encore’s wire through independent manufacturers’ representatives; most distributors then supply electrical contractors. Encore invoices customers directly for their purchases.
10-K for FY2023, filed Feb 16, 2024The Company sells its products through manufacturers’ representatives to wholesale electrical distributors servicing the residential…View ↗
Encore sells its wire to wholesale electrical distributors throughout the United States. Most distributors supply products to electrical…View ↗
Encore markets its products throughout the United States through independent manufacturers’ representatives.View ↗
The Company invoices its customers directly for products purchased and pays the manufacturer's representative a commission based on…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 15 cents of every revenue dollar as net income in FY2023 and turned 11 cents into free cash flow.
10-K for FY2023, filed Feb 17, 2024
$451.4MView ↗
10-K for FY2023, filed Feb 17, 2024
$372.4MView ↗
10-K for FY2023, filed Feb 17, 2024
$290.6MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2024, filed Apr 26, 2024
$63.3MView ↗
- ▼ −47%
- vs $119.5M in Q1 FY2023
-
Jul 2, 2024
Prysmian acquired Encore Wire, which became its wholly owned subsidiary
Encore’s shares ceased trading on Nasdaq, and former shareholders became entitled to $290.00 in cash per share.
Sources
8-K, filed Jul 2, 2024
Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of…View ↗
Grew. Revenue grew 2.0x in 4 years, from $1.3B in FY2019 to $2.6B in FY2023, about 19% a year.
Who Did They Compete With?
Competes with Southwire, Cerrowire, General Cable, and AFC Cable Systems
10-K for FY2023, filed Feb 16, 2024The electrical wire and cable industry is highly competitive. The Company competes with several companies who manufacture and sell wire and…View ↗
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