Encore Wire (WIRE) Quarterly Income Statement

Income Statement Summary

Encore Wire (WIRE) quarterly income statement covering the six quarters from December 2022 to March 2024, as reported to the SEC.

Encore Wire reported net sales of $632.66M in the quarter ended March 31, 2024, down 4.2% from $660.49M a year earlier.
That is 0.18% lower than the December 2023 quarter.
Gross profit was $135.99M, down 33.7% from $205.09M. That is a gross margin of 21.5%.
Operating income was $74.9M, down 48.8% from $146.38M. Operating margin was 11.8%.
Net income was $63.28M, down 47% from $119.48M. Net margin was 10%.
Diluted earnings per share was $3.92, down 39.7% from $6.50.
Cost of goods sold took 78.5% of net sales and selling, general, and administrative expenses 9.7%.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Mar'24	Dec'23	Sep'23	Jun'23	Mar'23	Dec'22
Net sales
632,661	633,779	636,991	636,460	660,492	693,885	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net sales						632,661	633,779	636,991	636,460	660,492	693,885	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of goods sold
496,672	497,371	488,749	470,312	455,407	445,430	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of goods sold						496,672	497,371	488,749	470,312	455,407	445,430	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit
135,989	136,408	148,242	166,148	205,085	248,455	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit						135,989	136,408	148,242	166,148	205,085	248,455	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general, and administrative expenses
61,088	56,856	50,279	38,671	58,704	55,510	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general, and administrative expenses						61,088	56,856	50,279	38,671	58,704	55,510	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income
74,901	79,552	97,963	127,477	146,381	192,945	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income						74,901	79,552	97,963	127,477	146,381	192,945	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net interest and other income
7,330	7,426	8,601	8,067	9,174	5,998	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net interest and other income						7,330	7,426	8,601	8,067	9,174	5,998	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income taxes
82,231	86,978	106,564	135,544	155,555	198,943	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income taxes						82,231	86,978	106,564	135,544	155,555	198,943	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income taxes
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income taxes						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for income taxes
18,954	20,855	24,512	30,803	36,072	44,944	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for income taxes						18,954	20,855	24,512	30,803	36,072	44,944	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income
63,277	66,123	82,052	104,741	119,483	153,999	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income						63,277	66,123	82,052	104,741	119,483	153,999	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per common and common equivalent share - basic (in usd per share)
4.02	4.41	4.93	6.13	6.60	8.44	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per common and common equivalent share - basic (in usd per share)						4.02	4.41	4.93	6.13	6.60	8.44	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per common and common equivalent share - diluted (in usd per share)
3.92	4.29	4.82	6.01	6.50	8.27	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per common and common equivalent share - diluted (in usd per share)						3.92	4.29	4.82	6.01	6.50	8.27	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average common and common equivalent shares outstanding - basic (in shares)
15,738	15,662	16,638	17,093	18,099	18,246	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average common and common equivalent shares outstanding - basic (in shares)						15,738	15,662	16,638	17,093	18,099	18,246	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average common and common equivalent shares outstanding - diluted (in shares)
16,143	16,085	17,007	17,431	18,369	18,573	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average common and common equivalent shares outstanding - diluted (in shares)						16,143	16,085	17,007	17,431	18,369	18,573	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash dividends declared per share (in usd per share)
0.02	0.02	0.02	0.02	0.02	0.02	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash dividends declared per share (in usd per share)						0.02	0.02	0.02	0.02	0.02	0.02	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx