Fully diluted net earnings per common share were $26.22 for the year ended Decemversus $3.68 in the same period in 2020.Īluminum wire represented 10.5% and 8.3%, respectively, of our net sales in the quarter and year ended December 31, 2021. Net income for the year ended Decemwas $541.4 million versus $76.1 million in the same period in 2020. The average selling price of wire per copper pound sold increased 84.7% in the year ended Decemversus the year ended December 31, 2020, while the average cost of copper per pound purchased increased 49.5%. Gross profit percentage for the year ended Decemwas 33.5% compared to 15.2% during the same period in 2020. Copper unit volume, measured in pounds of copper contained in the wire sold, increased 10.8% in the year ended Decemversus the year ended December 31, 2020. Net sales for the year ended Decemwere $2.593 billion compared to $1.277 billion during the same period in 2020. Fully diluted net earnings per common share were $6.91 in the fourth quarter of 2021 versus $1.17 in the fourth quarter of 2020. Net income for the fourth quarter of 2021 was $141.6 million versus $24.1 million in the fourth quarter of 2020. The average selling price of wire per copper pound sold increased 70.5% in the fourth quarter of 2021 versus the fourth quarter of 2020, while the average cost of copper per pound purchased increased 36.4%. Gross profit percentage for the fourth quarter of 2021 was 34.2% compared to 15.4% in the fourth quarter of 2020. Copper unit volume, measured in pounds of copper contained in the wire sold, increased 3.9% in the fourth quarter of 2021 versus the fourth quarter of 2020. Net sales for the fourth quarter ended Decemwere $687.9 million compared to $380.8 million for the fourth quarter of 2020. No long-term debt or borrowings under the revolving credit line MCKINNEY, Texas-( BUSINESS WIRE)-Encore Wire Corporation (NASDAQ Global Select: WIRE) today announced results for the fourth quarter and year ended December 31, 2021.įourth Quarter and Full Year 2021 Highlightsįourth Quarter Earnings per Diluted Share of $6.91 Full Year 2021 Earnings per Diluted Share of $26.22įourth Quarter Net income of $141.6 million Full Year 2021 Net income of $541.4 millionĬopper volume sold increased 3.9% over fourth quarter of 2020 Increased 10.8% over 2020 levelsĬash on hand of $439.0 million as of Decemup from $183.1 million as of December 31, 2020Ĭompany repurchased 82,178 shares in the fourth quarter of 2021 repurchased 475,557 shares for the full year 2021Ĭurrent Ratio of 6.72 as of December 31, 2021
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