Encore Wire's Suppliers recorded an increase in sales by 3.88 % year on year in Q1 2024, from the previous quarter, sales fell by -39.99 %, Encore Wire recorded an increase in cost of sales by 8.91 % year on year, relative to one quarter ago cost of sales fell by -0.28 % in Q1.
Encore Wire's Suppliers recorded an increase in sales by 3.88 % year on year in Q1 2024, from the previous quarter, sales fell by -39.99 %, Encore Wire recorded increase in cost of sales by 8.91 % year on year, compare to one quarter ago cost of sales fell by -0.28 % in Q1.
Encore's principal raw materials include copper cathode, copper scrap, PVC thermoplastic compounds, XLPE compounds, aluminum, steel, paper, and nylon. Copper constitutes 80.8% of the dollar value of raw materials in 2023. The company purchases copper primarily from miners and commodity brokers at prices based on COMEX monthly average daily closing prices plus a negotiated premium. Encore produces copper rod from purchased copper cathode and scrap at its own rod fabrication facility, which supplied the majority of copper rod requirements in 2023. Aluminum rod is sourced from various suppliers. The company compounds its own wire jacket and insulation compounds using PVC resin, clay, and plasticizer, with its plastic compounding facility producing most PVC requirements in the past year.
Encore Wire's Comment on Supply Chain
Encore's principal raw materials include copper cathode, copper scrap, PVC thermoplastic compounds, XLPE compounds, aluminum, steel, paper, and nylon. Copper constitutes 80.8% of the dollar value of raw materials in 2023. The company purchases copper primarily from miners and commodity brokers at prices based on COMEX monthly average daily closing prices plus a negotiated premium. Encore produces copper rod from purchased copper cathode and scrap at its own rod fabrication facility, which supplied the majority of copper rod requirements in 2023. Aluminum rod is sourced from various suppliers. The company compounds its own wire jacket and insulation compounds using PVC resin, clay, and plasticizer, with its plastic compounding facility producing most PVC requirements in the past year.
WIRE's Suppliers Net profit fell by
WIRE's Suppliers Net margin fell in Q1 to
-36.2 %
11.44 %
WIRE's Suppliers Net profit fell by -36.2 %
WIRE's Suppliers Net margin fell in Q1 to 11.44 %
Encore Wire's Suppliers Sales Growth
in Q1 2024 by Industry
Sources:
Encore Wire Corp's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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