Cables and wires manufacturer Encore Wire (NASDAQ:WIRE) is expected to be reporting earnings tomorrow afternoon. Here’s what investors should know.
Encore Wire beat analysts’ revenue expectations by 7.3% last quarter, reporting revenues of $632.7 million, down 4.2% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ earnings estimates.
Is Encore Wire a buy or sell going into earnings? Read our full analysis here, it’s free.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Encore Wire has missed Wall Street’s revenue estimates twice over the last two years.
With Encore Wire being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for electrical equipment stocks. However, investors in the segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month.
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