Encore's net slides due to tighter wire margins

Jul 28, 2014 | 10:00 AM | Saranya Kapur

Tags  Encore Wire, Daniel Jones, copper wire, copper prices, aluminum wire, Saranya Kapur

NEW YORK — Encore Wire Corp.’s second-quarter earnings fell 34.5 percent year on year even as sales rose 6.1 percent.

Net income totaled $10.1 million for the quarter on sales of $307.1 million.

"The ‘spread’ between the price of copper wire sold and the cost of raw copper decreased 9.9 percent in the second quarter of 2014 vs. the second quarter of 2013, while our copper unit volume shipped in the second quarter....

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