10-Q Filing

ENCORE WIRE CORP CIK: 850460 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000850460-23-000036`
Period End Date	20230331
Filing Date	20230427
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	wire-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 28 Cash Flow Statement 44 Stockholders Equity 26

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.80M	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.80M	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$697.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$730.56M	USD	Point-in-time
Accounts receivable, net of allowance of $3,800 and $3,800	`AccountsReceivableNetCurrent`	$479.83M	USD	Point-in-time
Accounts receivable, net of allowance of $3,800 and $3,800	`AccountsReceivableNetCurrent`	$498.76M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$153.19M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$173.88M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$15.14M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	27.14M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$2.48M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$3.99M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	27.24M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	9.70M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	9.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.40B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.35B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$616.60M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$642.45M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$490.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$541.00K	USD	Point-in-time
Total assets	`Assets`	$2.02B	USD	Point-in-time
Total assets	`Assets`	$2.00B	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$62.78M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$41.59M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$63.97M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$81.38M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$23.61M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$129.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$144.16M	USD	Point-in-time
Deferred income taxes and other	`DeferredIncomeTaxLiabilitiesNet`	$53.53M	USD	Point-in-time
Deferred income taxes and other	`DeferredIncomeTaxLiabilitiesNet`	$55.91M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$55.91M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$53.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$200.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$182.70M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock value	`PreferredStockValue`	-	USD	Point-in-time
Common stock value	`CommonStockValue`	$271.00K	USD	Point-in-time
Common stock value	`CommonStockValue`	$272.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$87.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$83.62M	USD	Point-in-time
Treasury stock, at cost 9,702,210 and 8,999,732 shares	`TreasuryStockCommonValue`	$402.64M	USD	Point-in-time
Treasury stock, at cost 9,702,210 and 8,999,732 shares	`TreasuryStockCommonValue`	$530.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.26B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.14B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.34B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.81B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.82B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.44B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.02B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.00B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$660.49M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$723.07M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$479.32M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$455.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$243.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$205.09M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$36.21M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$58.70M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$146.38M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$207.53M	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$9.17M	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$115.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$155.56M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$207.65M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$46.12M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$36.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$119.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$161.53M	USD	1 Quarter
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$6.60	USD	1 Quarter
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$8.08	USD	1 Quarter
Earnings per common and common equivalent share - diluted (in usd per share)	`EarningsPerShareDiluted`	$6.50	USD	1 Quarter
Earnings per common and common equivalent share - diluted (in usd per share)	`EarningsPerShareDiluted`	$7.96	USD	1 Quarter
Weighted average common and common equivalent shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.10M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.00M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.30M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.37M	shares	1 Quarter
Cash dividends declared per share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Cash dividends declared per share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$119.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$161.53M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.69M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.22M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.39M	USD	1 Quarter
Stock-based compensation attributable to equity awards	`ShareBasedCompensation`	$1.94M	USD	1 Quarter
Stock-based compensation attributable to equity awards	`ShareBasedCompensation`	$4.04M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-673.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-186.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-18.93M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$58.28M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$15.52M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$20.69M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$252.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.48M	USD	1 Quarter
Trade accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-24.23M	USD	1 Quarter
Trade accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-41.03M	USD	1 Quarter
Current income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$38.75M	USD	1 Quarter
Current income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$49.34M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$126.94M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$117.71M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.77M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.97M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.77M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.97M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$58.38M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$128.25M	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$317.00K	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$155.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$403.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$367.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-58.63M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-128.30M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-33.13M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$27.10M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$730.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$438.99M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$697.42M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$466.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$730.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$438.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$697.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$466.09M	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared per share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Cash dividends declared per share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Beginning balance	`StockholdersEquity`	$1.34B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.81B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.82B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.44B	USD	Point-in-time
Beginning balance, treasury shares (in shares)	`TreasuryStockCommonShares`	9.70M	shares	Point-in-time
Beginning balance, treasury shares (in shares)	`TreasuryStockCommonShares`	9.00M	shares	Point-in-time
Net income	`NetIncomeLoss`	$119.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$161.53M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$316.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$155.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.94M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$4.04M	USD	1 Quarter
Dividend declared	`DividendsCommonStockCash`	$350.00K	USD	1 Quarter
Dividend declared	`DividendsCommonStockCash`	$394.00K	USD	1 Quarter
Purchase of treasury stock (in shares)	`TreasuryStockSharesAcquired`	500,917.00	shares	1 Quarter
Purchase of treasury stock (in shares)	`TreasuryStockSharesAcquired`	702,478.00	shares	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$58.38M	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$128.25M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$1.34B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.81B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.82B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.44B	USD	Point-in-time
Ending balance, treasury shares (in shares)	`TreasuryStockCommonShares`	9.70M	shares	Point-in-time
Ending balance, treasury shares (in shares)	`TreasuryStockCommonShares`	9.00M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.