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Encore wire1/22/2024 The average selling price of wire per copper pound sold decreased 14.1% in the fourth quarter of 2022 versus the fourth quarter of 2021, while the average cost of copper per pound purchased decreased 14.4%. Gross profit percentage for the fourth quarter of 2022 was 35.8% compared to 34.2% in the fourth quarter of 2021. Copper unit volume, measured in pounds of copper contained in the wire sold, increased 7.9% in the fourth quarter of 2022 versus the fourth quarter of 2021. ![]() Net sales for the fourth quarter ended Decemwere $693.9 million compared to $687.9 million for the fourth quarter of 2021. Fully diluted net earnings per common share were $36.91 for the year ended Decemversus $26.22 in the same period in 2021. Net income for the year ended Decemwas $717.8 million versus $541.4 million in the same period in 2021. The overall increase in total volumes shipped, along with an increase in aluminum spreads during 2022, resulted in the increased gross profit margin for the full year of 2022 when compared to 2021. ![]() The average selling price of wire per copper pound sold decreased 0.5% in the year ended Decemversus the year ended December 31, 2021, while the average cost of copper per pound purchased decreased 2.7%. Gross profit percentage for the year ended Decemwas 36.9% compared to 33.5% during the same period in 2021. Copper unit volume, measured in pounds of copper contained in the wire sold, increased 7.9% in the year ended Decemversus the year ended December 31, 2021. Net sales for the year ended Decemwere $3.018 billion compared to $2.593 billion during the same period in 2021.
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