Encore Wire Corporation (NASDAQ:WIRE) Q2 2022 Earnings Conference Call July 26, 2022 11:00 AM ET

Company Participants

Bret Eckert - CFO

Daniel Jones - President, CEO and Chairman of the Board

Conference Call Participants

Brent Thielman - D.A. Davidson

Julio Romero - Sidoti & Company

Bill Baldwin - Baldwin Anthony Securities

Operator

Welcome to the Encore Wire Reports Second Quarter 2022 Results Conference Call. My name is Richard, and I'll be your operator for today's call. [Operator Instructions] As a reminder, this conference is being recorded.

I will now turn the call over to Bret Eckert. Mr. Eckert, you may begin.

Bret Eckert

Thanks, Richard. Good morning, and welcome to the Encore Wire Corporation quarterly conference call. My name is Bret Eckert, Chief Financial Officer of Encore Wire. With me this morning is Daniel Jones, President, CEO and Chairman of the Board. In a minute, we will review Encore's financial results for the second quarter ended June 30, 2022. After the financial review, we will take any questions you may have.

Before we review the financials, let me indicate that throughout this conference call, we may be making certain statements that might be considered to be forward-looking. In order to comply with certain securities legislation and instead of attempting to identify each particular statement as forward-looking, we advise you that all such statements involve certain risks and uncertainties that could cause actual results to differ materially from those discussed today.

I refer each of you to the company's SEC reports and news releases for a more detailed discussion of these risks and uncertainties. Also, reconciliations of non-GAAP financial measures discussed during this conference call to the most directly comparable financial measures presented in accordance with GAAP, including EBITDA, which we believe to be useful supplemental information for investors are posted on our website.

I'll now turn the call over to Daniel for some opening remarks. Daniel?

Daniel Jones

Good morning, everyone, and thank you for joining us on the call and for your interest in Encore Wire. We appreciate your continued investment, confidence and support.

The results for the second quarter of 2022 established another high watermark both financially and operationally for Encore Wire. Our continued strong earnings in 2022 validate that our single-site campus model is a strategic competitive advantage in the market today, giving us unmatched flexibility to quickly pivot and adapt to ever-changing market dynamics.

Our manufacturing scale and flexibility, coupled with our value-added services continue to drive job site efficiency. Stable demand, coupled with global uncertainties, persistent tightness and availability of certain raw materials and the general inability of the sector to meet demand for the timely delivery of finished goods kept spreads strong throughout the first half of 2022.