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ENCORE WIRE® Exhibit 99.1 972-562-9473 PRESS RELEASE April 27 , 2021 Contact : Bret J. Eckert Chief Financial Officer ENCORE WIRE REPORTS FIRST QUARTER RESULTS , ENHANCES LIQUIDITY AND MAINTAINS BALANCE SHEET STRENGTH McKinney , TX - Encore Wire Corporation ( NASDAQ Global Select : WIRE ) today announced results for the first quarter of 2021 . First Quarter 2021 Highlights Earnings per diluted share of $ 1.99 • Net income of $ 41.2 million • Cash on hand of $ 155.0 million as of March 31 , 2021 • Current Ratio of 5.06 as of March 31 , 2021 • No long - term debt and revolving credit line paid down to zero The Company's Board of Directors has declared a quarterly dividend of $ 0.02 per share Net sales for the first quarter ended March 31 , 2021 were $ 444.1 million compared to $ 302.8 million for the first quarter of 2020. Copper unit volume , measured in pounds of copper contained in the wire sold , increased 1.1 % in the first quarter of 2021 versus the first quarter of 2020 . Gross profit percentage for the first quarter of 2021 was 19.0 % compared to 15.1 % in the first quarter of 2020. The average selling price of wire per copper pound sold increased 46.8 % in the first quarter of 2021 versus the first quarter of 2020 , while the average cost of copper per pound purchased increased 47.3 % . Net income for the first quarter of 2021 was $ 41.2 million versus $ 18.6 million in the first quarter of 2020. Fully diluted net earnings per common share were $ 1.99 in the first quarter of 2021 versus $ 0.89 in the first quarter of 2020 . On a sequential quarter comparison , net sales for the first quarter of 2021 were $ 444.1 million versus $ 380.8 million during the fourth quarter of 2020. Sales dollars increased due to a 20.4 % increase in the average selling price per pound of copper wire sold , offset by a 1.8 % unit volume decrease of copper building wire sold on a sequential quarter comparison . Gross profit percentage for the first quarter of 2021 was 19.0 % compared to 15.4 % in the fourth quarter of 2020. Copper wire sales prices increased 20.4 % , while the price of copper purchased increased 18.8 % . Net income for the first quarter of 2021 was $ 41.2 million versus $ 24.1 million in the fourth quarter of 2020. Fully diluted net income per common share was $ 1.99 in the first quarter of 2021 versus $ 1.17 in the fourth quarter of 2020 . Aluminum wire represented 7.5 % of our net sales in the three month period ended March 31 , 2021 . Commenting on the results , Daniel L. Jones , Chairman , President and Chief Executive Officer of Encore Wire Corporation , said , " The outstanding results posted in the first quarter ended March 31 , 2021 , highlight the advantage of our one - location business model and strong management team in place at Encore . During the first quarter of 2021 our team successfully navigated extreme weather in February , while ensuring a consistent flow of raw materials throughout the quarter to keep our manufacturing facilities fully operational . Copper unit volumes increased 1.1 % on a comparative quarter basis but decreased 1.8 % on a sequential quarter basis . Volumes