Insteel Industries Inc. (IIIN.OB) reported a profit for its first quarter that Increased, from last year
The company's bottom line totaled $7.593 million, or $0.39 per share. This compares with $1.081 million, or $0.06 per share, last year.
The company's revenue for the period rose 23.3% to $159.924 million from $129.720 million last year.
Insteel Industries Inc. earnings at a glance (GAAP) :
-Earnings: $7.593 Mln. vs. $1.081 Mln. last year.-EPS: $0.39 vs. $0.06 last year.-Revenue: $159.924 Mln vs. $129.720 Mln last year.
The company said: “Insteel’s first quarter results were driven by stronger demand for the company’s concrete reinforcement products, which supported wider spreads between selling pricing and raw material costs.”
H.O. Woltz III, CEO of Insteel, said: “While forecasters have raised questions surrounding future construction activity, we continue to experience positive customer sentiment and expect 2026 to offer solid opportunity for Insteel. The downward trajectory of interest rates, together with contributions from our recent investments, causes us to be optimistic about our prospects. With that said, we remain concerned about the significant steel price premium in the U.S. relative to the global market, and we expect finished products markets exposed to imports to remain highly competitive. As we have stated previously, only about 10% of our revenues are directly affected by import competition."
IIIN was down by 2.26% at $32.94 in the pre-market trade on the New York Stock Exchange.
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