Insteel Industries Reports Fourth Quarter and Fiscal 2024 Results
Insteel Industries, Inc. (IIIN)
US:NASDAQ Investor Relations:
investor.insteel.com
Company Research
Source: Business Wire
MOUNT AIRY, N.C.--(BUSINESS WIRE)--Insteel Industries Inc. (NYSE: IIIN) (“Insteel” or the “Company”), the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications, today announced financial results for its fourth quarter and fiscal year ended September 28, 2024.Fourth Quarter 2024 HighlightsNet sales of $134.3 millionGross profit of $12.3 million, or 9.1% of net salesNet income of $4.7 million, or $0.24 per shareOperating cash flow of $16.2 millionNet cash balance of $111.5 million and no debt outstanding as of September 28, 2024Improving business outlookFourth Quarter 2024 ResultsNet earnings for the fourth quarter of fiscal 2024 were $4.7 million, or $0.24 per share, compared to $5.6 million, or $0.29 per share, in the same period a year ago. Insteel’s fourth quarter results were unfavorably impacted by narrower spreads between selling prices and raw material costs relative to the prior year quarter, along with lower shipments.Net s
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News
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- Insteel Industries, Inc. (NASDAQ: IIIN) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Insteel Industries acquires assets of Engineered Wire Products [Seeking Alpha]Seeking Alpha
IIIN
Earnings
- 10/17/24 - In-Line
IIIN
Sec Filings
- 11/18/24 - Form 8-K
- 11/12/24 - Form 8-K
- 10/24/24 - Form 10-K
- IIIN's page on the SEC website