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Insteel Industries (IIIN)
NYSE:IIIN
Earnings Data
Report Date
Apr 17, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
0.29Last Year’s EPS
0.35Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 16, 2025
|% Change Since: -2.82%
|Next Earnings Date:Apr 17, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a balanced view of Insteel Industries' performance, with significant improvements in shipments, gross profit, and successful acquisitions juxtaposed with challenges like declining average selling prices, increased costs, and tariff-related issues. The company maintains a strong financial position, which provides flexibility for future growth.Company Guidance
During the earnings call for the first quarter of 2025, Insteel Industries reported net earnings of $1.1 million, or $0.06 per share, with adjusted net earnings at $0.10 per share after accounting for nonrecurring charges. Shipments for the quarter increased by 11.4% year-over-year but declined 4.5% sequentially, reflecting seasonal trends. The company also saw average selling prices decline by 4.3% year-over-year, though they rose 1.1% sequentially. Gross profit improved to $9.5 million, up from $6.3 million the previous year, with gross margins expanding by 210 basis points to 7.3%. SG&A expenses rose by $1.5 million to $7.9 million, and the company recorded $700,000 in restructuring charges. Insteel Industries made two acquisitions during the quarter, impacting gross margins by 110 basis points due to inventory revaluation. The effective tax rate decreased slightly to 26.1%, and cash flow from operations generated $19 million. Capital expenditures for the quarter were $2.7 million, with a full-year target of $22 million. The company returned $19.4 million to shareholders through dividends and repurchased $617,000 in shares. In terms of macroeconomic indicators, the Architectural Billing Index (ABI) remained negative, although the Dodge Momentum Index showed improvement.Increased Shipments and Demand
Shipments for the first quarter increased 11.4% year-over-year despite a typical seasonal slowdown. This was driven by increased order activity across commercial and infrastructure markets and the acquisitions of Engineered Wire Products and O’Brien Wire Products.
Improved Gross Profit and Margins
Gross profit improved to $9.5 million from $6.3 million a year ago, with gross margin expanding 210 basis points to 7.3% from 5.2%.
Successful Acquisitions
Two acquisitions were made during the quarter, expected to deliver solid returns. Integrations were completed quickly and efficiently, contributing to increased shipment volumes.
Cash Flow and Financial Position
Cash flow from operations provided $19 million in the first quarter. The company remains debt-free with $36 million in cash, allowing for significant flexibility.
Special Dividend and Share Buyback
A $1 per share special dividend and a continued share buyback program were executed, returning $19.4 million to shareholders.
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IIIN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IIIN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 16, 2025 | $24.80 | $25.72 | +3.71% |
| Oct 17, 2024 | $28.46 | $27.06 | -4.92% |
| Jul 18, 2024 | $31.09 | $32.00 | +2.93% |
| Apr 25, 2024 | $32.86 | $30.56 | -7.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Insteel Industries (IIIN) report earnings?
Insteel Industries (IIIN) is schdueled to report earning on Apr 17, 2025, TBA Not Confirmed.
What is Insteel Industries (IIIN) earnings time?
Insteel Industries (IIIN) earnings time is at Apr 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IIIN EPS forecast?
IIIN EPS forecast for the fiscal quarter 2025 (Q2) is 0.29.
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