Insteel Inds Stock Price, News & Analysis

Insteel Industries (NYSE: IIIN), the nation's largest manufacturer of steel wire reinforcing products for concrete construction, has scheduled its second quarter 2025 earnings conference call for April 17, 2025. The company will release its Q2 financial results at 6:30 a.m. ET, followed by a webcast conference call at 10:00 a.m. ET.

The conference call will be accessible through the company's investor relations website at https://investor.insteel.com and will be archived for future reference. Insteel specializes in manufacturing prestressed concrete strand and welded wire reinforcement products, primarily serving nonresidential construction applications through eleven U.S. manufacturing facilities.

Insteel Industries (NYSE: IIIN) has appointed Eric Zernikow to its board of directors, with a term extending through the 2027 annual meeting. Zernikow will serve on both the Executive Compensation Committee and Nominating and Governance Committee.

Zernikow brings 22 years of experience from Nucor , the nation's largest steel producer, where he most recently served as General Manager of Commercial (2020-2022). His previous roles include Commercial Director of the Engineered Bar Group, National Sales Manager of the Nucor Cold Finish Group, and Plant Manager of Nucor Cold Finish in Darlington, South Carolina. He currently works as a strategic business advisor in the steel industry.

Insteel, headquartered in Mount Airy, North Carolina, is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications, operating eleven U.S. manufacturing facilities.

Insteel Industries (NYSE: IIIN), the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications, has announced a quarterly cash dividend of $0.03 per share. The dividend will be payable on March 28, 2025, to shareholders of record as of March 14, 2025.

The company specializes in manufacturing prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement, and standard welded wire reinforcement. These products are primarily sold to concrete product manufacturers serving the nonresidential construction sector. Insteel operates eleven manufacturing facilities across the United States and is headquartered in Mount Airy, North Carolina.

Insteel Industries (NYSE: IIIN) reported its Q1 2025 financial results, with net earnings remaining flat at $1.1 million ($0.06 per share) compared to the previous year. The quarter included $1.0 million in restructuring charges and acquisition costs, reducing EPS by $0.04.

Net sales increased 6.6% to $129.7 million, driven by an 11.4% increase in shipments, despite a 4.3% decline in average selling prices. Gross margin expanded to 7.3% from 5.2% year-over-year. The company completed two strategic acquisitions: Engineered Wire Products for $67.0 million and O'Brien Wire Products for $5.1 million.

The company maintained a strong financial position with $36.0 million in cash and no debt, while paying a special dividend of $1.00 per share totaling $19.4 million. Operating cash flow was $19.0 million, and capital expenditures decreased to $2.7 million.

Insteel Industries (NYSE: IIIN) has scheduled its first quarter 2025 earnings conference call for Thursday, January 16, 2025, at 10:00 a.m. ET. The company will release its Q1 financial results earlier the same day at 6:30 a.m. ET. The conference call will be accessible via webcast on the company's investor relations website and will be archived for later viewing.

Insteel is the largest manufacturer of steel wire reinforcing products for concrete construction in the United States. The company specializes in prestressed concrete strand and welded wire reinforcement products, primarily serving manufacturers of concrete products and contractors in nonresidential construction. Operating from its Mount Airy, North Carolina headquarters, Insteel maintains eleven manufacturing facilities across the United States.

Insteel Industries (NYSE: IIIN) has appointed Blake Doyle to its board of directors, with a term extending through the 2025 annual meeting of shareholders. Doyle will serve on the Audit Committee. She currently serves as Managing Director at Chevy Chase Trust Company, where she heads Institutional Sales and Product Development. Her prior experience includes roles at Height Securities, FBR Capital Markets, and Audax Group. The company, headquartered in Mount Airy, North Carolina, is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications, operating eleven manufacturing facilities across the United States.

Insteel Industries (NYSE: IIIN) announced the closure of its Warren, Ohio facility, with operations expected to cease by November 2024. The facility, acquired through the purchase of Engineered Wire Products, will have its manufacturing operations consolidated into the company's remaining welded wire reinforcement facilities. The closure will result in up to 35 job eliminations and incur a restructuring charge of $1.9 million. The decision was attributed to low capacity utilization levels and dim prospects for improvement, aimed at reducing operating costs and strengthening competitive position.

Insteel Industries (NYSE: IIIN) has declared two dividends: a regular quarterly cash dividend of $0.03 per share and a special cash dividend of $1.00 per share. Both dividends will be payable on December 13, 2024, to shareholders of record as of November 29, 2024. The company remains debt-free and plans to continue its share buyback program while pursuing growth opportunities. Insteel is the largest U.S. manufacturer of steel wire reinforcing products for concrete construction applications, operating twelve manufacturing facilities nationwide.

Insteel Industries Inc. (NYSE: IIIN) reported its Q4 and fiscal 2024 results. Q4 highlights include net sales of $134.3 million, gross profit of $12.3 million (9.1% of net sales), and net income of $4.7 million ($0.24 per share). The company ended with a net cash balance of $111.5 million and no debt.

Fiscal 2024 results show net earnings decreased to $19.3 million ($0.99 per share) from $32.4 million in the prior year. Net sales decreased 18.5% to $529.2 million, driven by lower average selling prices. Gross margin narrowed to 9.4% from 10.1%.

The company anticipates gradual improvement in business conditions for fiscal 2025, with potential benefits from declining inflation, lower interest rates, and infrastructure spending. However, import-related challenges are expected to persist in PC strand markets.