Welcome to our dedicated page for Insteel Inds news (Ticker: IIIN), a resource for investors and traders seeking the latest updates and insights on Insteel Inds stock.
Insteel Industries, Inc. (NYSE: IIIN) generates a steady stream of news tied to its role as the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications. The company’s updates often focus on its production of prestressed concrete strand (PC strand) and welded wire reinforcement (WWR), including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement, which are sold primarily to manufacturers of concrete products and concrete contractors for use mainly in nonresidential construction.
News coverage for IIIN commonly includes quarterly and annual earnings releases, where Insteel reports net sales, shipment trends, gross margins and commentary on demand in infrastructure, commercial and residential construction markets. These releases also discuss the effects of pricing actions, raw material costs for hot‑rolled carbon steel wire rod, and capacity utilization on the company’s financial performance.
Investors following IIIN news will also see dividend announcements, including regular quarterly cash dividends and, at times, special cash dividends declared by the Board of Directors. Additional items include conference call and webcast notices for upcoming earnings calls, where management discusses results, construction market conditions and the company’s outlook.
Other news items may highlight operational developments, such as safety achievements at specific facilities, capital expenditure plans focused on cost and productivity improvements, and commentary on sourcing strategies for steel wire rod in domestic and international markets. Together, these updates provide insight into Insteel’s operating environment, exposure to construction and infrastructure spending, and its approach to managing costs and capital.
For readers and investors, the IIIN news page offers a centralized view of these developments, making it easier to track how changes in construction markets, steel input costs and company decisions are reflected in Insteel’s public communications over time.
Insteel Industries Inc. (NYSE: IIIN) has declared a quarterly cash dividend of $0.03 per share, payable on March 31, 2023, to shareholders of record as of March 17, 2023. As the largest manufacturer of steel wire reinforcing products in the U.S., Insteel serves primarily the nonresidential construction sector through its products including prestressed concrete strand and welded wire reinforcement. The company operates ten manufacturing facilities across the United States, ensuring a robust supply chain for its concrete products.
Insteel Industries Inc. (NYSE: IIIN) reported a decline in net earnings for Q1 fiscal 2023, totaling $11.1 million ($0.57 per share), down from $23.1 million ($1.18 per share) year-over-year. The decrease was influenced by a 6.5% drop in net sales to $166.9 million and 10.0% lower shipments due to customer destocking amid ongoing construction market weaknesses. Gross margin narrowed significantly to 10.7% from 23.7% last year, attributed to increased costs and lower production volumes. Despite these challenges, operating cash flow improved to $33.0 million. The company anticipates continued impacts from higher-cost inventories and seasonal construction slowdowns but remains optimistic about infrastructure projects boosting demand in the latter half of the fiscal year.
Insteel Industries Inc. (NYSE: IIIN) will host its first quarter 2023 earnings conference call on January 19, 2023, at 10:00 a.m. ET. The call follows the release of financial results at 6:30 a.m. ET the same day. Investors can access the live webcast on the company's website, where it will also be archived for later replay. Insteel is the largest U.S. manufacturer of steel wire reinforcing products for concrete construction, targeting nonresidential applications.
Insteel Industries Inc. (NYSE: IIIN) announced the resignation of Mark A. Carano as Senior Vice President, Chief Financial Officer, and Treasurer, effective December 30, 2022. His departure was not due to disagreements regarding the company's operations. Scot R. Jafroodi, previously Vice President and Corporate Controller, will assume the CFO role effective January 2, 2023. Insteel is the largest manufacturer of steel wire reinforcing products for concrete construction in the U.S., operating ten manufacturing facilities across the country.
Insteel Industries (NYSE: IIIN) has declared a quarterly cash dividend of $0.03 per share and a special cash dividend of $2.00 per share, payable on December 23, 2022, to shareholders of record as of December 9, 2022. This marks the sixth special dividend of at least $1 per share since 2016. The company expresses confidence in its financial position, emphasizing its ability to support capital investment and pursue acquisition opportunities in the coming fiscal year.
Insteel Industries (NYSE: IIIN) reported its fourth quarter and fiscal year results for 2022. In Q4, net earnings were $24.3 million ($1.24 per share), down from $25.2 million ($1.28 per share) year-over-year. Net sales surged 21.4% to $208 million, aided by a 26.1% rise in average selling prices. However, shipment volumes fell by 3.7% due to weakened residential construction and inventory management issues. For the fiscal year, net earnings hit a record $125 million ($6.37 per share), up from $66.6 million ($3.41 per share) in 2021, driven by a 40% revenue increase to $826.8 million.
Insteel Industries Inc. (NYSE: IIIN) will host its fourth quarter 2022 earnings conference call on October 20, 2022, at 10:00 a.m. ET, following a financial results release at 6:30 a.m. ET on the same day. The call will be accessible via their website and archived for future access. Insteel is the largest manufacturer of steel wire reinforcing products in the U.S., focusing on concrete construction applications through its ten manufacturing facilities nationwide. This strategic positioning aims to bolster its market presence in nonresidential construction.
Insteel Industries Inc. (NYSE: IIIN) has announced a quarterly cash dividend of $0.03 per share, payable on September 30, 2022, to shareholders of record as of September 16, 2022. Headquartered in
Insteel Industries Inc. (NYSE: IIIN) reported a net earnings increase for Q3 2022, achieving $38.6 million ($1.96/share), up from $18.4 million ($0.94/share) a year prior. Net sales soared to $227.2 million, a 41.4% rise due to a 53.9% hike in average selling prices, despite an 8.2% drop in shipments. Gross profit reached $58.1 million, enhancing gross margin to 25.6%. While labor market challenges persisted, the company remains optimistic about continued performance through Q4, despite some softness in the standard welded wire reinforcement market related to new home construction.
Insteel Industries Inc. (NYSE: IIIN) will host a third quarter 2022 earnings conference call on July 21, 2022, at 10:00 a.m. ET. The call follows the release of financial results earlier that day at 6:30 a.m. ET. Investors can access the call via the Company’s website, where it will also be archived for replay. As the largest U.S. manufacturer of steel wire reinforcing products for concrete, Insteel serves nonresidential construction applications from its ten manufacturing facilities across the country.
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