Insteel Industries (NYSE: IIIN) grows Q2 2026 sales but margins and earnings fall

Rhea-AI Filing Summary

Insteel Industries reported mixed results for its fiscal second quarter ended March 28, 2026. Net earnings fell to $5.2 million, or $0.27 per diluted share, down from $10.2 million, or $0.52 per share, a year earlier as profit margins narrowed. Net sales rose 7.5% to $172.7 million, driven by a 14.2% increase in average selling prices that more than offset a 5.9% decline in shipments largely attributed to severe winter weather.

Gross profit declined to $16.5 million and gross margin compressed to 9.6% from 15.3% due to reduced spreads between selling prices and raw material costs, lower volumes and higher operating costs. Operating activities generated $4.8 million of cash versus a use of $3.3 million in the prior-year quarter, helped by a much smaller working capital build. For the first six months of fiscal 2026, net earnings increased modestly to $12.8 million on net sales of $332.6 million, with slightly higher gross profit but a lower 10.4% gross margin.

Management cited winter weather disruptions, delayed (but not canceled) projects, elevated freight and energy costs, and high domestic wire rod prices relative to global levels as key pressures, while expressing optimism that nonresidential construction demand and seasonal trends will support stronger shipments later in the year. Insteel ended the quarter with $15.1 million of cash and no borrowings on its $100.0 million revolving credit facility.

Positive

• None.

Negative

• Margin compression and earnings decline: Q2 2026 net earnings fell to $5.2 million from $10.2 million and gross margin contracted from 15.3% to 9.6%, reflecting reduced spreads, lower volumes and higher operating costs.

Insights

Industrial equities analyst

Revenue grew but profit and margins compressed sharply on costs and weather.

Insteel Industries delivered higher fiscal Q2 2026 net sales of $172.7 million, up 7.5%, entirely price-driven as average selling prices rose 14.2% while shipments fell 5.9% due to widespread winter weather disruptions and delayed projects.

Profitability deteriorated: gross profit dropped from $24.5 million to $16.5 million, and gross margin narrowed from 15.3% to 9.6%. Net earnings halved to $5.2 million despite prior-year restructuring and acquisition costs, reflecting tighter spreads on steel wire products and higher unit manufacturing and freight costs.

For the six-month period ended March 28, 2026, net earnings improved modestly to $12.8 million on net sales of $332.6 million, but gross margin slipped to 10.4%. Management points to healthy nonresidential demand and weather-delayed projects later in fiscal 2026, while ongoing inflation, elevated domestic wire rod prices and geopolitical/trade uncertainties remain key external risks.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 net sales: $172.7 million Q2 2026 net earnings: $5.2 million Q2 2026 gross margin: 9.6% +5 more

8 metrics

Q2 2026 net sales $172.7 million Three months ended March 28, 2026; up 7.5% year over year

Q2 2026 net earnings $5.2 million Down from $10.2 million in prior-year quarter

Q2 2026 gross margin 9.6% Decreased from 15.3% in prior-year quarter

Six-month 2026 net sales $332.6 million Six months ended March 28, 2026; up from $290.4 million

Six-month 2026 net earnings $12.8 million Increased from $11.3 million in prior-year period

Operating cash flow Q2 2026 $4.8 million Net cash provided by operating activities in the quarter

Cash and revolver availability $15.1 million cash; $100.0 million facility Cash balance and undrawn revolving credit facility at March 28, 2026

Capital expenditures six months 2026 $5.9 million First six months of fiscal 2026; up from $4.9 million

Key Terms

gross margin, net working capital, engineered structural mesh, Section 232 derivative product initiative, +2 more

6 terms

gross margin financial

"Gross profit decreased to $16.5 million from $24.5 million, and gross margin narrowed to 9.6% from 15.3%"

Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.

net working capital financial

"Net working capital used $1.4 million in the current quarter, driven by an increase in accounts receivable"

Net working capital is the amount left when you subtract a company’s short-term bills (like accounts payable and short-term loans) from its short-term assets (cash, money owed to it, and inventory). Think of it as the cash cushion a business has to keep daily operations running — a bigger cushion means fewer short-term funding worries, while a small or negative number can signal pressure to raise cash or cut activity, which matters to investors assessing stability and short-term risk.

engineered structural mesh financial

"investments in the growth of our engineered structural mesh (“ESM”) business, and routine maintenance requirements"

Section 232 derivative product initiative regulatory

"practically eliminating the intended impact of the Section 232 derivative product initiative pursued by the Administration in 2025"

forward-looking statements regulatory

"This news release contains forward-looking statements within the meaning of the safe harbor provisions"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

nonresidential construction financial

"supported by continued momentum in nonresidential construction markets, the typical seasonal pickup in activity"

Earnings Snapshot

Net sales: $172.7 million · Guidance included

Q2 2026

Net sales $172.7 million +7.5% year over year

Net earnings $5.2 million down from $10.2 million year over year

Diluted EPS $0.27 down from $0.52 year over year

Gross margin 9.6% down from 15.3% year over year

Guidance

Management expects shipment levels to strengthen later in fiscal 2026, supported by nonresidential construction demand, typical seasonal pickup and carryover of weather-delayed projects.

Understanding 8-K Material Events →

false 0000764401 0000764401 2026-04-16 2026-04-16

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549 

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 16, 2026 

Insteel Industries Inc.

(Exact Name of Registrant as Specified in Charter) 

North Carolina		1-9929		56-0674867
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

1373 Boggs Drive

Mount Airy, North Carolina 27030

(Address of Principal Executive Offices, and Zip Code)

(336) 786-2141

Registrant’s Telephone Number, Including Area Code

(Former Name or Former Address, if Changed Since Last Report) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock (No Par Value)	IIIN	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On April 16, 2026, Insteel Industries Inc. issued a news release regarding its financial results for its second quarter ended March 28, 2026. A copy of this release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in Item 2.02 of this Current Report on Form 8-K, including the related information in Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

Exhibit 99.1 News Release dated April 16, 2026 announcing financial results for the second quarter ended March 28, 2026.

Exhibit 104 Cover Page Interactive Data File (embedded within Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

INSTEEL INDUSTRIES INC.

By: /s/ Elizabeth C. Southern

Name: Elizabeth C. Southern

Title: Vice President Administration, Secretary and Chief Legal Officer

Date: April 16, 2026

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE Contact: Scot Jafroodi Vice President, Chief Financial Officer and Treasurer Insteel Industries Inc. (336) 786-2141

INSTEEL INDUSTRIES REPORTS SECOND QUARTER 2026 RESULTS

MOUNT AIRY, N.C., April 16, 2026 – Insteel Industries Inc. (NYSE: IIIN) (“Insteel” or the “Company”), the largest manufacturer of steel wire reinforcing products for concrete construction applications in the United States, today reported financial results for its second quarter of fiscal 2026, ended March 28, 2026.

Second Quarter 2026 Highlights

● Net earnings of $5.2 million, or $0.27 per share

● Net sales of $172.7 million

● Gross profit of $16.5 million, or 9.6% of net sales

● Net cash balance of $15.1 million and no debt outstanding as of March 28, 2026

● Weather-driven volume decline, while market outlook remains positive

Second Quarter 2026 Results

Net earnings for the second quarter of fiscal 2026 decreased to $5.2 million, or $0.27 per share, from $10.2 million, or $0.52 per diluted share, in the same period a year ago. Prior year results included $0.7 million in restructuring charges and acquisition-related costs, which collectively reduced net earnings per share by $0.03. Insteel’s second quarter results were unfavorably impacted by narrower spreads between selling prices and raw material costs, lower shipments and elevated unit manufacturing costs.

Net sales increased 7.5% to $172.7 million from $160.7 million in the prior-year quarter, driven by a 14.2% increase in average selling prices, partially offset by a 5.9% decline in shipments. Higher average selling prices reflect ongoing pricing actions implemented to offset increased raw material and operating costs. The decline in shipments was driven mainly by widespread and prolonged winter weather disruptions across most of our markets, which limited construction activity and constrained operating schedules for both customers and Insteel. Sequentially, shipments grew 6.9% from the first quarter, while average selling prices rose 1.0%. Gross profit decreased to $16.5 million from $24.5 million, and gross margin narrowed to 9.6% from 15.3% in the prior‑year quarter, primarily reflecting reduced spreads, lower shipment volumes and higher operating costs driven in part by weather‑related operational inefficiencies.

Operating activities provided $4.8 million of cash while using $3.3 million in the prior year quarter, primarily due to the relative changes in net working capital and the decrease in net earnings. Net working capital used $1.4 million in the current quarter, driven by an increase in accounts receivable partially offset by a reduction in inventories, compared to $21.9 million in the prior year quarter.

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1373 BOGGS DRIVE, MOUNT AIRY, NC 27030/PHONE: (336) 786-2141/FAX: (336) 786-2144

WWW.INSTEEL.COM

Page 2 of 6

Six Month 2026 Results

Net earnings for the first six months of fiscal 2026 increased to $12.8 million, or $0.65 per diluted share, from $11.3 million, or $0.58 per share, in the same period a year ago. Earnings for the prior year period included $1.7 million in restructuring charges and acquisition-related costs, which collectively reduced net earnings per share by $0.07.

Net sales increased to $332.6 million from $290.4 million for the prior year period, driven by a 16.2% rise in average selling prices partially offset by a 1.5% decrease in shipments. Gross profit increased to $34.6 million from $34.1 million in the same period a year ago, while gross margin narrowed to 10.4% from 11.7% due primarily to higher operating costs.

Operating activities provided $4.4 million of cash compared with $15.7 million in the prior year period, primarily due to the relative changes in net working capital. Net working capital used $18.0 million of cash in the current year period to fund an increase in inventories, compared to $9.6 million in the prior year period.

Capital Allocation and Liquidity

Capital expenditures for the first six months of fiscal 2026 increased to $5.9 million from $4.9 million in the comparable prior year period. Capital outlays for fiscal 2026 are expected to total up to approximately $20.0 million, primarily directed toward cost and productivity improvement initiatives, investments in the growth of our engineered structural mesh (“ESM”) business, and routine maintenance requirements.

Insteel ended the quarter with $15.1 million of cash and no borrowings outstanding on its $100.0 million revolving credit facility.

Outlook

“Winter weather affected most of our facilities and geographies during the quarter, limiting shipments as construction activity slowed and the supply chain experienced operational disruptions,” commented H.O. Woltz III, Insteel’s President and CEO. “Additionally, certain projects that had initially scheduled deliveries in Q2 were delayed until later in our fiscal year, unrelated to weather conditions. I should emphasize that these are delays rather than cancellations. We view these events as temporary and not indicative of underlying demand, which we continue to believe is healthy. If our assumption is correct, shipment levels should strengthen, supported by continued momentum in nonresidential construction markets, the typical seasonal pickup in activity, and the carryover of weather‑delayed projects. We are optimistic about demand in our markets, and believe we are well‑positioned to benefit as activity levels increase.”

Mr. Woltz added, “Beyond the near‑term effects of winter weather, broader market forces continue to shape our operating environment, particularly those tied to raw material availability and pricing, evolving U.S. trade policy, and ongoing geopolitical tension in the Middle East. Domestic hot‑rolled wire rod prices remain far above global levels, practically eliminating the intended impact of the Section 232 derivative product initiative pursued by the Administration in 2025. Even so, we are comfortable with our market position that includes minimal direct import competition but we remain concerned by the disconnect between U.S. pricing for hot-rolled steel relative to the world market level. Inflationary conditions continue to adversely affect our cost profile as we have experienced increased tariff costs, significant increases in energy costs, and recently, sharply escalating freight costs. As we move forward, we will remain focused on disciplined pricing, operational efficiency, and maintaining strong relationships with our customers, which we believe positions us to navigate these market conditions effectively.”

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Page 3 of 6

Conference Call

Insteel will hold a conference call at 10:00 a.m. ET today to discuss its second quarter financial results. A live webcast of this call can be accessed on Insteel’s website at https://investor.insteel.com and will be archived for replay.

About Insteel

Insteel is the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets prestressed concrete strand and welded wire reinforcement, including ESM, concrete pipe reinforcement and standard welded wire reinforcement. Insteel’s products are sold primarily to manufacturers of concrete products and concrete contractors for use, primarily, in nonresidential construction applications. Headquartered in Mount Airy, North Carolina, Insteel operates 11 manufacturing facilities located in the United States.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “believes,” “anticipates,” “expects,” “estimates,” “appears,” “plans,” “intends,” “may,” “should,” “could” and similar expressions are intended to identify forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, they are subject to several risks and uncertainties, and we can provide no assurances that such plans, intentions or expectations will be implemented or achieved. Many of these risks and uncertainties are discussed in detail in our Annual Report on Form 10-K for the year ended September 27, 2025 and may be updated from time to time in our other filings with the U.S. Securities and Exchange Commission (the “SEC”).

All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All forward-looking statements speak only to the respective dates on which such statements are made, and we do not undertake any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.

It is not possible to anticipate and list all risks and uncertainties that may affect our business, future operations or financial performance; however, they include, but are not limited to, the following: general economic and competitive conditions in the markets in which we operate, including uncertainty over global trade policies and the financial impact of related tariffs and retaliatory tariffs; geopolitical conflicts that may increase our costs and disrupt our supply chain; changes in the spending levels for nonresidential and residential construction and the impact on demand for our products; changes in the amount and duration of transportation funding provided by federal, state and local governments and the impact on spending for infrastructure construction and demand for our products; the cyclical nature of the steel and building material industries; credit market conditions and the relative availability of financing for us, our customers and the construction industry as a whole; the impact of rising interest rates on the cost of financing for our customers; fluctuations in the cost and availability of our primary raw material, hot-rolled carbon steel wire rod, from domestic and foreign suppliers; competitive pricing pressures and our ability to raise selling prices in order to recover increases in raw material or operating costs; changes in United States or foreign trade policy affecting imports or exports of steel wire rod or our products; unanticipated changes in customer demand, order patterns and inventory levels; the impact of fluctuations in demand and capacity utilization levels on our unit manufacturing costs; our ability to further develop the market for ESM and expand our shipments of ESM; legal, environmental, economic or regulatory developments that significantly impact our business or operating costs; unanticipated plant outages, equipment failures or labor difficulties; the impact of cybersecurity breaches and data leaks: and the “Risk Factors” discussed in our Annual Report on Form 10-K for the year ended September 27, 2025, and in other filings made by us with the SEC.

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INSTEEL INDUSTRIES INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except for per share data)

(Unaudited)

		Three Months Ended								Six Months Ended
		March 28,				March 29,				March 28,				March 29,
		2026				2025				2026				2025
Net sales		$	172,653			$	160,656			$	332,577			$	290,376
Cost of sales			156,160				136,127				298,024				256,318
Gross profit			16,493				24,529				34,553				34,058
Selling, general and administrative expense			9,712				10,800				18,472				18,687
Restructuring charges, net			-				662				51				1,358
Acquisition costs			-				27				-				298
Other expense, net			18				18				7				4
Interest expense			23				13				36				26
Interest income			(61	)			(316	)			(431	)			(1,102	)
Earnings before income taxes			6,801				13,325				16,418				14,787
Income taxes			1,584				3,095				3,608				3,476
Net earnings		$	5,217			$	10,230			$	12,810			$	11,311
Net earnings per share:
Basic		$	0.27			$	0.53			$	0.66			$	0.58
Diluted			0.27				0.52				0.65				0.58
Weighted average shares outstanding:
Basic			19,482				19,482				19,477				19,490
Diluted			19,566				19,529				19,559				19,539
Cash dividends declared per share		$	0.03			$	0.03			$	1.06			$	1.06

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Page 5 of 6

INSTEEL INDUSTRIES INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands)

		(Unaudited)												(Unaudited)
		March 28,				December 27,				September 27,				March 29,
		2026				2025				2025				2025
Assets
Current assets:
Cash and cash equivalents		$	15,088			$	15,589			$	38,630			$	28,424
Accounts receivable, net			81,386				64,601				78,719				79,792
Inventories			158,980				172,287				137,776				96,033
Other current assets			8,080				5,742				6,822				6,536
Total current assets			263,534				258,219				261,947				210,785
Property, plant and equipment, net			126,199				126,327				128,691				133,944
Intangibles, net			15,745				16,138				16,553				17,514
Goodwill			37,755				37,755				37,755				37,755
Other assets			17,254				17,694				17,704				21,862
Total assets		$	460,487			$	456,133			$	462,650			$	421,860
Liabilities and shareholders' equity
Current liabilities:
Accounts payable		$	62,185			$	57,299			$	48,173			$	42,998
Accrued expenses			8,815				14,897				17,836				11,427
Total current liabilities			71,000				72,196				66,009				54,425
Other liabilities			24,971				25,094				25,109				26,022
Commitments and contingencies
Shareholders' equity:
Common stock			19,433				19,396				19,420				19,412
Additional paid-in capital			90,735				89,733				89,402				87,959
Retained earnings			254,384				249,750				262,746				234,650
Accumulated other comprehensive loss			(36	)			(36	)			(36	)			(608	)
Total shareholders' equity			364,516				358,843				371,532				341,413
Total liabilities and shareholders' equity		$	460,487			$	456,133			$	462,650			$	421,860

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Page 6 of 6

INSTEEL INDUSTRIES INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

		Three Months Ended								Six Months Ended
		March 28,				March 29,				March 28,				March 29,
		2026				2025				2026				2025
Cash Flows From Operating Activities:
Net earnings		$	5,217			$	10,230			$	12,810			$	11,311
Adjustments to reconcile net earnings to net cash provided by (used for) operating activities:
Depreciation and amortization			4,407				4,603				8,960				9,032
Amortization of capitalized financing costs			13				13				26				26
Stock-based compensation expense			1,317				1,343				1,758				1,688
Deferred income taxes			124				(770	)			272				7
Asset impairment charges			-				320				-				593
Loss on sale and disposition of property, plant and equipment			32				31				52				34
Increase in cash surrender value of life insurance policies over premiums paid			-				-				(15	)			-
Net changes in assets and liabilities (net of assets and liabilities acquired):
Accounts receivable, net			(16,785	)			(30,350	)			(2,667	)			(21,484	)
Inventories			13,307				2,637				(21,204	)			5,277
Accounts payable and accrued expenses			2,115				5,823				5,886				6,577
Other changes			(4,910	)			2,802				(1,508	)			2,604
Total adjustments			(380	)			(13,548	)			(8,440	)			4,354
Net cash provided by (used for) operating activities			4,837				(3,318	)			4,370				15,665
Cash Flows From Investing Activities:
Acquisition of businesses			-				-				-				(71,456	)
Capital expenditures			(4,400	)			(2,226	)			(5,894	)			(4,893	)
Increase in cash surrender value of life insurance policies			(77	)			(240	)			(437	)			(56	)
Proceeds from sale of property, plant and equipment			-				37				-				37
Proceeds from surrender of life insurance policies			-				30				3				30
Net cash used for investing activities			(4,477	)			(2,399	)			(6,328	)			(76,338	)
Cash Flows From Financing Activities:
Proceeds from long-term debt			18,250				66				18,317				135
Principal payments on long-term debt			(18,250	)			(66	)			(18,317	)			(135	)
Cash dividends paid			(583	)			(582	)			(20,561	)			(20,596	)
Payment of employee tax withholdings related to net share transactions			(278	)			(103	)			(278	)			(103	)
Repurchases of common stock			-				(1,125	)			(745	)			(1,742	)
Net cash used for financing activities			(861	)			(1,810	)			(21,584	)			(22,441	)
Net decrease in cash and cash equivalents			(501	)			(7,527	)			(23,542	)			(83,114	)
Cash and cash equivalents at beginning of period			15,589				35,951				38,630				111,538
Cash and cash equivalents at end of period		$	15,088			$	28,424			$	15,088			$	28,424
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for:
Interest		$	11			$	-			$	11			$	-
Income taxes, net			6,583				237				6,650				277
Non-cash investing and financing activities:
Purchases of property, plant and equipment in accounts payable			1,367				1,618				1,367				1,618
Restricted stock units and stock options surrendered for withholding taxes payable			278				103				278				103
Accrued liability related to holdback for business acquired			-				657				-				657

IIIN – E

FAQ

How did Insteel Industries (IIIN) perform in fiscal Q2 2026?

Insteel Industries’ fiscal Q2 2026 net earnings fell to $5.2 million from $10.2 million a year earlier. Net sales rose to $172.7 million, but gross margin narrowed to 9.6% as reduced spreads, lower shipments and higher costs weighed on profitability.

Why did Insteel Industries’ Q2 2026 earnings decline year over year?

Earnings declined mainly because gross margin fell from 15.3% to 9.6%. The company cited narrower spreads between selling prices and raw material costs, lower shipments due to severe winter weather, and elevated operating and freight costs as key headwinds.

What were Insteel Industries’ Q2 2026 revenue and pricing trends?

Net sales in Q2 2026 increased to $172.7 million, up 7.5% from the prior-year quarter. This growth was driven by a 14.2% rise in average selling prices, partially offset by a 5.9% decline in shipments as construction activity slowed during widespread winter weather.

How did Insteel Industries’ first-half 2026 results compare to last year?

For the first six months of fiscal 2026, net earnings rose to $12.8 million from $11.3 million on net sales of $332.6 million versus $290.4 million. Gross profit ticked up slightly, but gross margin slipped from 11.7% to 10.4% due to higher operating costs.

What is Insteel Industries’ liquidity and debt position after Q2 2026?

At March 28, 2026, Insteel Industries held $15.1 million in cash and cash equivalents and reported no borrowings on its $100.0 million revolving credit facility. Total assets were $460.5 million and shareholders’ equity stood at $364.5 million.

What outlook did Insteel Industries provide for demand and shipments?

Management said winter weather caused shipment delays but emphasized these were delays rather than cancellations. They view underlying demand as healthy and expect shipment levels to strengthen with nonresidential construction momentum, seasonal activity increases and carryover of weather-delayed projects later in fiscal 2026.

Filing Exhibits & Attachments

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Press Releases

• EX-99.1 EXHIBIT 99.1 300.8 KB

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