Insteel reports Q1 EPS 6c vs. 6c last year

Reports Q1 revenue $129.7M vs. $121.7M last year. Results for the current quarter include $1.0M in restructuring charges and acquisition-related costs, which collectively reduced net earnings per share by 4c. “We are encouraged by recovering order activity we experienced during the first quarter, which is typically seasonally weak,” said CEO H.O. Woltz III. “The improved start to the year, together with increasing contributions from our recent acquisitions, positions us well as we move into the balance of FY25. While we are optimistic that our markets will recover during 2025, we continue to face the headwinds of low-priced PC strand imports entering the U.S. market. We are addressing this issue with both the Biden Administration and the incoming Trump Administration. Once again, our people did a remarkable job of integrating the acquisitions we completed during Q1…While systems training will be ongoing, integration risk is substantially behind us, and we are well underway in capturing the significant cost reduction synergies that are available. Looking ahead to the remainder of FY25, we are focused on optimizing operations, taking advantage of emerging opportunities in our markets, and delivering long-term value to our shareholders.”