Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Insteel Industries (IIIN)
NYSE:IIIN
Holding IIIN?
Track your performance easily
Earnings Data
Report Date
Jan 16, 2025Before Open Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
$0.1Last Year’s EPS
$0.06Same Quarter Last Year
Based on 0 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 17, 2024
|% Change Since: -0.62%
|Next Earnings Date:Jan 16, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected challenges due to declining sales, competitive pressures and adverse weather impacts. However, the company maintained a strong cash position, returned significant capital to shareholders, and foresees potential market improvements in the future.Company Guidance
In the fourth quarter of 2024, Insteel Industries faced ongoing challenges, as highlighted in their earnings call. The company reported a decline in net earnings to $4.7 million, or $0.24 per share, compared to $5.6 million, or $0.29 per share, in the same period last year. Net sales decreased by 14.7% to $134.3 million, primarily due to a 12.9% drop in average selling prices. Additionally, shipments declined by 2.1% year-over-year and 5.2% sequentially, impacted by adverse weather conditions and competitive pricing pressures. Gross profit fell to $12.3 million, though gross margin improved by 20 basis points to 9.1% due to lower conversion costs. SG&A expenses decreased to $7.5 million, while the effective tax rate slightly increased to 23%. Cash flow from operations dropped significantly to $16.2 million, affected by changes in net working capital. The company ended the quarter with $111.5 million in cash and remained debt-free. Looking ahead, Insteel anticipates gradual improvement in business conditions, driven by potential interest rate cuts and infrastructure spending, while continuing to face competitive pressures in its markets.Cash and Liquidity Position
Insteel Industries ended the quarter with $111.5 million of cash on hand and remains debt-free with no borrowings on its $100 million revolving credit facility.
Return of Capital to Shareholders
In fiscal 2024, Insteel Industries returned $52.8 million to shareholders through dividends and share buybacks, including a special dividend of $2.50 per share and repurchased approximately 58,000 shares of common equity.
Potential Positive Market Trends
Expectations for gradual improvement in business conditions in fiscal 2025, driven by potential interest rate cuts by the Federal Reserve and infrastructure spending.
---
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
---
IIIN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 17, 2024 | $28.50 | $27.10 | -4.91% |
| Jul 18, 2024 | $31.12 | $32.04 | +2.96% |
| Apr 25, 2024 | $32.90 | $30.59 | -7.02% |
| Jan 18, 2024 | $34.77 | $32.93 | -5.29% |
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.
---
FAQ
When does Insteel Industries (IIIN) report earnings?
Insteel Industries (IIIN) is schdueled to report earning on Jan 16, 2025, Before Open Not Confirmed.
What is Insteel Industries (IIIN) earnings time?
Insteel Industries (IIIN) earnings time is at Jan 16, 2025, Before Open 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 (Q1) is $0.1.
---