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Recap: Insteel Industries Q3 Earnings

·1 min read

Shares of Insteel Industries (NASDAQ:IIIN) remained unaffected after the company reported Q3 results.

Quarterly Results

Earnings per share rose 172.73% over the past year to $0.30, which beat the estimate of $0.17.

Revenue of $121,959,000 decreased by 3.40% year over year, which beat the estimate of $115,450,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Jul 16, 2020

View more earnings on IIIN

Time: 10:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/f2ue8dcq

Technicals

Company's 52-week high was at $26.61

Company's 52-week low was at $10.00

Price action over last quarter: Up 15.79%

Company Description

Insteel Industries Inc manufactures steel wire reinforcing products for concrete construction applications. It manufactures and markets PC strand and welded wire reinforcement, including ESM, concrete pipe reinforcement, and standard welded wire reinforcement. The company's products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Its concrete reinforcing products consist of two product lines: PC strand and WWR. Insteel generates its geographical revenue from the United States.

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