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Recap: Insteel Q2 Earnings

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Shares of Insteel Industries (NASDAQ: IIIN) were unchanged at $15.23 in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 480.00% year over year to $0.29, which beat the estimate of $0.09.

Revenue of $114,900,000 rose by 2.64% from the same period last year, which beat the estimate of $100,280,000.

Guidance

Insteel Indus hasn't issued any earnings guidance for the time being.

Insteel Indus hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Apr 16, 2020

View more earnings on IIIN

Time: 03:01 PM ET

Webcast URL: https://edge.media-server.com/mmc/p/6e3zqoce

Technicals

Company's 52-week high was at $26.61

52-week low: $10.00

Price action over last quarter: down 41.45%

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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