UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 30, 2024. ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . Commission File Number: 1-09929 Insteel Industries Inc. (Exact name of registrant as specified in its charter) North Carolina 56-0674867 (State or other jurisdiction ...

Insteel Industries (IIIN) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 59.09%. A quarter ago, it was expected that this maker of steel wire reinforcing for the concrete and construction industry would post earnings of $0.05 per share when it actually produced earnings of $0.06, del ...

Second Quarter 2024 Highlights Second Quarter 2024 Results Net earnings for the second quarter of fiscal 2024 increased to $6.9 million, or $0.35 per diluted share, from $5.1 million, or $0.26 per share, in the same period a year ago. Insteel's results for the second quarter benefited from widening spreads between selling prices and raw material costs relative to the prior year quarter. Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE RELEASE Contact: Scot Jafroodi Vice President, Chief Financial Officer and Treasur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended December 30, 2023. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from_____to_____. Commission File Number: 1-9929 Insteel Industries Inc. (Exact name of registrant as specified in its charter) North Carolina 56-0674867 (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-9929 North Carolina (State or other jurisdiction of incorporation or organization) 56-0674867 (I.R.S. Employer Identification No.) 1373 Boggs Dri ...

Business Overview Demand is both cyclical and seasonal. Shipments are usually higher in the third and fourth quarters of the fiscal year (April to September) when weather conditions are more conducive to construction activity, and lower in the first and second quarters. Welded Wire Reinforcement ("WWR") 5 6 Largest domestic producer of WWR and PC strand and only producer with a national market presence. Continued conversion of rebar users to ESM for cast-in-place applications represents substantial growth o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the quarterly period ended July 1, 2023. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . Commission File Number: 1-9929 Insteel Industries Inc. (Exact name of registrant as specified in its charter) North Carolina 56-0674867 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1373 Boggs Drive, M ...

Insteel Industries, Inc. (NYSE:IIIN) Q3 2023 Earnings Conference Call July 20, 2023 10:00 AM ET Company Participants H. Woltz - President & Chief Executive Officer Scot Jafroodi - Vice President, Chief Financial Officer & Treasurer Conference Call Participants Tyson Bauer - KC Capital Julio Romero - Sidoti & Co. Operator Good morning, and welcome to the Insteel Industries' Third Quarter 2023 Earnings Call. My name is Carla, and I will be the operator of today's call. [Operator Instructions] I would now like ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended April 1, 2023. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . Commission File Number: 1-9929 Insteel Industries Inc. (Exact name of registrant as specified in its charter) North Carolina 56-0674867 (State or other jurisdiction ...

Financial Data and Key Metrics Changes - Net sales for Q2 2023 were $159.1 million, a decrease of 25.4% year-over-year, while shipments rose 5.2% sequentially from Q1 but fell 12.8% year-over-year [3][21] - Gross profit fell by $43.8 million from the previous year, with gross margin narrowing to 8.3% from 26.8% due to lower spreads and higher unit conversion costs [4][21] - Net earnings dropped to $5.1 million from $39 million a year ago, with earnings per share decreasing to $0.26 from $1.99 [21][22] - Average selling prices declined by 9.4% from Q1 and 14.5% year-over-year, driven by competitive pricing pressures [22] Business Line Data and Key Metrics Changes - The company experienced weaker shipping volumes due to adverse winter weather and ongoing inventory destocking by customers [3][4] - SG&A expenses increased to $7.5 million, representing 4.7% of net sales, up from 3.4% the previous year [5] Market Data and Key Metrics Changes - The Architectural Billings Index (ABI) score increased to 50.4 in March, indicating growth, although new project inquiries grew at a slower pace [8] - The Dodge Momentum Index fell 8.6% from February but remains 24% higher year-over-year [8] - Construction spending data showed a 5% increase year-over-year, with non-residential construction up nearly 17% [9] Company Strategy and Development Direction - The company plans to invest approximately $30 million in capital expenditures for 2023, focusing on expanding product capabilities and improving production efficiency [13][25] - The company is optimistic about the impact of the Infrastructure Investment and Jobs Act, expecting it to positively influence markets in 2023 [31] - New production lines are being installed to better address market needs, with commissioning expected in Q3 and Q4 [32] Management's Comments on Operating Environment and Future Outlook - Management noted that inventory corrections are occurring after a period of constrained supply, and they expect a return to more predictable ordering patterns [11][12] - There is cautious optimism regarding demand recovery in residential markets, with expectations for continued strength in non-residential markets [28][57] - The company is monitoring rising risks related to the U.S. economy but plans to maximize shipments and optimize costs [14] Other Important Information - Cash flow from operations generated $46.6 million, primarily due to a $34.7 million decrease in inventories [6] - The company ended the quarter with $80.2 million in cash and no borrowings on its credit facility [7] Q&A Session Summary Question: Can you speak to the trend line in pricing for your product line, most exposed to residential markets? - Management acknowledged risks but noted that while some projects have been delayed, it is not a trend that compromises their outlook for fiscal 2023 [16][17] Question: Are you seeing any benefit yet from the Infrastructure Investment and Jobs Act? - Management indicated that while volume comparisons remain unfavorable, there is accelerating momentum and customers are returning to normal ordering patterns [37] Question: Are you feeling more confident in the residential markets' recovery this year or in the non-residential remaining strong? - Management expressed pleasant surprise at the recovery in residential markets, noting that customers have returned to purchasing after destocking [57]