Financial Data and Key Metrics Changes - Net earnings for Q1 2023 decreased to $11.1 million from $23.1 million in the previous year, with earnings per share dropping to $0.57 from $1.18 [6] - Net sales fell by 6.5% year-over-year, driven by a 10% decrease in shipments, partially offset by a 3.9% increase in average selling prices [6] - On a sequential basis, net sales declined by 19.8% from Q4 2022 due to a 12% drop in shipments and an 8.8% decrease in average selling prices [7] - Gross profit fell by $24.6 million year-over-year, with gross margin narrowing to 10.7% from 23.7% [25] Business Line Data and Key Metrics Changes - The residential-related markets have shown weakness since Q3 2022, with no significant recovery expected until interest rates change [3] - Non-residential markets experienced shipment weakness attributed to customer inventory management rather than impaired demand [3] - SG&A expenses decreased to $7.2 million, representing 4.3% of net sales, down from $12.3 million or 6.9% of net sales in the previous year [9] Market Data and Key Metrics Changes - The ABI index for non-residential construction spending remained negative at 46.6, while the Dodge Momentum Index increased to 222.3, reflecting a 40% year-over-year rise [13] - The company noted an inventory imbalance primarily in residential markets, while non-residential construction inventories were more aligned with business levels [15] Company Strategy and Development Direction - The company plans to invest approximately $30 million in capital expenditures for 2023 to enhance product capabilities and reduce production costs [16] - The Infrastructure Investment and Jobs Act is expected to positively impact the company's markets in 2023, addressing long-standing infrastructure investment needs [33] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the non-residential markets, indicating that underlying demand remains robust despite inventory corrections [22][41] - The company is monitoring rising risks related to the U.S. economy while pursuing actions to maximize shipments and optimize costs [43] Other Important Information - The company returned $39.5 million to shareholders through a special cash dividend of $2 per share, marking the second consecutive year of such dividends [12] - Cash flow from operations provided $33 million in Q1, driven by a reduction in working capital [28] Q&A Session Summary Question: What is the impact of customer destocking on non-residential shipments? - Management indicated that the weakness in non-residential shipments was primarily due to customer destocking rather than easing supply chain constraints [52] Question: How do you expect prices to change in the coming quarters? - Management stated that price changes are unpredictable but typically do not see significant price competition when demand is strong [54] Question: What is the outlook for inventory levels? - Management noted that the over-inventory situation is mainly in residential markets and expects to work through this by the second quarter [45]

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 31, 2022 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 (State or other jur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-K For the transition period from to Commission file number 1-9929 INSTEEL INDUSTRIES, INC. ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 1, 2022 56-0674867 (I.R.S. Employer Identification No.) Indicate by check mark if the registrant is a well-known seasoned issu ...

Insteel Industries, Inc. (NYSE:IIIN) Q4 2022 Earnings Conference Call October 20, 2022 10:00 AM ET Company Participants H.O. Woltz - Chairman, President, and Chief Executive Officer Mark Carano - Senior Vice President, Chief Financial Officer, and Treasurer Conference Call Participants Julio Romero - Sidoti & Co. Tyson Bauer - KC Capital Operator Good morning and a warm welcome to the Insteel Industries' Fourth Quarter 2022 Earnings Conference Call. My name is Candice, and I will be your moderator for today ...

Insteel Industries, Inc. (NYSE:IIIN) Q3 2022 Earnings Conference Call July 21, 2022 10:00 AM ET Company Participants H.O. Woltz - Chairman, President and Chief Executive Officer Mark Carano - Senior Vice President, Chief Financial Officer and Treasurer Conference Call Participants Julio Romero - Sidoti & Company Tyson Bauer - KC Capital Operator Hello, and welcome to the Insteel Industries Third Quarter 2022 Earnings Call. My name is Kate and I will be your call today. [Operator Instructions] I'll now hand ...

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 July 2, 2022 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 (State or other jurisdic ...

INDUSTRIES INC. Investor Presentation April 21, 2022 Quener, P 1 1 1 8 L 男 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this presentation, the words "believes," "anticipates," "expects," "estimates," "appears," "plans," "intends," "may," "should," "could" and similar expressions are intended to identify forward-looking statements. Although we believe that ...

Insteel industries, Inc. (NYSE:IIIN) Q2 2022 Earnings Conference Call April 21, 2022 10:00 AM ET Company Participants H.O. Woltz III – Chairman, President and Chief Executive Officer Mark Carano – Senior Vice President, Chief Financial Officer and Treasurer Conference Call Participants Tyson Bauer – KC Capital Julio Romero – Sidoti Operator Hello, and welcome to today's In-steel Industries. Second Quarter 2022, Earnings Call. My name is Bally and I will be your moderator for today's call. All lines will be ...

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 2, 2022 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 (State or other jurisdi ...

INDUSTRIES INC. Investor Presentation January 20, 2022 Quant Roll 2017 NE r B Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this presentation, the words "believes," "anticipates," "expects," "estimates," "appears," "plans," "intends," "may," "should," "could" and similar expressions are intended to identify forward-looking statements. Although we believe t ...