Earnings ·
Insteel reports Q4 EPS of $0.40 on $209.3M sales, down from prior year
IIINInsteel Industries Inc
Insteel Industries reported fourth-quarter net earnings of $7.7 million, or $0.40 per share, a decline from $14.6 million, or $0.74 per diluted share, in the same period last year. Net sales rose 17.9% to $209.3 million, driven by higher average selling prices and an extra week in the fiscal calendar. Gross profit contracted to $21.0 million from $28.6 million as rising raw material and freight costs outpaced price increases. The quarter included $0.7 million in restructuring charges related to consolidating welded wire operations. For the full fiscal year, net earnings were $29.5 million, or $1.51 per diluted share, compared with $41.0 million last year. Insteel ended the period debt-free with $37.5 million in cash and announced plans for approximately $30.0 million in capital expenditures for fiscal 2027 to support engineered structural mesh expansion. Insteel Industries is the largest U.S. manufacturer of steel wire reinforcing products for concrete construction applications.