Insteel Industries (IIIN) Misses Q2 EPS by 14c, Slight Beat on Revenues
Get Alerts IIIN Hot Sheet
EPS Growth %: +15.4%
Financial Fact:
Net sales: 115.63M
Today's EPS Names:
MAXN, CSTR, ACU, More
Join SI Premium – FREE
Insteel Industries (NASDAQ: IIIN) reported Q2 EPS of $0.31, $0.14 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $107.4 million versus the consensus estimate of $107.3 million.
Insteel's second-quarter results were unfavorably impacted by narrower spreads between selling prices and raw material costs partially offset by higher shipments and a lower effective tax rate relative to the prior year quarter.
Outlook
"As we move into the second half of fiscal 2018, we expect improved business conditions driven by the usual seasonal pickup in demand together with continued growth in the construction sector," commented H.O. Woltz III, Insteel's president and CEO. "We believe the infrastructure-related portion of our business will benefit from the funding increases provided for in the recently passed federal omnibus spending bill together with state and local initiatives. The outlook for private nonresidential construction remains positive as well based on most recent leading indicators and industry forecasts, with the potential for additional investment spurred by the new tax law."
For earnings history and earnings-related data on Insteel Industries (IIIN) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- American Express (AXP) down despite beating Q1 estimates on top and bottom lines
- Park National Corp. (PRK) Tops Q1 EPS by 36c
- BancFirst Corp. (BANF) Tops Q1 EPS by 11c
Create E-mail Alert Related Categories
Earnings, Guidance, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!