Insteel Industries (IIIN) Tops Q3 EPS by 15c

Insteel Industries (NASDAQ: IIIN) reported Q3 EPS of $0.67, $0.15 better than the analyst estimate of $0.52. Revenue for the quarter came in at $126.7 million versus the consensus estimate of $119.02 million.

"Looking ahead, we are encouraged by the recent favorable demand trends in our markets and strengthening in construction activity, which is expected to continue," commented H.O. Woltz III, Insteel\'s president and CEO. "Business conditions will remain challenging, however, as we contend with rising cost pressures and supply constraints resulting from the imposition of the Section 232 tariffs on imported steel and the impact of recent trade cases initiated by domestic wire rod producers. We will continue to maintain commercial discipline in recovering these additional costs in our markets and intensify our ongoing process improvement initiatives across our operations."

For earnings history and earnings-related data on Insteel Industries (IIIN) click here.

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