Insteel Industries (IIIN) Tops Q1 EPS by 27c

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Go back to Insteel Industries (IIIN) Tops Q1 EPS by 27c

Insteel Industries Reports First Quarter 2022 Results

January 20, 2022 6:30 AM EST

MOUNT AIRY, N.C.--(BUSINESS WIRE)-- Insteel Industries Inc. (NYSE: IIIN) today announced financial results for its first quarter ended January 1, 2022.

First Quarter 2022 Results

For the first quarter of fiscal 2022, Insteel recorded record quarterly revenue of $178.5 million and record first quarter net earnings of $23.1 million, or $1.18 per diluted share, compared to $8.1 million, or $0.42 per diluted share, in the same period a year ago. Net sales increased 49.2% and earnings per share increased 181%.

Demand for the Companys concrete reinforcing products remained strong despite the normal seasonal... More