Insteel Industries (IIIN) Tops Q2 EPS by 73c

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Go back to Insteel Industries (IIIN) Tops Q2 EPS by 73c

Insteel Industries Reports Second Quarter 2022 Results

April 21, 2022 6:30 AM EDT

MOUNT AIRY, N.C.--(BUSINESS WIRE)-- Insteel Industries Inc. (NYSE: IIIN) today announced financial results for its second quarter ended April 2, 2022.

Second Quarter 2022 Results

For the second quarter of fiscal 2022, Insteel reported record quarterly net earnings of $39.0 million, or $1.99 per diluted share, up from $14.9 million, or $0.76 per diluted share, for the same period a year ago. The Company benefitted from strong demand for its reinforcing products and incremental price increases to recover the continued escalation in costs.

Net sales increased to $213.2 million from... More