Insteel Industries (IIIN) Misses Q3 EPS by 13c

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Go back to Insteel Industries (IIIN) Misses Q3 EPS by 13c

Insteel Industries Reports Third Quarter 2022 Results

July 21, 2022 6:30 AM EDT

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

Third Quarter 2022 Results

For the third quarter of fiscal 2022, Insteel reported net earnings of $38.6 million, or $1.96 per diluted share, up from $18.4 million, or $0.94 per diluted share, for the same period a year ago. The Companys results were favorably impacted by strong demand for its reinforcing products and incremental price increases to recover the escalation in raw material and operating costs.

Net sales... More