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Insteel Industries Reports First Quarter 2025 Results

1. Insteel reported Q1 2025 net sales of $129.7 million, up 6.6%. 2. The company paid $19.4 million in special cash dividends. 3. Executed two acquisitions, enhancing competitive position and expanding market reach. 4. Net income remained stable at $1.1 million, impacted by acquisition costs. 5. Operating cash flow was robust at $19 million, demonstrating financial stability.

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FAQ

Why Bullish?

Insteel's strong sales growth and dividends may attract investors; past growth trends support this outlook.

How important is it?

Strong financials and market strategies directly influence investor perception and IIIN's stock performance.

Why Short Term?

Immediate positive outlook due to recent results but subject to market fluctuations.

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Insteel Industries Reports First Quarter 2025 Results

MOUNT AIRY, N.C.--()--Insteel Industries Inc. (NYSE: IIIN) (“Insteel” or the “Company”), the largest manufacturer of steel wire reinforcing products for concrete construction applications in the United States, today reported financial results for its first quarter of fiscal 2025, ended December 28, 2024.

First Quarter 2025 Highlights

  • Executed and integrated two acquisitions, strengthening our competitive position
  • Payment of special cash dividend totaling $19.4 million, or $1.00 per share
  • Net sales of $129.7 million
  • Gross profit of $9.5 million, or 7.3% of net sales
  • Net income of $1.1 million, or $0.06 per share
  • Operating cash flow of $19.0 million
  • Net cash balance of $36.0 million and no debt outstanding as of December 28, 2024
  • Improved demand environment and business outlook

First Quarter 2025 Results

Net earnings for the first quarter of fiscal 2025 remained unchanged from the prior year at $1.1 million or $0.06 per share. Results for the current quarter include $1.0 million in restructuring charges and acquisition-related costs, which collectively reduced net earnings per share by $0.04. Insteel’s first quarter results benefited from higher spreads between selling prices and raw material costs, as well as an improvement in demand for the Company’s concrete reinforcement products which were partially offset by an increase in selling, general and administrative expense.

Net sales increased 6.6% to $129.7 million from $121.7 million in the prior year quarter, driven by an 11.4% increase in shipments partially offset by a 4.3% decline in average selling prices. Shipments for the current quarter benefited from favorable demand trends in our infrastructure and commercial construction markets, as well as the incremental volume generated from our two recent acquisitions...

Capital Allocation and Liquidity

Capital expenditures for the first quarter of fiscal 2025 decreased to $2.7 million from $12.3 million in the prior year quarter...

Conference Call

Insteel will hold a conference call at 10:00 a.m. ET today to discuss its first quarter financial results. A live webcast of this call can be accessed on Insteel’s website at https://investor.insteel.com and will be archived for replay.

About Insteel

Insteel is the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications...

INSTEEL INDUSTRIES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except for per share data)
(Unaudited)
Three Months Ended
December 28, 2024   December 30, 2023
Net sales $129,720 $121,725
Net earnings $1,081 $1,132

Contacts

Scot Jafroodi
Vice President,
Chief Financial Officer and Treasurer
Insteel Industries Inc.
(336) 786-2141

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