Insteel Earnings: What To Look For From IIIN

Steel wire manufacturer Insteel (NYSE:IIIN) will be announcing earnings results tomorrow before market open. Here’s what you need to know.

Insteel missed analysts’ revenue expectations by 4.7% last quarter, reporting revenues of $145.8 million, down 12% year on year. It was a disappointing quarter for the company, with a miss of analysts’ earnings estimates.

Is Insteel a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Insteel’s revenue to decline 7.8% year on year to $145.2 million, improving from the 24.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.31 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.

Looking at Insteel’s peers in the building products segment, only AZZ has reported results so far. It met analysts’ revenue estimates, delivering year-on-year sales growth of 2.6%. The stock was down 5.2% on the results.

Read our full analysis of AZZ’s earnings results here.

There has been positive sentiment among investors in the building products segment, with share prices up 3.4% on average over the last month. Insteel is down 9.9% during the same time and is heading into earnings with an average analyst price target of $36.50 (compared to the current share price of $29.51).

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