Insteel Industries Full Year 2024 Earnings: Misses Expectations

Simply Wall St · 10/18 10:37

Insteel Industries (NYSE:IIIN) Full Year 2024 Results

Key Financial Results

  • Revenue: US$529.2m (down 19% from FY 2023).
  • Net income: US$19.3m (down 40% from FY 2023).
  • Profit margin: 3.6% (down from 5.0% in FY 2023). The decrease in margin was driven by lower revenue.
  • EPS: US$0.99 (down from US$1.66 in FY 2023).
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NYSE:IIIN Earnings and Revenue Growth October 18th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Insteel Industries Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 6.2%.

Looking ahead, revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Building industry in the US.

Performance of the American Building industry.

The company's shares are down 4.1% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Insteel Industries' balance sheet.