Insteel Industries Inc reports results for the quarter ended in December - Earnings Summary

Insteel Industries

18/01/2024 12:31

* Insteel Industries Inc  IIIN.N  reported quarterly
adjusted
earnings of 6 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 57 cents.  The lone analyst forecast for
the quarter was for earnings of 5 cents per share. 
    * Revenue fell 27.1% to $121.73 million from a year ago;
analysts
expected $129.68 million. 
    * Insteel Industries Inc's reported EPS for the quarter was
6
cents​.
    * Insteel Industries Inc shares had fallen by 5.7% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 90.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 1 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
supplies & fixtures peer group is also "strong buy"

Wall Street's median 12-month price target for Insteel
Industries Inc is $39.00 
This summary was machine generated from LSEG data January 18 at
12:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.05           0.06           Beat
 Sep. 30 2023      0.66           0.29           Missed
 Jun. 30 2023      0.67           0.54           Missed
 Mar. 31 2023      0.46           0.26           Missed