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

Insteel Industries

18/07/2024 15:22

* Insteel Industries Inc  IIIN.N  reported quarterly
adjusted
earnings of 34 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 54 cents.  The mean expectation of two analysts for the
quarter was for earnings of 43 cents per share. Wall Street
expected results to range from 38 cents to 48 cents per share.
    * Revenue fell 12% to $145.78 million from a year ago;
analysts
expected $153.04 million. 
    * Insteel Industries Inc's reported EPS for the quarter was
34
cents​.
    * Insteel Industries Inc shares had risen by 4.2% this
quarter and
lost 15.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 14.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

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

Wall Street's median 12-month price target for Insteel
Industries Inc is $36.50 
This summary was machine generated from LSEG data July 18 at
02:21 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
 Jun. 30 2024      0.43           0.34           Missed
 Mar. 31 2024      0.30           0.35           Beat
 Dec. 31 2023      0.05           0.06           Beat
 Sep. 30 2023      0.66           0.29           Missed