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

Insteel Industries

25/04/2024 21:50

* Insteel Industries Inc  IIIN.N  reported quarterly
adjusted
earnings of 35 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 26 cents.  The mean expectation of two analysts
for the quarter was for earnings of 30 cents per share. Wall
Street expected results to range from 22 cents to 37 cents per
share.
    * Revenue fell 19.9% to $127.39 million from a year ago;
analysts
expected $134.89 million. 
    * Insteel Industries Inc's reported EPS for the quarter was
35
cents​.
    * Insteel Industries Inc shares had fallen by 10.7% this
quarter and lost 10.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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 "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 $37.50 
This summary was machine generated from LSEG data April 25 at
08:50 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
 Mar. 31 2024      0.30           0.35           Beat
 Dec. 31 2023      0.05           0.06           Beat
 Sep. 30 2023      0.66           0.29           Missed
 Jun. 30 2023      0.67           0.54           Missed