Insteel (IIIN) Q1 Earnings Report Preview: What To Look For

IIIN Cover Image

Steel wire manufacturer Insteel (NYSE: IIIN) will be announcing earnings results this Thursday before the bell. Here’s what investors should know.

Insteel missed analysts’ revenue expectations last quarter, reporting revenues of $159.9 million, up 23.3% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a beat of analysts’ EPS estimates.

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

This quarter, the market is expecting Insteel’s revenue to grow 10.9% year on year, slowing from the 26.1% increase it recorded in the same quarter last year.

Insteel Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Insteel has missed Wall Street’s revenue estimates multiple times over the last two years.

With Insteel being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for building products stocks. However, there has been positive investor sentiment in the segment, with share prices up 8.8% on average over the last month. Insteel is up 17.9% during the same time .

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