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Earnings To Watch: Insteel (IIIN) Reports Q1 Results Tomorrow

IIIN Cover Image

Steel wire manufacturer Insteel (NYSE: IIIN) will be announcing earnings results tomorrow before market open. Here’s what you need to know.

Insteel beat analysts’ revenue expectations by 10.4% last quarter, reporting revenues of $129.7 million, up 6.6% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates.

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

This quarter, analysts are expecting Insteel’s revenue to grow 17.6% year on year to $149.9 million, a reversal from the 19.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.29 per share.

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.

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, the whole sector has faced a sell-off over the last month with stocks in Insteel’s peer group down 8.1% on average. Insteel is down 4.3% during the same time and is heading into earnings with an average analyst price target of $39 (compared to the current share price of $26.30).

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