Insteel Industries, Inc. (NASDAQ:IIIN) is reporting third quarter earnings results on Thursday 16th July 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.17 per share from $ 115.45 million in revenue.
For the full year, analysts predict revenues of $ 441.47 million, while looking forward to income of $ 0.59 per share.
Previous Quarter Performance
Insteel Industries, Inc. revealed income for the second quarter of $ 0.24 per share, from the revenue of $ 114.90 million. The quarterly earnings swell 2,300.00 percent compared with the same quarter last year. Street analysts expected Insteel Industries, Inc. to report income of $ 0.09 per share on revenue of $ 100.28 million for the second quarter. The bottom line results beat street analysts by $ 0.15 or 166.67 percent, at the same time, top line results outshined analysts by $ 14.62 million or 14.58 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of IIIN was $ 15.17, representing a 51.70 % increase from the 52 week low of $ 10.00 and a 42.99 % decrease over the 52 week high of $ 26.61.
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Recent Analyst recommendations
On 10th June 2020, downgraded by Sidoti to Neutral from Buy rating.
Conference Call
Insteel Industries, Inc. will be hosting a conference call at 10:00 AM eastern time on 16th July 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website insteelgcs.gcs-web.com/company-news/events-and-presentations
Insteel Industries, Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.
