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Insteel Industries
Insteel Industries (IIIN) investor relations material
Insteel Industries Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary15 Jan, 2026
Executive summary
Net sales for Q1 2026 rose 23.3% year-over-year to $159.9 million, driven by higher selling prices, increased shipments, and strong demand in infrastructure and commercial construction, with contributions from recent acquisitions.
Net earnings surged to $7.6 million ($0.39/share) from $1.1 million ($0.06/share) in the prior year, primarily due to higher gross profit and lower restructuring and acquisition costs.
Gross profit margin expanded to 11.3% from 7.3% year-over-year, reflecting higher spreads between selling prices and raw material costs and lower manufacturing costs.
Special cash dividend of $19.4 million ($1.00/share) paid in addition to regular dividends.
Operations focus on manufacturing and marketing steel wire reinforcing products for concrete construction, with national market leadership and a strategy centered on cost leadership and growth through organic initiatives and acquisitions.
Financial highlights
Average selling prices increased 18.8% and shipments rose 3.8% year-over-year, though shipments declined 9.7% sequentially due to seasonality.
SG&A expenses rose to $8.8 million, mainly from higher incentive compensation and employee benefits tied to improved performance.
Net cash used in operating activities was $0.7 million, reflecting a net increase in working capital, especially inventories.
Ended quarter with $15.6 million in cash and no borrowings on a $100 million credit facility.
Capital expenditures for Q1 2026 were $1.5 million; full-year CapEx expected up to $20 million, focused on productivity and maintenance.
Outlook and guidance
Management expects 2026 to be a strong year, driven by infrastructure funding, data center construction, and positive customer sentiment.
Inventory levels are expected to moderate in Q2 as purchasing normalizes and shipments increase.
Effective tax rate guidance is approximately 23% for the year.
Focus remains on expense control, realizing acquisition synergies, and productivity improvements.
Only about 10% of revenues are directly affected by import competition.
Q2 inventory management strategy
Strategy for US steel price premium
What specific productivity gains from 2026 capex?
Wire rod supply and tariff policy outlook?
Data center and IIJA demand sustainability?
Inventory and CapEx impact on cash flow?
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Next Insteel Industries earnings date
Q2 202616 Apr, 2026
Insteel Industries
Next Insteel Industries earnings date
Q2 202616 Apr, 2026
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Frequently asked questions
Insteel Industries, Inc., manufactures and markets steel wire reinforcing products for concrete construction applications. It offers concrete reinforcing steel bars, also known as rebar, welded wire reinforcement, including standard welded wire reinforcement and specialty WWR products comprising engineered structural mesh, concrete pipe reinforcement, standard engineered structures and sheathed WWR products, headed products consisting of a deformed steel bar that has been mechanically bonded to an upset end through a heading process, and fabricated cages for use in the precast concrete industry.
The company sells its products to construction firms, concrete pipe manufacturers, contractors specializing in bridge deck and specialty flooring work, and commercial building developers. Insteel Industries, Inc. was founded in 1953 and is headquartered in Mount Airy, North Carolina.
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