Insteel Industries Inc reports results for the quarter ended June 30 - Earnings Summary

• Insteel Industries Inc IIIN reported quarterly adjusted earnings of 78 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 34 cents. The mean expectation of two analysts for the quarter was for earnings of 57 cents per share. Wall Street expected results to range from 44 cents to 70 cents per share.

• Revenue rose 23.4% to $179.89 million from a year ago; analysts expected $174.20 million.

• Insteel Industries Inc's reported EPS for the quarter was 78 cents​.

• The company reported quarterly net income of $15.16 million.

• Insteel Industries Inc shares had risen by 3.5% this quarter and gained 42.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 20% 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 "buy."

• Wall Street's median 12-month price target for Insteel Industries Inc is $39.00, about 1.2% above its last closing price of $38.52

This summary was machine generated from LSEG data July 17 at 01:32 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)