By Nicholas G. Miller
Shares of Insteel Industries sank after the company warned residential construction activity remains "moribund" and macroeconomic conditions could hurt demand.
On Thursday, Insteel reported fourth-quarter net earnings of $14.6 million, or 74 cents a share, up from $4.67 million, or 24 cents a share, the year prior. Sales rose to $177.4 million from $134.3 million.
Chief Executive H.O. Woltz III said recent acquisitions, which include a $70 million deal for Engineered Wire Products, boosted its 2025 earnings, but that it was "closely monitoring broader macroeconomic conditions which could weigh on customer sentiment and demand."
"As we enter fiscal 2026, market conditions are generally strong and stable, although residential construction remains moribund," Woltz said.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
October 16, 2025 11:04 ET (15:04 GMT)
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