Insteel Industries Shares Fall After Fiscal Q4 Earnings, Net Sales Miss Consensus
MT Newswires Live
Oct 17
Insteel Industries (IIIN) shares dropped more than 16% in recent trading on Thursday after the steel wire manufacturer's fiscal Q4 earnings and net sales fell short of analysts' consensus.
The company reported fiscal Q4 net earnings of $0.74 per diluted share, up from $0.24 a year earlier.
Two analysts polled by FactSet expected $0.79.
Net sales for the quarter ended Sept. 27 was $177.4 million, up from $134.3 million a year earlier.
Two analysts surveyed by FactSet expected $181 million.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.