Insteel Q4 revenue soars 17.9% to $209.3 million
- Insteel reported fourth-quarter fiscal 2026 net sales of $209.3 million, up 17.9% year over year, while net earnings declined to $7.7 million.
- Diluted earnings per share fell to $0.40 from $0.74, while gross margin narrowed to 10.0% from 16.1% due to higher material and operating costs.
- Insteel expects approximately $30 million in capital spending for fiscal 2027, focusing on production expansion, cost reduction and operational efficiency.
Insteel Industries (NYSE:IIIN) reported fourth-quarter fiscal 2026 net sales of $209.3 million, up 17.9%, while net earnings declined to $7.7 million.
Revenue increased from $177.4 million, supported by 6.6% higher selling prices and 10.6% higher shipments, partly reflecting an additional fiscal week.
Gross profit declined to $21 million from $28.6 million, while gross margin narrowed to 10.0% from 16.1% amid rising costs.
Quarterly earnings per share fell to $0.40 from $0.74, including $0.03 in charges related to welded wire operations restructuring.
Insteel expects approximately $30 million in fiscal 2027 capital spending to expand production capacity and support efficiency improvements.
Fiscal 2026 sales increased to $739.5 million from $647.7 million, while annual net earnings declined to $29.5 million from $41 million.
The company consolidated welded wire operations, repurchased approximately 114,000 shares during fiscal 2026 and ended the year with $37.5 million in cash and no outstanding debt.
