NYSE$IIIN
Insteel Industries Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Insteel reported record net earnings due to strong demand and price increases.
Insteel Industries reported record quarterly net earnings of $39.0 million, or $1.99 per diluted share. Net sales increased to $213.2 million driven by a 65.4% increase in average selling prices.
- Net earnings reached a record $39.0 million, or $1.99 per diluted share.
- Net sales increased to $213.2 million.
- Average selling prices increased by 65.4%.
- Gross profit increased to $57.1 million with gross margin widening to 26.8%.
Headline financials
Revenue & EPS history
Insteel · Revenue · Quarterly
$213M
Forward guidance
Insteel expects continued strong performance due to underlying strength across all non-residential construction markets together with the usual seasonal upturn in demand that occurs during our third and fourth quarters.
Tailwinds
- Momentum across our business remains positive driven by robust demand from our customer base
- Price increase initiatives to recover rapidly rising raw material, labor, utility and freight costs
- Continued strong performance due to underlying strength across all our non-residential construction markets
- Usual seasonal upturn in demand that occurs during our third and fourth quarters.
- Supplemented our requirements with offshore material to bridge the gaps
Headwinds
- Concerns surrounding inadequate supplies of domestically produced wire rod persist
- Concerns about the impact of record high steel prices on demand for reinforcing products
- Tight supply conditions for raw materials
- Lower shipments resulting from tight supply conditions for raw materials.
- Increase in net working capital, which used $32.6 million of cash in the current year quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+0.1%
Avg return
Earnings day
-1.5%
Avg return
5 days after
+2.1%
Avg return
30 days after
54%
36 / 67 earnings
Positive
+23.1%
Q3 2018
Best reaction
-21.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -21.6% | -32.5% | -29.9% | |
| Q1 2026 | -5.0% | +0.4% | +11.5% | |
| Q4 2025 | -18.8% | -16.2% | -14.9% | |
| Q3 2025 | +4.1% | +3.4% | +9.8% | |
| Q2 2025 | +13.8% | +21.7% | +39.7% | |
| Q1 2025 | +8.7% | +11.6% | +25.6% | |
| Q4 2024 | -7.3% | -8.2% | +2.1% | |
| Q3 2024 | +0.3% | +2.6% | +0.2% | |
| Q2 2024 | -5.1% | -5.9% | -6.1% | |
| Q1 2024 | -4.8% | -5.7% | -2.3% | |
| Q4 2023 | -6.8% | -10.9% | +7.5% | |
| Q3 2023 | +3.8% | +0.5% | -3.3% | |
| Q2 2023 | -0.6% | -0.9% | +11.5% | |
| Q1 2023 | -10.2% | -8.0% | -4.2% | |
| Q4 2022 | -8.7% | -8.9% | +0.6% | |
| Q3 2022 | -21.7% | -24.6% | -22.0% | |
| Q2 2022 | +6.7% | +4.5% | -0.6% | |
| Q1 2022 | +1.8% | -2.3% | -2.1% | |
| Q4 2021 | -4.7% | +1.0% | +17.1% | |
| Q3 2021 | +6.4% | +9.4% | +19.6% | |
| Q2 2021 | +9.4% | +18.0% | +16.4% | |
| Q1 2021 | +4.0% | +3.4% | +16.6% | |
| Q4 2020 | +3.0% | +0.3% | +20.6% | |
| Q3 2020 | -0.4% | -0.4% | -3.1% | |
| Q2 2020 | +12.5% | +6.3% | -0.4% | |
| Q1 2020 | +20.0% | +19.8% | +2.5% | |
| Q4 2019 | -2.5% | +0.0% | +6.8% | |
| Q3 2019 | -9.5% | -7.8% | -11.1% | |
| Q2 2019 | -17.6% | -11.9% | -10.9% | |
| Q1 2019 | -10.6% | -13.6% | -9.9% | |
| Q4 2018 | -20.2% | -21.6% | -18.7% | |
| Q3 2018 | +23.1% | +26.0% | +19.6% | |
| Q2 2018 | +1.2% | +8.1% | +10.9% | |
| Q1 2018 | +8.9% | +8.7% | +4.4% | |
| Q4 2017 | -0.5% | -0.5% | -3.8% | |
| Q3 2017 | -18.9% | -18.4% | -23.4% | |
| Q2 2017 | -3.1% | +1.0% | -10.0% | |
| Q1 2017 | -5.2% | +0.5% | +7.4% | |
| Q4 2016 | -14.8% | -20.3% | +3.0% | |
| Q3 2016 | +10.3% | +10.6% | +6.0% | |
| Q2 2016 | -5.3% | — | — | |
| Q1 2016 | +18.5% | — | — | |
| Q4 2015 | +14.5% | — | — | |
| Q3 2015 | +0.2% | — | — | |
| Q2 2015 | -3.6% | — | — | |
| Q1 2015 | +2.1% | — | — | |
| Q4 2014 | +2.8% | — | — | |
| Q3 2014 | +4.7% | — | — | |
| Q2 2014 | +13.6% | — | — | |
| Q1 2014 | -1.4% | — | — | |
| Q4 2013 | +4.3% | — | — | |
| Q3 2013 | -3.9% | — | — | |
| Q2 2013 | +6.8% | — | — | |
| Q1 2013 | +6.7% | — | — | |
| Q4 2012 | -4.5% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | +1.1% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q1 2012 | +6.6% | — | — | |
| Q4 2009 | +8.3% | — | — | |
| Q2 2011 | +8.3% | — | — | |
| Q4 2011 | +8.3% | — | — | |
| Q3 2010 | +0.2% | — | — | |
| Q3 2011 | +0.2% | — | — | |
| Q4 2010 | +0.2% | — | — | |
| Q2 2010 | +5.4% | — | — | |
| Q1 2010 | -5.4% | — | — |
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