Insteel Industries (Nasdaq: IIIN ) reported earnings on Jan. 17. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 29 (Q1), Insteel Industries beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased slightly and GAAP earnings per share grew.
Margins increased across the board.
Insteel Industries logged revenue of $85.9 million. The three analysts polled by S&P Capital IQ wanted to see a top line of $80.5 million on the same basis. GAAP reported sales were 1.3% higher than the prior-year quarter's $84.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.13. The three earnings estimates compiled by S&P Capital IQ forecast $0.04 per share. GAAP EPS were $0.13 for Q1 against -$0.01 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 10.0%, 450 basis points better than the prior-year quarter. Operating margin was 4.4%, 430 basis points better than the prior-year quarter. Net margin was 2.8%, 300 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $85.4 million. On the bottom line, the average EPS estimate is $0.09.
Next year's average estimate for revenue is $374.9 million. The average EPS estimate is $0.61.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 216 members out of 233 rating the stock outperform, and 17 members rating it underperform. Among 69 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 61 give Insteel Industries a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Insteel Industries is outperform, with an average price target of $14.50.
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