2023-10-19 06:36:12 ET
- Insteel press release ( NYSE: IIIN ): Q4 GAAP EPS of $0.29 misses by $0.37 .
- Despite improved demand, Insteel’s fourth quarter results were unfavorably impacted by narrower spreads between selling prices and raw material costs and higher unit manufacturing costs relative to the prior year quarter.
- Revenue of $157.5M (-24.3% Y/Y) misses by $13.04M .
- Net sales decreased 24.3% to $157.5 million from $208.0 million in the prior year quarter, reflecting a 27.8% decrease in average selling prices partially offset by a 4.9% increase in shipments.
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Insteel GAAP EPS of $0.29 misses by $0.37, revenue of $157.5M misses by $13.04M