Insteel Industries Expects Modest Recovery In Q4 On Nonresidential Construction Activity And Recovery In Residential Markets
Portfolio Pulse from Benzinga Newsdesk
Insteel Industries is expecting a modest recovery in Q4 due to nonresidential construction activity and recovery in residential markets. The company is also progressing on several capital projects aimed at broadening its product offering, expanding capacity, and reducing operating costs. The first two projects are expected to be fully commissioned in Q4, with the remaining project to be completed in Q1 of fiscal 2024.
July 20, 2023 | 10:36 am
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Insteel Industries is expected to see a modest recovery in Q4 due to increased construction activity. The company's ongoing capital projects, aimed at expanding product offerings and capacity, are also expected to contribute to this recovery.
The news directly pertains to Insteel Industries and its operations. The expected recovery in Q4 due to increased construction activity and the progress of capital projects is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100