Insteel Indus Q3 EPS $0.34 Misses $0.46 Estimate, Sales $145.78M Miss $153.04M Estimate
Portfolio Pulse from Benzinga Newsdesk
Insteel Industries (NYSE:IIIN) reported Q3 earnings per share of $0.34, missing the analyst estimate of $0.46 by 20.93%. Sales were $145.78M, also missing the estimate of $153.04M by 4.75%. Both earnings and sales showed significant declines compared to the same period last year.
July 18, 2024 | 10:33 am
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Insteel Industries reported Q3 EPS of $0.34, missing estimates by 20.93%, and sales of $145.78M, missing estimates by 4.75%. Both metrics showed significant declines compared to the same period last year.
The significant miss on both EPS and sales estimates, along with the year-over-year declines, is likely to negatively impact the stock price in the short term. Investors may react to the underperformance and the downward trend in financial metrics.
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RELEVANCE 100