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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100