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Stock impact report

Insteel Industries (IIIN) Sits Comfortably With Current Market Position, Following Q2 Announcement [Yahoo! Finance]

Insteel Industries, Inc. (IIIN) 
US:NASDAQ Investor Relations: investor.insteel.com
Company Research Source: Yahoo! Finance
On April 16, Insteel Industries Inc. (NYSE:IIIN) reported earnings per share of $0.27 for the second quarter, down from $0.52 per share last year. The company also reported revenue figures of $172.7 million for the quarter, up from $160.7 million the prior year. Photo by ant rozetsky on Unsplash Chief Executive H.O. Woltz III noted that the cold weather impacted operations and geographies during the quarter. Construction slowed, limiting shipments. Projects expected in the second quarter were delayed to later this fiscal year. As indicated by the executive, this delay is temporary and not a decrease in demand on the part of the buyer. In addition to that, there are other factors affecting the environment in terms of supply and costs, U.S. trading policies, and the Middle East situation. The company is happy with the current market position and the lack of competition from imports. There are concerns, however, about the competitiveness of U.S. hot-rolled steel compared with othe Show less Read more
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