Insteel Industries Reports Weaker Q2 Earnings Due to Winter Weather and Project Delays
Insteel Industries (NYSE:IIIN) reported weaker-than-expected Q2 earnings, with net earnings down to $5.2 million and shipments falling 5.9% year-over-year due to severe winter weather and project timing issues. Despite a 14.2% increase in average selling prices, rising costs and lower margins were reported, though management expects a recovery in Q3.
Tickers: $IIIN
Topics: Earnings Margins Supply Chain Weather Impact Working Capital