Insteel Industries Shares Rise After Higher Sales in 3Q

Dow Jones

Jul 16

Shares of Insteel Industries were higher after the steel wire reinforcing products manufacturer reported an increase in its third-quarter revenue, helped by higher average selling prices and improved shipment activity.

The stock was up 7.0% at $31.71 in recent trading, and are up 0.5% since the start of the year.

Insteel reported its sales rose nearly 10% to $197.7 million in its third quarter.

The company posted net income of $9 million, or 46 cents a share, compared with $15.2 million, or 78 cents a share, in the same quarter a year earlier.

Chief Executive H.O. Woltz III said that customer sentiment remains positive and the level of activity in publicly funded infrastructure markets continues to be healthy.

He added that profitability during the quarter was impacted by higher costs, with increases in wire rod prices, freight expenses and other operating costs, but said the headwinds would be temporary and the company would recover the higher costs through pricing over time.

Write to Grace Yoon at grace.yoon@wsj.com

(END) Dow Jones Newswires

July 16, 2026 10:19 ET (14:19 GMT)

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