{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-001397","form_type":"8-K","ticker":"IIIN","cik":"0000764401","company_name":"INSTEEL INDUSTRIES INC","filed_at":"2023-01-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.043917+00:00","generated_at":"2026-06-20T12:47:08.282298+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Insteel Industries Q1 earnings drop to $0.57/share from $1.18; sales down 6.5%","bullets":["Net earnings $11.1M ($0.57 per share) vs $23.1M ($1.18) in prior year Q1.","Net sales $166.9M, down 6.5% YoY; shipments fell 10.0%, partially offset by 3.9% higher average selling prices.","Gross margin narrowed to 10.7% from 23.7% due to spread compression and consumption of higher cost inventory.","Paid special cash dividend of $2.00/share on Dec 23, 2022; ended quarter with $42.6M cash and no revolver borrowings.","Expect continued headwinds from higher cost inventories in Q2, but positive on nonresidential demand and IIJA benefits in H2."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-001397","json":"https://secwatch.observer/filing/0001437749-23-001397.json","markdown":"https://secwatch.observer/filing/0001437749-23-001397.md","text":"https://secwatch.observer/filing/0001437749-23-001397.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/764401/000143774923001397/0001437749-23-001397-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/764401/000143774923001397/iiin20230116_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T12:47:08.282298+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c8f77b5fa962ff877aaddd7de20b1c4f9d29d02f","claim":"INSTEEL INDUSTRIES INC reported first quarter ended December 31, 2022 results: revenue $166.9 million, net income $11.1 million, EPS $0.57 per share.","evidence_excerpt":"first quarter results were unfavorably impacted by lower shipments and the narrowing of spreads between selling prices and raw material costs. Net sales decreased 6.5% to $166.9 million from $178.5 million in the prior year quarter primarily from a 10.0% decrease in shipments partially offset by a 3.9% increase in average selling prices. Shipments into","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/764401/000143774923001397/0001437749-23-001397-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended December 31, 2022"},{"label":"Revenue","value":"$166.9 million"},{"label":"Net income","value":"$11.1 million"},{"label":"EPS","value":"$0.57 per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}