{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-010775","form_type":"8-K","ticker":"IIIN","cik":"0000764401","company_name":"INSTEEL INDUSTRIES INC","filed_at":"2023-04-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.187434+00:00","generated_at":"2026-06-16T21:53:54.475147+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Insteel Q2 earnings drop 87% to $0.26/share; sales down 25% on destocking","bullets":["Net earnings $5.1M ($0.26 per share) vs $39.0M ($1.99) a year ago; gross margin fell to 8.3% from 26.8%.","Net sales $159.1M, down 25.4% from $213.2M; average selling prices down 14.5%, shipments down 12.8%.","CEO says destocking headwinds nearly run their course; expects good 2023 despite weak start.","Cash $80.2M, debt-free; capex guidance up to $30M for fiscal 2023.","Operating cash flow $46.6M in Q2 vs $6.3M last year, driven by working capital reduction."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-010775","json":"https://secwatch.observer/filing/0001437749-23-010775.json","markdown":"https://secwatch.observer/filing/0001437749-23-010775.md","text":"https://secwatch.observer/filing/0001437749-23-010775.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/764401/000143774923010775/0001437749-23-010775-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/764401/000143774923010775/iiin20230417_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T21:53:54.475147+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":"6d9befcb502f8e189ec7f854ffb1fd0d766991a2","claim":"INSTEEL INDUSTRIES INC reported financial results for its fiscal 2023 second quarter ending on April 1, 2023.","evidence_excerpt":"On April 20, 2023, Insteel Industries, Inc. issued a news release regarding its financial results for its fiscal 2023 second quarter ending on April 1, 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/764401/000143774923010775/0001437749-23-010775-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"its fiscal 2023 second quarter ending on April 1, 2023"},{"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"}