Insteel Q4 net income $0.24/sh; net sales down 14.7% to $134.3M; fiscal 2024 EPS $0.99 vs $1.66

INSTEEL INDUSTRIES INC

2024-FY EPS reported $0.99 revenue$529,198,000

Q4 net income $4.7M ($0.24/sh) vs $5.6M ($0.29/sh) YoY; net sales $134.3M (-14.7%)
Fiscal 2024 net income $19.3M ($0.99/sh) vs $32.4M ($1.66/sh) YoY; net sales $529.2M (-18.5%)
Gross margin improved 20 bps to 9.1% in Q4; fiscal gross margin narrowed to 9.4% from 10.1%
Cash position $111.5M, no debt; capex expected ~$22M in fiscal 2025
CEO cites import headwinds in PC strand markets; expects gradual improvement in FY2025

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