Insteel Q4 earnings fall to $0.40/share from $0.74 as gross margin compresses to 10.0%

INSTEEL INDUSTRIES INC

Q4 net earnings $7.7 million, or $0.40 per share, versus $14.6 million ($0.74 diluted) a year ago; included $0.7 million in welded wire consolidation restructuring charges ($0.03 EPS).
Q4 net sales $209.3 million, up 17.9% from $177.4 million; average selling prices rose 6.6% and shipments rose 10.6%, aided by an extra week in the fiscal calendar.
Gross profit fell to $21.0 million from $28.6 million as gross margin narrowed to 10.0% from 16.1% on higher raw material, freight and operating costs.
Fiscal 2026 EPS $1.51 versus $2.10; sales $739.5 million on 11.5% higher ASPs and 2.4% higher volume; operating cash flow $36.6 million.
FY2027 capex guided to about $30.0 million versus $11.8 million; debt-free with $37.5 million cash, $100 million revolver undrawn, and ~114,000 shares repurchased in FY2026.

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